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Dec 31, 2024
PSEG Q4 2024 Earnings Report
PSEG reported solid Q4 2024 earnings with revenue growth and stable financial performance.
Key Takeaways
Public Service Enterprise Group (PSEG) reported Q4 2024 revenue of $2.47 billion, with net income reaching $286 million. Adjusted EPS came in at $0.84, reflecting strong operational results. PSE&G saw increased earnings from infrastructure investments, while PSEG Power & Other benefited from improved energy margins.
Revenue for Q4 2024 was $2.47 billion, slightly lower than the previous year.
Net income reached $286 million, with a diluted EPS of $0.57.
Adjusted EPS rose to $0.84, up from $0.54 in Q4 2023.
PSE&G contributed $378 million in net income, supported by higher infrastructure investments.
PSEG
PSEG
Forward Guidance
PSEG expects to continue growing its non-GAAP operating earnings in 2025, targeting an increase of 9% at the midpoint. The company plans significant infrastructure investments to modernize the grid and support clean energy initiatives.
Positive Outlook
- Projected non-GAAP EPS guidance between $3.94 and $4.06.
- Planned capital investment of $3.8 billion in 2025.
- Expected growth in PSE&G rate base of 6%-7.5% CAGR.
- Continued support from the nuclear production tax credit.
- Stable financial position with no need for new equity issuance.
Challenges Ahead
- Higher financing costs expected to impact profitability.
- Regulatory risks in New Jersey could affect rate approvals.
- Potential volatility in energy prices may impact margins.
- Macroeconomic uncertainties affecting customer demand.
- Ongoing investments could put pressure on short-term cash flow.