PSEG Q4 2024 Earnings Report
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 Revenue
PSEG EPS
PSEG Revenue by Segment
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.
Revenue & Expenses
Visualization of income flow from segment revenue to net income