Public Service Enterprise Group Incorporated
Public Service Enterprise Group Reports Strong Financial Results for Q4 and Full Year 2023
Summary
Public Service Enterprise Group (PSEG) announced strong financial results for the fourth quarter and full year 2023, with a net income of $1.10 per share for Q4 and $5.13 per share for the full year. PSEG also reported non-GAAP operating earnings of $0.54 per share for Q4 and $3.48 per share for the full year. PSEG reaffirmed its full-year 2024 non-GAAP operating earnings guidance of $3.60 to $3.70 per share and increased its indicative common dividend for 2024 by $0.12 to $2.40 per share. The company also disclosed its fourth quarter and full year 2023 financial results, highlighting solid operational performance and financial stability.
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About Public Service Enterprise Group Incorporated
Public Service Enterprise Group Incorporated, commonly referred to as PSEG, is a diversified energy company based in the United States. Its primary function is to generate and supply electricity and gas to a wide range of consumers, including residential, commercial, and industrial clients, predominantly in the Northeastern region. PSEG operates through its main subsidiaries: PSEG Power, which involves the company's energy generation endeavors, and PSE&G, a regulated public utility providing gas and electric service to New Jersey residents. PSEG Power focuses on producing electricity through a mix of environmentally friendly sources, including nuclear, coal, natural gas, and renewable energy, highlighting the company's commitment to sustainable energy solutions. Meanwhile, PSE&G services over 2 million electric customers and nearly 2 million gas customers, placing it among the largest combined electric and gas companies in the U.S. As an integral player in the energy sector, PSEG contributes significantly to the regional infrastructure and economy, emphasizing reliability and innovative customer solutions. Established over a century ago, its consistent focus on modernizing energy generation and distribution positions it as a vital component of the region’s energy landscape.
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