Public Service Enterprise Group Inc (PEG) News & EventsPEGNews & EventsPublic Service Enterprise Group Inc

PSEG Q1 Revenue $3.85B, Beats Expectations

Reports Q1 revenue $3.85B, consensus $3.35B. "PSEG delivered a solid operating and financial performance to begin the year," said Ralph LaRossa, PSEG's chair, president and CEO. "Our teams across PSE&G and PSEG Power successfully responded to multiple extreme weather events during the first quarter. These included the worst winter storm to hit our service territory in the past 30 years and several days of single digit temperatures that prompted our highest gas send-out since 2019. PSEG's investments in critical energy infrastructure and our dedicated workforce that worked tirelessly to restore service in frigid conditions proved to be the key factors in our ability to deliver best-in-class storm response and reliability."

PSEG CEO LaRossa Expects Non-GAAP Operating Earnings Growth of 6%-8% Annually

CEO LaRossa added, "We continue to execute on our long-term strategy to grow PSEG's non-GAAP Operating Earnings by a compound annual rate of 6% to 8% through 2030 - without the need to issue new equity or sell assets - which remains a core differentiator from our peers."