The company said Net Income for the quarter ended March 31, 2024 decreased from the same period in 2023, citing changes in MTM and the NDT Fund as the main factors.

1. 01

   The company said Net Income for the quarter ended March 31, 2024 decreased from the same period in 2023, citing changes in MTM and the NDT Fund as the main factors.

2. 02

   The company said PSEG Power & Other operating revenues decreased $1,155 million in the quarter. It attributed the decline mainly to a net decrease of $1,057 million from mark-to-market losses in 2024 compared with mark-to-market gains in 2023.

3. 03

   The company said operating cash flow for Q1 2024 decreased $1,176 million from the prior-year period, citing a net cash collateral outflow of $168 million at PSEG Power (compared with an inflow of $794 million in 2023) and lower tax refunds as the main factors.

4. 04

   The company estimates its regulated capital investment program for 2024-2028 at $18 billion to $21 billion, and said its Board of Directors approved a quarterly dividend of $0.60 per share on April 16, 2024 ($2.40 on an annualized basis), payable in Q2.

Key figures

Quarter ended March 31, 2024

Revenue

$2.8B

Operating income

$685M

Net income

$532M

EPS

$1.06

Operating cash flow

$661M

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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