Public Service Enterprise Group Incorporated · NYSE:PEG
Public Service Enterprise — Q2 2014 Earnings Presentation
9 slides from Public Service Enterprise's earnings presentation, Aug 12, 2014
Slide 1: Forward-Looking Statement
Forward-Looking Statement EXHIBIT 99 Certain of the matters discussed in this report about our and our subsidiaries' future performance, including, without limitation, future revenues, earnings, strategies, prospects, consequences and all other statements that are not purely historical constitute “f
Slide 2: GAAP Disclaimer
GAAP Disclaimer PSEG presents Operating Earnings in addition to its Income from Continuing Operations/Net Income reported in accordance with accounting principles generally accepted in the United States (GAAP). Operating Earnings is a non- GAAP financial measure that differs from Income from Continu
Slide 3: PSEG 2014 Operating Earnings expected to be at the upper end of guidance range
PSEG 2014 Operating Earnings expected to be at the upper end of guidance range Reflects increased level of utility investment, pension savings and assumes normal weather and unit operations for the rest of year $2.55 - $2.75E $2.58 $2.44 2012 2013 2014 Guidance SEE SLIDE A FOR ITEMS EXCLUDED FROM IN
Slide 4: Operating Earnings Mix
Operating Earnings Mix Long term investment program has driven increased earnings contribution from stable, regulated business Power’sdiverse fuel mix OperatingEarnings* Contribution by Subsidiary(%) and dispatch flexibility $2.55 - continues to generate $3.09 $3.12 $2.74 $2.44 $2.58 $2.75E earnings
Slide 5: PSEG Q2 2014 Financial Highlights
PSEG Q2 2014 Financial Highlights Earnings on Track Operating earnings of $0.49 vs. $0.48 per share in Q2 2013 Increased earnings contribution from PSE&G’s investment in Transmission Expect 2014 Operating Earnings to be at the upper end of the $2.55 to $2.75 per share guidance range – assuming norma
Slide 6: Susquehanna-Roseland transmission project
Susquehanna-Roseland consists of constructing 150 miles of 500kV circuit (46 miles in NJ) with two new 500kV GIS switching stations at Roseland and Hopatcong Project Through Expected Estimate Year-end 2013 In-service Date Up To* Phase 1 –Completed $790M $661M Phase 2 –June 2015 • PJM RTEP project b0
Slide 7: PSE&G's 2014 operating earnings
PSE&G’s 2014 operating earnings to benefit from increased investment in transmission and on-going cost control PSE&G Operating Earnings* ($ Millions) *SEE SLIDE A FOR ITEMS EXCLUDED FROM INCOME FROM CONTINUING E=ESTIMATE OPERATIONS/NET INCOME TO RECONCILE TO OPERATING EARNINGS. 42
Slide 8: Improving Operating Earnings
Improving Operating Earnings and increased contribution from PSE&G PSEG Operating Earnings $ Millions (except EPS) 2012 2013 2014E PSE&G $528 $612 $705 - $745 PSEG Power $663 $710 $550 - $610 Enterprise/Other $45 ($13) $35 - $40 Operating Earnings* $1,236 $1,309 $1,290 - $1,395 Operating EPS* $2.44
Slide 9: Items Excluded from Income from Continuing Operations/Net Income to Reconcile to Operating Earnings
Items Excluded from Income from Continuing Operations/Net Income to Reconcile to Operating Earnings PUBLIC SERVICE ENTERPRISE GROUP INCORPORATED For the Year Ended Reconciling Items, net of tax December 31, 2013 2012 2011 2010 2009 2008 Earnings Impact ($ Millions) (Unaudited) Operating Earnings $ 1
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