Public Service Enterprise Group Incorporated · NYSE:PEG
Public Service Enterprise — Investor Presentation (March 2016)
10 slides from Public Service Enterprise's investor presentation, Mar 18, 2016
Slide 1: Forward-Looking Statement
Forward-Looking Statement 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 “forward-look
Slide 2: GAAP Disclaimer
GAAP Disclaimer These materials and other financial releases can be found on the pseg.com website under the investor tab, or at http://investor.pseg.com/ PSEG presents Operating Earnings and Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) in addition to its Net Incom
Slide 3: Operating Earnings
Operating Earnings Disciplined investment program and focus on operational excellence have supported growth Power’s diverse fuel mix and dispatch flexibility continue to generate strong earnings and free cash flow in low price environment PSE&G’s investment program has resulted in an increased contr
Slide 4: Bonus depreciation lowered rate base and growth rate but growth remains strong
Bonus depreciation Lowered rate base and growth rate but growth still remains strong Investments are less expensive for customers, providing an opportunity for incremental cost-effective system improvements Year-end Rate Base and Net Income Investment program combined with cost control drives growth
Slide 5: PSE&G's 2016 operating earnings to benefit from investment programs and cost control
PSE&G’s 2016 operating earnings to benefit from investment programs and cost control e =estimate. $787 $725 $875 -- $925E PSE&G Operating Earnings ($ Millions) 2014 2015 2016 Guidance
Slide 6: Power's 2016 operating earnings incorporates warm weather and capacity retirement
Power’s 2016 operating earnings incorporates impact from abnormally warm weather and retirement of capacity Power Operating Earnings* ($ Millions) *SEE SLIDE A FOR ITEMS EXCLUDED FROM NET INCOME TO RECONCILE TO OPERATING EARNINGS. E = ESTIMATE.
Slide 7: PSEG Operating Earnings
PSEG Operating Earnings $ Millions (except EPS) 2012 2013 2014 2015 2016E Guidance PSE&G $528 $612 $725 $787 $875 - $925 PSEG Power $663 $710 $642 $653 $490 - $540 Enterprise/Other $45 ($13) $33 $36 $60 Operating Earnings* $1,236 $1,309 $1,400 $1,476 $1,425 - $1,525 Operating EPS* $2.44 $2.58 $2.76
Slide 8: Strong financial position to support our business initiatives in 2016 and beyond
Strong financial position to support our business initiatives in 2016 and beyond 2016 and Beyond Earnings Continuing strong earnings trend in 2016 with guidance of $2.80 to $3.00 Investment Deploying significant capital at PSE&G for projects with contemporaneous returns Pursuing Power projects that
Slide 9: PSEG Summary
PSEG Summary 2015 earnings of $2.91 were at the upper end of our upwardly revised operating earnings guidance of $2.85 - $2.95 per share Forecast growth at PSE&G supports our 2016 guidance of $2.80 to $3.00 per share Forecast high single-digit rate base growth at PSE&G on five year basis from 2015 t
Slide 10: 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 Please see Page 3 for an explanation of PSEG’s use of Operating Earnings as a non-GAAP financial measure and how it differs from Net Income. (a)Includes the financial impact from positions with forwar
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