The following is a summary of the Public Service Enterprise Group Incorporated (PEG) Q1 2024 Earnings Call Transcript:

Financial Performance:

• PSEG reported a net income of $1.06 per share in Q1 2024, down from $2.58 per share in Q1 2023.

• Non-GAAP operating earnings were $1.31 per share in Q1 2024 compared to $1.39 per share in Q1 2023.

• PSEG reaffirmed its non-GAAP operating earnings guidance of $3.60 to $3.70 per share for 2024.

• The company plans to grow non-GAAP operating earnings by 5% to 7% through 2028.

Business Progress:

• PSEG's five-year capital plan of $19 billion to $22.5 billion through 2028 is on track.

• The company has installed 1.8 million of the planned 2.3 million smart meters as part of its AMI program, slated for completion by year-end.

• PSEG is exploring opportunities for direct power sales to data centers from its nuclear facilities. The company is considering the potential engagement in data centers, nuclear power production, hydrogen generation, and offshore wind power to diversify its operations.

More details: Public Service Enterprise Group IR

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