Public Service Enterprise Group Inc. Files 10-Q for Q1 2024

TL;DR

<b>Public Service Enterprise Group Inc. filed its Q1 2024 10-Q, detailing financial positions and bond information.</b>

AI Summary

PUBLIC SERVICE ENTERPRISE GROUP INC (PEG) filed a Quarterly Report (10-Q) with the SEC on April 30, 2024. Public Service Enterprise Group Inc. (PEG) filed its 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of 2024. Key financial data points from previous periods (2023-12-31, 2022-12-31) and the current period (2024-03-31) are included. Information pertains to consolidated entities and variable interest entities. Specific bond series, including 8% due 2037 and 5% due 2037, are referenced.

Why It Matters

For investors and stakeholders tracking PUBLIC SERVICE ENTERPRISE GROUP INC, this filing contains several important signals. This 10-Q provides an update on PEG's financial health and operational status for the first quarter of 2024, crucial for investors assessing current performance. The inclusion of specific bond series and detailed balance sheet components allows for a granular understanding of the company's debt structure and equity.

Risk Assessment

Risk Level: low — PUBLIC SERVICE ENTERPRISE GROUP INC shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not indicate any unusual events or significant deviations from typical reporting, suggesting a low level of immediate risk.

Analyst Insight

Review the detailed financial statements and segment information within the 10-Q to understand the drivers of performance in Q1 2024 and compare them to prior periods.

Key Numbers

• 2024-03-31 — Report Date (Period of Report)
• 2024-04-30 — Filing Date (Date Filed)
• 2024-01-01 — Quarter Start Date (Reporting Period)
• 2023-03-31 — Prior Year Quarter End (Comparative Period)

Key Players & Entities

• PUBLIC SERVICE ENTERPRISE GROUP INC (company) — Filer name
• Public Service Electric & Gas Co (company) — Filer name
• 0000788784 (company) — Central Index Key
• 0000081033 (company) — Central Index Key
• NJ (location) — State of Incorporation
• 80 PARK PLAZA, 9TH FLOOR (location) — Business Address
• NEWARK (location) — City
• 973-430-7000 (phone) — Business Phone

FAQ

Key Dates

• 2024-03-31: Quarter End Date — End of the reporting period for the 10-Q filing.
• 2024-04-30: Filing Date — Date the 10-Q was officially submitted to the SEC.

Glossary

10-Q

A quarterly report required by the U.S. Securities and Exchange Commission (SEC). (Provides a comprehensive overview of a company's financial performance during a specific quarter.)

Central Index Key (CIK)

A unique identifier assigned to each entity that files with the SEC. (Helps in tracking filings and identifying specific companies within SEC databases.)

Filing Documents

• pseg-20240331.htm (10-Q) — 2710KB
• ex4a16_supplementalindentu.htm (EX-4.A(16)) — 174KB
• ex10_2021bodrsuagreement.htm (EX-10) — 33KB
• ex31-33124.htm (EX-31) — 10KB
• ex311-33124.htm (EX-31.1) — 10KB
• ex312-33124.htm (EX-31.2) — 11KB
• ex313-33124.htm (EX-31.3) — 11KB
• ex32-33124.htm (EX-32) — 4KB
• ex321-33124.htm (EX-32.1) — 4KB
• ex322-33124.htm (EX-32.2) — 4KB
• ex323-33124.htm (EX-32.3) — 4KB
• 0001628280-24-019352.txt (&nbsp;) — 18738KB
• pseg-20240331.xsd (EX-101.SCH) — 93KB
• pseg-20240331_cal.xml (EX-101.CAL) — 115KB
• pseg-20240331_def.xml (EX-101.DEF) — 784KB
• pseg-20240331_lab.xml (EX-101.LAB) — 932KB
• pseg-20240331_pre.xml (EX-101.PRE) — 891KB
• pseg-20240331_htm.xml (XML) — 4776KB

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS ii FILING FORMAT iii

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements Public Service Enterprise Group Incorporated 1 Public Service Electric and Gas Company 7 Notes to Condensed Consolidated Financial Statements Note 1. Organization , Basis of Presentation and Significant Accounting Policies 13 Note 2. Revenues 14 Note 3. Variable Interest Entity (VIE) 18 Note 4. Rate Filings 18 Note 5. Leases 19 Note 6. Financing Receivables 19 Note 7. Trust Investments 21 Note 8. Pension and Other Postretirement Benefits (OPEB) 27 Note 9. Commitments and Contingent Liabilities 29 Note 10. Debt and Credit Facilities 34 Note 11. Financial Risk Management Activities 35 Note 12. Fair Value Measurements 40 Note 13. Net Other Income (Deductions) 44 Note 14. Income Taxes 45 Note 15. Accumulated Other Comprehensive Income (Loss), Net of Tax 46 Note 16. Earnings Per Share (EPS) and Dividends 48 Note 17. Financial Information by Business Segment 48 Note 18. Related-Party Transactions 50

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 51 Executive Overview of 2024 and Future Outlook 51 Results of Operations 57 Liquidity and Capital Resources 60 Capital Requirements 62

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 62

Controls and Procedures

Item 4. Controls and Procedures 63

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 63

Risk Factors

Item 1A. Risk Factors 63

Unregistered Sales of Equity Securities and Use of Proceeds 64

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 64

Other Information

Item 5. Other Information 64

Exhibits

Item 6. Exhibits 65

Signatures

Signatures 66 i Table of Contents

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS 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-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ materially from those anticipated. Such statements are based on management's beliefs as well as assumptions made by and information currently available to management. When used herein, the words "anticipate," "intend," "estimate," "believe," "expect," "plan," "should," "hypothetical," "potential," "forecast," "project," variations of such words and similar expressions are intended to identify forward-looking statements. Factors that may cause actual results to differ are often presented with the forward-looking statements themselves. Other factors that could cause actual results to differ materially from those contemplated in any forward-looking statements made by us herein are discussed in filings we make with the United States Securities and Exchange Commission (SEC), including our Annual Report on Form 10-K and subsequent reports on Form 10-Q and Form 8-K. These factors include, but are not limited to: any inability to successfully develop, obtain regulatory approval for, or construct transmission and distribution, and our nuclear generation projects; the physical, financial and transition risks related to climate change, including risks relating to potentially increased legislative and regulatory burdens, changing customer preferences and lawsuits; any equipment failures, accidents, critical operating technology or business system failures, natural disasters, severe weather events, acts of war, terrorism or other acts of violence, sabotage, physical attacks or

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View this 10-Q filing on SEC EDGAR