Every material Form 8-K Public Service Enterprise filed with the SEC in 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
PSEG's Organization and Compensation Committee adopted amendments on November 18, 2024, to its Key Executive Severance Plan and Deferred Compensation Plan as part of a periodic compensation review. The KESP change expands eligible positions to include designated Section 16 Officer positions, and the DCP change extends Core Contribution benefits to certain non-officer highly-compensated employees.
Both amendments were adopted November 18, 2024 and took effect the same day.
KESP amendment adds designated Section 16 Officer positions to Schedule A, excluding one officer currently on Schedule B.
DCP amendment provides Core Contribution benefits to certain highly-compensated non-officer employees, not only officers.
Amended plans are filed as Exhibits 10.1 (KESP) and 10.2 (DCP); the filing gives no dollar figures.
Public Service Enterprise Group reported third-quarter 2024 net income of $520 million, or $1.04 per share, up from $139 million, or $0.27 per share, a year earlier. Non-GAAP operating earnings were $0.90 per share, compared with $0.85 in the prior-year quarter, and the company narrowed its full-year 2024 non-GAAP operating earnings guidance to $3.64 to $3.68 per share from $3.60 to $3.70.
Net income of $520 million ($1.04 per share) for the quarter, versus $139 million ($0.27 per share) in Q3 2023
Non-GAAP operating earnings of $448 million ($0.90 per share), versus $425 million ($0.85 per share)
Full-year 2024 non-GAAP operating earnings guidance narrowed to $3.64 to $3.68 per share from $3.60 to $3.70
New Jersey Board of Public Utilities approved an additional $505 million in annual PSE&G revenues, effective October 15
Public Service Enterprise Group (PSEG) appointed Grace Park as Executive Vice President and General Counsel effective September 16, 2024, as part of a planned succession process. General Counsel Tamara Linde, who notified the company on September 11, 2024, will retire effective March 14, 2025, and until then will serve as Executive Vice President and Chief Legal Officer with the same compensation and benefits.
Grace Park appointed Executive Vice President and General Counsel effective September 16, 2024
Tamara Linde moves to Executive Vice President and Chief Legal Officer from September 16, 2024 to March 14, 2025, then retires
Linde keeps the same compensation and benefits she received as General Counsel under the new agreement
Park joined PSEG in 2017 and was promoted to Vice President, Deputy General Counsel and Chief Litigation Counsel in 2020
Public Service Enterprise Group reported second-quarter 2024 net income of $434 million, or $0.87 per share, down from $591 million, or $1.18 per share, a year earlier. Non-GAAP operating earnings were $313 million, or $0.63 per share, compared with $351 million, or $0.70 per share, and the company reaffirmed its full-year 2024 non-GAAP operating earnings guidance of $3.60 to $3.70 per share.
Q2 2024 consolidated operating revenues were $2,423 million, compared with $2,421 million in Q2 2023.
Q2 2024 net income was $434 million ($0.87 per share), versus $591 million ($1.18 per share) in Q2 2023.
Non-GAAP operating earnings were $313 million ($0.63 per share), versus $351 million ($0.70 per share).
Full-year 2024 non-GAAP operating earnings guidance of $3.60 to $3.70 per share was reaffirmed.
PSEG reported first-quarter 2024 net income of $532 million, or $1.06 per diluted share, down from $1,287 million, or $2.58, a year earlier. Non-GAAP operating earnings were $657 million, or $1.31 per share, compared with $695 million, or $1.39, and operating revenues fell to $2,760 million from $3,755 million. The company reaffirmed 2024 non-GAAP operating earnings guidance of $3.60 to $3.70 per share.
Net income was $532 million ($1.06 per share) versus $1,287 million ($2.58 per share) in the first quarter of 2023.
Non-GAAP operating earnings were $657 million ($1.31 per share) versus $695 million ($1.39 per share).
PSEG Power & Other operating earnings were $169 million ($0.33 per share) versus $203 million ($0.40); PSE&G was $488 million ($0.98 per share) versus $492 million ($0.99).
PSEG reaffirmed 2024 non-GAAP operating earnings guidance of $3.60 to $3.70 per share and declared a first-quarter dividend of $0.60 per share.
Public Service Enterprise Group adopted an amendment to its Key Executive Severance Plan, effective April 16, 2024. The changes clarify benefits eligibility, allow severance eligibility under a voluntary exit incentive program in specified circumstances, and remove references to PSEG Energy Resources and Trade LLC because its separate incentive plan has closed. The filing describes the amendment as administrative and does not report any financial figures.
Amendment to Key Executive Severance Plan adopted April 16, 2024, effective the same day
Employees may be eligible for severance under a voluntary exit incentive program in specified circumstances
References to PSEG Energy Resources and Trade LLC removed because its separate incentive plan has closed
PSEG reported full-year 2023 net income of $2.56 billion, or $5.13 per share, up from $1.03 billion, or $2.06 per share, in 2022. Non-GAAP operating earnings were $3.48 per share, close to the $3.47 reported for 2022, and fourth-quarter results declined from a year earlier. The company reaffirmed its 2024 non-GAAP operating earnings guidance of $3.60 to $3.70 per share.
Full-year 2023 operating revenues were $11.24 billion, compared with $9.80 billion in 2022.
Fourth-quarter 2023 net income was $546 million, or $1.10 per share, versus $788 million, or $1.58 per share, in the fourth quarter of 2022.
Full-year 2023 non-GAAP operating earnings were $3.48 per share; the company said this came in at the high end of its 2023 guidance range.
Management reaffirmed 2024 non-GAAP operating earnings guidance of $3.60 to $3.70 per share and set an indicative 2024 annual common dividend rate of $2.40 per share, up $0.12.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
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