Public Service Enterprise Group Incorporated (NYSE:PEG) Q3 2023 Results Conference Call October 31, 2023 11:00 AM ET
Company Participants
Carlotta Chan - VP, IR
Ralph LaRossa - Chair, President & CEO
Dan Cregg - EVP & CFO
Conference Call Participants
Nicholas Campanella - Barclays
Shar Pourreza - Guggenheim Partners
Durgesh Chopra - Evercore ISI
David Arcaro - Morgan Stanley
Jeremy Tonet - JPMorgan
Julien Dumoulin-Smith - Bank of America
Michael Sullivan - Wolfe Research
Carly Davenport - Goldman Sachs
Travis Miller - Morningstar
Anthony Crowdell - Mizuho
Operator
Ladies and gentlemen, thank you for standing by. My name is Rob, and I am your operator today. I would like to welcome everyone to today's conference, Public Service Enterprise Group's Third Quarter 2023 Earnings Conference Call and Webcast. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session for the members of the financial community. [Operator Instructions]
As a reminder, this conference is being recorded today October 31, 2023, and will be available for replay as an audio webcast on PSEG's Investor Relations website at https://investor.pseg.com.
I would now like to turn the conference over to Carlotta Chan. Please go ahead.
Carlotta Chan
Good morning, and welcome to PSEG's third quarter 2023 earnings presentation. On today's call are Ralph LaRossa, Chair, President and CEO; and Dan Cregg, Executive Vice President and CFO.
The press release, attachments and slides for today's discussion are posted on our IR website at investor.pseg.com, and our 10-Q will be filed shortly. PSEG's earnings release and other matters discussed during today's call contain forward-looking statements and estimates that are subject to various risks and uncertainties.
We will also discuss non-GAAP operating earnings, which differs from net income or net loss as reported in accordance with generally accepted accounting principle, GAAP in the United States. We include reconciliations of our non-GAAP financial measures and a disclaimer regarding forward-looking statements on our IR website and in today's materials.
Following Ralph and Dan's prepared remarks, we will conduct a 30-minute question-and-answer session. I will now turn the call over to Ralph LaRossa.
Ralph LaRossa
Thank you, Carlotta. Good morning to everyone, and thanks for joining us to review PSEG's third quarter results. Earlier today, PSEG reported third quarter 2020 net income of $0.27 per share compared to net income of $0.22 per share for the third quarter of 2022.
Non-GAAP operating earnings for the third quarter were $0.85 per share compared to $0.86 per share in the third quarter of 2022. Our non-GAAP results exclude items shown in Attachments 8 and 9, which we provided with the earnings release. We are very pleased with the results of both PSE&G and PSEG Power & Other which are continuing to fully meet our planning expectations.