Public Service Enterprise Group (PEG) Q3 2022 Earnings Call Transcript

For the period ending September 30, 2022

October 31, 2022 11:00 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Ladies and gentlemen, thank you for standing by. My name is Rob and I am your event operator today. I would like to welcome everyone to Today's Conference, Public Service Enterprise Group's Third Quarter 2022 Earnings Conference Call and Webcast. At this time, all participants are in a listen-only mode. As a reminder, this conference is being recorded today, October 31, 2022, and will be available for reply as an audio webcast on PSEG's Investor Relations website at https://investor.pseg.com.

I'd now like to turn the conference over to Carlotta Chan. Please go ahead.

Carlotta Chan - VP, IR

Thank you, Rob. Welcome to PSEG's third quarter 2022 earnings presentation. Joining us on the call today are Ralph LaRossa, President and Chief Executive Officer of PSEG; and Dan Cregg, Executive Vice President and Chief Financial Officer.

Our press release attachments and slides for the discussion today are posted on our Web site and our 10-Q will be filed shortly. The 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 loss as reported in accordance with generally accepted accounting principles or GAAP in the United States. We include reconciliations of our non-GAAP financial measures and a disclaimer regarding forward-looking statements on our IR Web site and in today's material.

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.

Ralph LaRossa - Chair, President and CEO

Thank you, Carlotta, and thank you all for joining us today. As you may know, this is my first earnings call since becoming CEO in September. And if you've met with us over the past few months, you've heard me lay out my initial action plan for PSEG to deliver value to our investors.

The focus is clear and simple. Continue to grow the company through investments with appropriate risk adjusted returns, and increase the predictability of our business by reducing the variability in both financial and operating results. PSEG has a solid utility operation, a constructive regulatory and policy environment, and now a federal tax incentive for a nuclear fleet that stabilizes its cash flows for a decade. Together, these attributes make PSEG a compelling investment.