Sector: Utilities|Industry: Utilities - Regulated Electric|Market Cap: $41.34B|Employees: 12.5K
Public Service Enterprise Group (PSEG) is a public utility holding company with operations primarily in the regulated electric and gas utility sector and a nuclear generation business. Through its subsidiaries, PSEG delivers electricity and natural gas to customers in New Jersey and generates power through nuclear facilities in New Jersey and Pennsylvania. The company's market position is supported by its regulated utility operations and its nuclear generation assets.
Operating revenues for the three months ended June 30, 2024, were $2,423 million, which is essentially the same as the $2,421 million reported for the same period in 2023. This indicates a lack of growth in revenue generation.
Net income for the three months ended June 30, 2024, was $434 million, a substantial decrease compared to the $591 million reported for the same period in 2023. This represents a negative trend in profitability.
Operating income for the three months ended June 30, 2024, was $582 million, a decrease from the $794 million reported for the same period in 2023. This decline indicates a weakening in core operational profitability.