Public Service Enterprise Group (NYSE:PEG)

"Our results continue to demonstrate the strength of our employees' commitment to meeting objectives in the face of difficult market conditions and abnormally cool weather," said Ralph Izzo, chairman, president and chief executive officer. "We experienced the impact of the second coolest June since 1970." He went on to say that "we have accomplished a great deal in this quarter which provides strong support for PSEG meeting its long term goals. Regulatory approvals for major PSE&G initiatives, two of which have been received in the past 30 days, support growth as we answer the state's needs for jobs and clean energy; and additional successful sales of some of our leveraged leases enhance our financial strength. The abnormally cool weather conditions we have experienced through the end of July will challenge our ability to meet the upper end of our 2009 earnings guidance range of $3.00-$3.25 per share."

Source: PR Newswire (July 31, 2009)

“PSEG’s results for the first quarter of 2009 demonstrate the strength of operations and the diversity of our asset base in the face of difficult market conditions” said Ralph Izzo, chairman, president and chief executive officer of PSEG."

Izzo indicated that “the market remains challenging, with power prices down and demand softening. But, effective portfolio management and cost control efforts give us the confidence to manage through these difficult times.” He went on to say “we continue to support our operating earnings guidance for 2009 of $3.00-$3.25 per share.”

Source: SEC Form 8K (May 4, 2009)

Guidance Report:

Full Year Fiscal 2009 Guidance Ending December

EPS Figures exclude non-operating gains and losses (Non-GAAP).

"Izzo indicated that PSEG was refining its operating earnings guidance for 2009 to $3.00-$3.25 per share in accordance with statements made in the Fall. "We indicated to the financial community in our third quarter earnings release that we were expecting earnings for 2009 to come in at the lower half of our previously stated range of $3.05-$3.35 per share. This remains our expectation. The outlook for the economy remains weak; but, with the commitment of management and the support of PSEG's employees to control costs, we expect to be able to manage through these difficult times and meet the earnings objectives we established."

Source: PR Newswire (February 3, 2009)