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Public Service Enterprise Group's CEO Discusses Q1 2012 Results - Earnings Call Transcript

Public Service Enterprise Group (PEG)

Q1 2012 Earnings Call

May 02, 2012 11:00 am ET


Kathleen A. Lally - Vice President of Investor Relations

Ralph Izzo - Chairman, Chief Executive Officer, President, Chairman of Executive Committee, Chairman of PSEG Power LLC, Chairman of Public Service Electric & Gas Company, Chief Executive Officer of PSEG Power LLC and Chief Executive Officer of Public Service Electric & Gas Company

Caroline D. Dorsa - Chief Financial Officer and Executive Vice President


Paul B. Fremont - Jefferies & Company, Inc., Research Division

Dan Eggers - Crédit Suisse AG, Research Division

Stephen Byrd - Morgan Stanley, Research Division

Paul Patterson - Glenrock Associates LLC

Unknown Analyst

Steven I. Fleishman - BofA Merrill Lynch, Research Division

Ashar Khan

Kit Konolige - Konolige Research, LLC

Angie Storozynski - Macquarie Research

Travis Miller - Morningstar Inc., Research Division



Ladies and gentlemen, thank you for standing by. Welcome to the Public Service Enterprise Group First Quarter 2012 Earnings Conference Call and Webcast. [Operator Instructions] As a reminder, this conference is being recorded today, Wednesday, May 2, 2012, and will be available for telephone replay beginning at 1:00 p.m., May 2, 2012 to May 16, 2012. It will also be available as an audio webcast on PSEG's corporate website at

I would now like to turn the conference over to Kathleen Lally. Please go ahead.

Kathleen A. Lally

Thank you. Good morning. Thank you for participating in our call this morning. As you are aware, we released our first quarter 2012 earnings statements earlier this morning. The release and attachments are posted on our website at under the Investors section. We also posted a series of slides that detail operating results by company for the quarter. Our 10-Q for the period ended March 31, 2012 is expected to be filed shortly. I won't go through the full disclaimer statements or the comments we have on the difference between operating earnings and GAAP results, but as you know, the earnings release and other matters that we will discuss in today's call contain forward-looking statements and estimates that are subject to various risks and uncertainties. Although we may elect to update forward-looking statements from time to time, we specifically disclaim any obligation to do so, even if our estimate changes, unless required to do so. Our release also contains adjusted non-GAAP operating earnings. Please refer to today's 8-K or other filings for a discussion of the factors that may cause results to differ from management's projections, forecasts and expectations and for a reconciliation of operating earnings to GAAP results.

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