Earnings Call Excerpt
Public Service Enterprise Group Inc. (PEG)
Q2 2009 Earnings Call
July 31, 2009 11:00 am ET
Executives
Kathleen Lally – Vice President, Investor Relations
Ralph Izzo – Chairman President and Chief Executive Officer
Caroline Dorsa – Executive Vice President and Chief Financial Officer
Analysts
Daniel Eggers – Credit Suisse
Nathan Judge – Atlantic Equities
Greg Gordon – Morgan Stanley
David Frank – Catapult
Ashar Kahan – Incremental Capital
Paul Patterson – Glen Rocks Associates
Andrew Levi – Incremental Capital
Mark Siegel – Canaccord Adams
Mike Worms – BMO Capital Markets
Daniele Seitz – Dudack Research
Presentation
Operator
I would like to welcome everyone to the Public Service Enterprise Group second quarter 2009 earnings call. (Operator Instructions). Ms. Kathleen Lally, you may begin your conference.
Kathleen Lally
Thank you all for participating in our call this morning. We released our second quarter 2009 earnings statements earlier today. The release and attachments are posted on our website, www.pseg.com, under the Investor section. And we also posted a series of slides that detail operating results by company for the quarter. Our 10-Q for the period ended June 30th, 2009 is expected to be filed later today after the close.
I am not going to read the full disclaimer statements or the comments we have on the difference between operating earnings and GAAP results, but I do ask that you all read those comments contained in our slides and on our website.
The disclaimer statement regards forward-looking statements detailing the number of risks and uncertainties that could cause actual results to differ materially from forward-looking statements made therein. And 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 by applicable securities laws.
We also present the commentary with regard to the difference between operating earnings and net income reported in accordance with generally accepted accounting principles in the United States.
PSEG believes that the non-GAAP financial measure of operating earnings provides a consistent and comparable measure of performance of metrics to help shareholders understand performance trends.
I would now like to turn the call over to Ralph Izzo, Chairman President, and Chief Executive Officer of Public Service Enterprise Group. Joining Ralph on the call is Caroline Dorsa, Executive Vice President and Chief Financial Officer.
At the conclusion of their remarks, there will be time for your questions and we ask that you limit yourself to one question and one follow-up.
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