Pseg: Q1 Earnings Snapshot

NEWARK, N.J. (AP) — NEWARK, N.J. (AP) — Public Service Enterprise Group Inc. (PEG) on Tuesday reported first-quarter profit of $532 million.

On a per-share basis, the Newark, New Jersey-based company said it had net income of $1.06. Earnings, adjusted for non-recurring costs, were $1.31 per share.

The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.32 per share.

The parent company of PSEG Power and Public Service Electric & Gas Co. posted revenue of $2.76 billion in the period, beating Street forecasts. Three analysts surveyed by Zacks expected $2.65 billion.

PSEG expects full-year earnings in the range of $3.60 to $3.70 per share.


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