PSEG: Q1 Earnings Snapshot
NEWARK, N.J. (AP) _ Public Service Enterprise Group Inc. (PEG) on Tuesday reported a loss of $2 million in its first quarter.
The Newark, New Jersey-based company said it had a loss of less than 1 cent on a per-share basis. Earnings, adjusted for non-recurring costs, were $1.33 per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.11 per share.
The parent company of PSEG Power and Public Service Electric & Gas Co. posted revenue of $2.31 billion in the period, falling short of Street forecasts. Three analysts surveyed by Zacks expected $2.54 billion.
PSEG expects full-year earnings in the range of $3.35 to $3.55 per share.