Yahoo Finance Public Service Enterprise Group First Quarter 2024 Earnings: Misses Expectations
Public Service Enterprise Group (NYSE:PEG) First Quarter 2024 Results
Key Financial Results
Revenue: US$2.76b (down 27% from 1Q 2023).
Net income: US$532.0m (down 59% from 1Q 2023).
Profit margin: 19% (down from 34% in 1Q 2023). The decrease in margin was driven by lower revenue.
EPS: US$1.07 (down from US$2.59 in 1Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Public Service Enterprise Group Revenues and Earnings Miss Expectations
Revenue missed analyst estimates by 8.8%. Earnings per share (EPS) also missed analyst estimates by 16%.
Looking ahead, revenue is forecast to grow 3.9% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Integrated Utilities industry in the US.
Performance of the American Integrated Utilities industry.
The company's shares are up 3.8% from a week ago.
Valuation
Our analysis of these results suggests Public Service Enterprise Group may be overvalued based on 6 important criteria we look at. To explore our complete evaluation click here and get an understanding of what analysts are thinking about the company's future.
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