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PSEG: Q2 Earnings Snapshot

Associated Press Finance
·1 min read

NEWARK, N.J. (AP) — NEWARK, N.J. (AP) — Public Service Enterprise Group Inc. (PEG) on Tuesday reported second-quarter net income of $434 million.

On a per-share basis, the Newark, New Jersey-based company said it had net income of 87 cents. Earnings, adjusted for non-recurring gains, came to 63 cents per share.

The results fell short of Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 64 cents per share.

The parent company of PSEG Power and Public Service Electric & Gas Co. posted revenue of $2.42 billion in the period, surpassing Street forecasts. Four analysts surveyed by Zacks expected $2.04 billion.

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

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PEG at https://www.zacks.com/ap/PEG