Yahoo Finance Public Service Enterprise Group First Quarter 2023 Earnings: Beats Expectations
Public Service Enterprise Group (NYSE:PEG) First Quarter 2023 Results
Key Financial Results
Revenue: US$3.76b (up 62% from 1Q 2022).
Net income: US$1.29b (up from US$2.00m loss in 1Q 2022).
Profit margin: 34% (up from net loss in 1Q 2022). The move to profitability was driven by higher revenue.
EPS: US$2.58 (up from US$0.004 loss in 1Q 2022).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Public Service Enterprise Group Revenues and Earnings Beat Expectations
Revenue exceeded analyst estimates by 30%. Earnings per share (EPS) also surpassed analyst estimates by 111%.
Looking ahead, revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 3.4% growth forecast for the Integrated Utilities industry in the US.
Performance of the American Integrated Utilities industry.
The company's shares are down 1.7% from a week ago.
Risk Analysis
We should say that we've discovered 3 warning signs for Public Service Enterprise Group (1 is a bit unpleasant!) that you should be aware of before investing here.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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