PSEG: Q2 Earnings Snapshot

Associated Press Finance
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NEWARK, N.J. (AP) — NEWARK, N.J. (AP) — Public Service Enterprise Group Inc. (PEG) on Tuesday reported second-quarter net income of $591 million.

The Newark, New Jersey-based company said it had net income of $1.18 per share. Earnings, adjusted for non-recurring gains, came to 70 cents per share.

The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 61 cents per share.

The parent company of PSEG Power and Public Service Electric & Gas Co. posted revenue of $2.42 billion in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $2.03 billion.

PSEG expects full-year earnings in the range of $3.40 to $3.50 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

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