PSEG: Q4 Earnings Snapshot

Associated Press Finance
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NEWARK, N.J. (AP) — NEWARK, N.J. (AP) — Public Service Enterprise Group Inc. (PEG) on Monday reported fourth-quarter earnings of $546 million.

On a per-share basis, the Newark, New Jersey-based company said it had profit of $1.10. Earnings, adjusted for non-recurring gains, were 54 cents per share.

The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 53 cents per share.

The parent company of PSEG Power and Public Service Electric & Gas Co. posted revenue of $2.61 billion in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $2 billion.

For the year, the company reported profit of $2.56 billion, or $5.13 per share. Revenue was reported as $11.24 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

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