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Public Service Enterprise Q1 Earnings Surpass Estimates; Reiterates Annual Guidance

Below are the earnings highlights for Public Service Enterprise Group Inc (PEG):

Earnings: -$2 million in Q1 vs. $648 million in the same period last year.

EPS: $0.00 in Q1 vs. $1.28 in the same period last year.

Excluding items, Public Service Enterprise Group Inc reported adjusted earnings of $672 million or $1.33 per share for the period.

Analysts projected $1.12 per share

Revenue: $2.31 billion in Q1 vs. $2.89 billion in the same period last year.

Looking forward, Public Service Enterprise confirmed its full-year outlook for operating earnings, excluding items, of $3.35 - $3.55 per share.

It also backed annual net income outlook of $1.51 billion - $1.56 billion.

Analysts on average expect the company to report earnings of $3.47 a share.

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