Public Service Enterprise Group (PSEG) posted lower net income of $320 million or $0.63 per share in the first quarter, versus $493 million or $0.97 per share, a year before.
During the recent quarter, operating earnings stood at $433 million or $0.85 per share. On average, 13 analysts polled by Thomson Reuters expected earnings per share of $0.74 for the quarter. Analysts' estimates typically exclude one-time items.
For 2013, the company still expects operating earnings in the range of $2.25 - $2.50 per share, while 19 analysts project annual earnings of $2.37 a share. PSEG Operating earnings is likely to range between $1.14 billion and $1.27 billion for the full year.
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