By Dave Sebastian

 

Public Service Enterprise Group Inc. said its profit rose for the fourth quarter as revenue increased.

The energy company on Wednesday posted net income of $437 million, or 86 cents a share, compared with $199 million, or 39 cents a share in the comparable quarter last year. Adjusted earnings were 64 cents a share.

Analysts polled by FactSet were looking for earnings of 66 cents a share, or 62 cents a share on an adjusted basis.

Revenue for the quarter rose to $2.48 billion from $2.47 billion in the prior year. Analysts polled by FactSet were looking for $2.85 billion.

PSE&G reported earnings of 54 cents a share, up from 47 cents a share in the year-ago period. PSEG Power had earnings of 32 cents a share, compared with a loss of 7 cents a share last year. The PSEG Enterprise and other segment broke even for the quarter, compared with a loss of a penny a share in the comparable quarter last year.

 

Write to Dave Sebastian at dave.sebastian@wsj.com

 

(END) Dow Jones Newswires

February 26, 2020 07:59 ET (12:59 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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