Public Service Enterprise Group 4Q Profit, Sales Rise
February 26 2020 - 8:14AM
Dow Jones News
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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