Public Service Enterprise Group 4Q Profit, Sales Rise

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)

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