Public Service Enterprise Group 4Q Profit, Sales Rise

Date : 02/26/2020 @ 1:14PM
Source : Dow Jones News
Stock : Public Service Enterprise Group Inc (PEG)
Quote : 44.36  -0.92 (-2.03%) @ 10:15PM
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Last $ 44.36 ◊ 0.00 (0.00%)

Public Service Enterprise Group 4Q Profit, Sales Rise

Public Service Enterprise (NYSE:PEG)
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2 Months : From Feb 2020 to Apr 2020

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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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