NEWARK, N.J. (AP) — NEWARK, N.J. (AP) — Public Service Enterprise Group Inc. (PEG) on Wednesday reported first-quarter profit of $589 million.
The Newark, New Jersey-based company said it had net income of $1.18 per share. Earnings, adjusted for non-recurring costs, came to $1.43 per share.
The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.46 per share.
The parent company of PSEG Power and Public Service Electric & Gas Co. posted revenue of $3.22 billion in the period, exceeding Street forecasts. Three analysts surveyed by Zacks expected $2.85 billion.
PSEG expects full-year earnings in the range of $3.94 to $4.06 per share.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PEG at https://www.zacks.com/ap/PEG
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