Public Service Enterprise Group Earnings Cheat Sheet: Second Straight Quarter of Increasing Profit

S&P 500 (NYSE:SPY) component Public Service Enterprise Group Inc. (NYSE:PEG) reported net income above Wall Street’s expectations for the second quarter. Public Service Enterprise Group Inc. primarily operates as a wholesale energy supply company with nuclear, coal, gas, and oil-fired generation facilities.

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Public Service Enterprise Group Earnings Cheat Sheet for the Second Quarter

Results: Net income for the diversified utilities company rose to $323 million (63 cents per share) vs. $224 million (44 cents per share) in the same quarter a year earlier. This marks a rise of 44.2% from the year earlier quarter.

Actual vs. Wall St. Expectations: PEG beat the mean analyst estimate of 55 cents per share.

Quoting Management: “We have achieved significant operational and regulatory success during the past quarter. Our investment program, a strong balance sheet and the operational focus of a dedicated workforce position PSEG to be a reliable supplier of low-cost, clean energy for the long-term,” said Ralph Izzo, chairman, president and chief executive officer of PSEG.

Key Stats:

The company has now beaten estimates the last two quarters. In the first quarter, it topped expectations with net income of 85 cents versus a mean estimate of net income of 76 cents per share.

Net income has increased 4.1% year over year on average across the last five quarters. The biggest gain came in the most recent quarter, when income climbed 44.2% from the year earlier quarter.

Competitors to Watch: FirstEnergy Corp. (NYSE:FE), Exelon Corporation (NYSE:EXC), Pepco Holdings, Inc. (NYSE:POM), Consolidated Edison, Inc. (NYSE:ED), The Southern Company (NYSE:SO), Xcel Energy Inc. (NYSE:XEL), Genon Energy Inc (NYSE:GEN), Constellation Energy Group, Inc. (NYSE:CEG), CH Energy Group, Inc. (NYSE:CHG), and PPL Corporation (NYSE:PPL).

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(Source: Xignite Financials)

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