WASHINGTON (dpa-AFX) - (adds Outlook)
Public Service Enterprise Group Inc (PEG) released earnings for its second quarter that increased from last year and beat the Street estimates.
The company's earnings came in at $591 million, or $1.18 per share. This compares with $131 million, or $0.26 per share, in last year's second quarter.
Excluding items, Public Service Enterprise Group Inc reported adjusted earnings of $351 million or $0.70 per share for the period.
Analysts on average had expected the company to earn $0.63 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter rose 16.3% to $2.42 billion from $2.08 billion last year.
Outlook
For fiscal 2023, the company continues to expect operating earnings of $3.40 to $3.50 per share.
Analysts expect earnings of $3.45 per share for the year.
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