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UPDATE: Public Service Enterprise Q2 Profit Misses Expectations

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Courtesy of Benzinga.

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Public Service Enterprise Group (NYSE: PEG) reported weaker-than-expected second-quarter earnings.

The Newark, New Jersey-based company posted a quarterly profit of $212 million, or $0.42 per share, versus a year-ago profit of $333 million, or $0.66 per share. Excluding certain items, its operating earnings climbed to $0.49 from $0.48 per share.

PSEG’s operating revenue declined 2.6% to $2.25 billion. However, analysts were estimating a profit of $0.51 per share on revenue of $2.24 billion.

For the full year, PSEG projects earnings to be at the upper end of its forecast of $2.55 to $2.75 per share. Analysts expected earnings of $2.74 per share.

PSEG shares fell 0.16% to $37.00 in pre-market trading.

Posted-In: profitEarnings News Guidance

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