NEWARK, N.J. (AP) — NEWARK, N.J. (AP) — Public Service Enterprise Group Inc. (PEG) on Tuesday reported fourth-quarter earnings of $286 million.
The Newark, New Jersey-based company said it had profit of 57 cents per share. Earnings, adjusted for non-recurring costs, were 84 cents per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 83 cents per share.
The parent company of PSEG Power and Public Service Electric & Gas Co. posted revenue of $2.47 billion in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $2.31 billion.
For the year, the company reported profit of $1.77 billion, or $3.54 per share. Revenue was reported as $10.29 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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