NEWARK, N.J. (AP) — NEWARK, N.J. (AP) — Public Service Enterprise Group Inc. (PEG) on Thursday reported fourth-quarter net income of $315 million.
The Newark, New Jersey-based company said it had profit of 63 cents per share. Earnings, adjusted for non-recurring costs, were 72 cents per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 71 cents per share.
The parent company of PSEG Power and Public Service Electric & Gas Co. posted revenue of $2.92 billion in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $2.58 billion.
For the year, the company reported profit of $2.11 billion, or $4.22 per share. Revenue was reported as $12.17 billion.
PSEG expects full-year earnings in the range of $4.28 to $4.40 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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