Newark, NJ-based Public Service Enterprise Group Inc. (PEG) or PSEG is a diversified utility holding company. Its operations are mostly located in the Northeastern and Mid-Atlantic parts of the U.S.
Public Service Enterprise has a solid portfolio of regulated and non-regulated utility assets that offer a stable earnings and significant long-term growth potential.
The company has invested substantially to improve the reliability and efficiency of transmission and distribution systems. Public Service Enterprise Group is now working to add renewable generation in its portfolio to lower carbon emission.
Estimate Trend & Surprise History
Investors should note that the second quarter Zacks Consensus Estimate for earnings of 54 cents per share has decreased by 6.9% over the last 90 days.
Coming to the earnings surprise, Public Service Enterprise has surpassed the Zacks Consensus Estimate in three of the last four quarters, resulting in a positive average surprise of 0.83%.
Zacks Rank: Currently, Public Service Enterprise has a Zacks Rank#3 (Hold) but that could change following its second quarter 2015 earnings report which has just released. We have highlighted some of the key details from the just-released announcement below:
Earnings: Public Service Enterprise surpassed earnings estimate. Operating earnings per share came in at 57 cents, beating the Zacks Consensus Estimate of 54 cents by 5.6%.
Revenue: Revenues of $2,314 million surpassed the Zacks Consensus Estimate of $2,267 million by 2.1%.
Key Stats: During the reported quarter, Electric sales volume increased 2.5% year over year to 9,865 million kilowatt-hours, while Gas sales volume decreased 9.8% to 830 million therms.
Guidance: The company lifted its full year 2015 earnings guidance to $2.80 – $2.95 per share from $2.75 – $2.95 per share.
Stock Price: It would be interesting to see how the market reacts to the second quarter earnings beat during the trading session today.
Check back later for our full write up on this PEG earnings report later!
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