Public Service Enterprise Group Inc Q1 Profit Drops, Inline With Estimates

(RTTNews) - Public Service Enterprise Group Inc (PEG) revealed earnings for first quarter that decreased from the same period last year in line with the Street estimates.

The company's bottom line came in at $532 million, or $1.06 per share. This compares with $1.29 billion, or $2.58 per share, in last year's first quarter.

Excluding items, Public Service Enterprise Group Inc reported adjusted earnings of $657 million or $1.31 per share for the period.

Analysts on average had expected the company to earn $1.31 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 27.0% to $2.76 billion from $3.78 billion last year.

Public Service Enterprise Group Inc earnings at a glance (GAAP) :

-Earnings (Q1): $532 Mln. vs. $1.29 Bln. last year. -EPS (Q1): $1.06 vs. $2.58 last year. -Revenue (Q1): $2.76 Bln vs. $3.78 Bln last year.

-Guidance: Full year EPS guidance: $3.60 - $3.70