Public Service Enterprise Group Inc Q2 Profit Increases, beats estimates

(RTTNews) - Public Service Enterprise Group Inc (PEG) released earnings for its second quarter that increased from last year and beat the Street estimates.

The company's earnings came in at $591 million, or $1.18 per share. This compares with $131 million, or $0.26 per share, in last year's second quarter.

Excluding items, Public Service Enterprise Group Inc reported adjusted earnings of $351 million or $0.70 per share for the period.

Analysts on average had expected the company to earn $0.63 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 16.3% to $2.42 billion from $2.08 billion last year.

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

-Earnings (Q2): $591 Mln. vs. $131 Mln. last year. -EPS (Q2): $1.18 vs. $0.26 last year. -Analyst Estimate: $0.63 -Revenue (Q2): $2.42 Bln vs. $2.08 Bln last year.

-Guidance: Full year EPS guidance: $3.40 - $3.50