NEWARK, N.J. (AP) — NEWARK, N.J. (AP) — Public Service Enterprise Group Inc. (PEG) on Tuesday reported fourth-quarter earnings of $788 million.
On a per-share basis, the Newark, New Jersey-based company said it had net income of $1.58. Earnings, adjusted for non-recurring gains, were 64 cents per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 63 cents per share.
The parent company of PSEG Power and Public Service Electric & Gas Co. posted revenue of $3.14 billion in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $2.18 billion.
For the year, the company reported profit of $1.03 billion, or $2.06 per share. Revenue was reported as $9.8 billion.
PSEG expects full-year earnings in the range of $3.40 to $3.50 per share.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a PEG">Zacks stock report on PEG at https://www.zacks.com/ap/PEG