Investing.com - Public Service Enterprise (NYSE:PEG) reported on Monday first quarter earnings that beat analysts' forecasts and revenue that fell short of expectations.
Public Service Enterprise announced earnings per share of $1.03 on revenue of $2.78B. Analysts polled by Investing.com anticipated EPS of $1.02 on revenue of $3.3B. That with comparison to EPS of $1.08 on revenue of $2.98B in the same period a year before. Public Service Enterprise had reported EPS of $0.64 on revenue of $2.48B in the previous quarter. Analysts are expecting EPS of $0.66 and revenue of $2.3B in the upcoming quarter.
Public Service Enterprise shares are down 16% from the beginning of the year , still down 22.65% from its 52 week high of $63.88 set on October 11, 2019. They are under-performing the S&P 500 which is down 12.76% year to date.
Public Service Enterprise shares lost 0.43% in pre-market trade following the report.
Public Service Enterprise follows other major Utilities sector earnings this month
Public Service Enterprise's report follows an earnings beat by NextEra Energy on April 22, who reported EPS of $2.38 on revenue of $4.61B, compared to forecasts EPS of $2.37 on revenue of $4.64B.
Southern had beat expectations on Thursday with first quarter EPS of $0.78 on revenue of $5.02B, compared to forecast for EPS of $0.71 on revenue of $5.47B.
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