Public Service Enterprise Group
The 10-second takeaway
For the quarter ended March 31 (Q1), Public Service Enterprise Group met expectations on revenues and crushed expectations on earnings per share.
Compared to the prior-year quarter, revenue contracted and GAAP earnings per share contracted.
Margins improved across the board.
Public Service Enterprise Group booked revenue of $2.88 billion. The four analysts polled by S&P Capital IQ anticipated revenue of $2.92 billion on the same basis. GAAP reported sales were 14% lower than the prior-year quarter's $3.35 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.85. The 14 earnings estimates compiled by S&P Capital IQ forecast $0.67 per share. GAAP EPS of $0.97 for Q1 were 6.7% lower than the prior-year quarter's $1.04 per share. (The prior-year quarter included $0.13 per share in earnings from discontinued operations.)
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 37.1%, 310 basis points better than the prior-year quarter. Operating margin was 27.2%, 170 basis points better than the prior-year quarter. Net margin was 17.1%, 140 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $2.25 billion. On the bottom line, the average EPS estimate is $0.46.
Next year's average estimate for revenue is $11.23 billion. The average EPS estimate is $2.38.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Public Service Enterprise Group is hold, with an average price target of $31.81.
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Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.