Public Service Enterprise Group
The 10-second takeaway
For the quarter ended March 31 (Q1), Public Service Enterprise Group missed estimates on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue dropped. Non-GAAP earnings per share was unchanged. GAAP earnings per share dropped significantly.
Margins dropped across the board.
Public Service Enterprise Group booked revenue of $2.79 billion. The three analysts polled by S&P Capital IQ predicted sales of $2.99 billion on the same basis. GAAP reported sales were the same as the prior-year quarter's.
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 13 earnings estimates compiled by S&P Capital IQ forecast $0.73 per share. Non-GAAP EPS of $0.85 were the same as the prior-year quarter. GAAP EPS of $0.63 for Q1 were 35% lower than the prior-year quarter's $0.97 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 33.1%, 400 basis points worse than the prior-year quarter. Operating margin was 21.9%, 530 basis points worse than the prior-year quarter. Net margin was 11.5%, 560 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $2.01 billion. On the bottom line, the average EPS estimate is $0.45.
Next year's average estimate for revenue is $10.25 billion. The average EPS estimate is $2.39.
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 $32.31.
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