Public Service Enterprise Q1 Profit Surges; Backs 2015 Outlook - Quick Facts

(RTTNews) - Public Service Enterprise Group, Inc. (PEG) reported that first-quarter net income surged to $586 million or $1.15 per share from $386 million or $0.76 per share in the prior-year quarter.

Excluding items, operating earnings for the quarter was $529 million or $1.04 per share, compared to $515 million or $1.01 per share in the year-ago quarter.

On average, 13 analysts polled by Thomson Reuters expected the company to report earnings of $0.96 per share for the quarter. Analysts' estimates typically exclude special items.

Operating revenues for the quarter decreased to $3.14 billion from $3.22 billion in the same quarter last year. Analysts expected revenue of $3.05 billion for the quarter.

Looking ahead to fiscal 2015, the company continues to expect operating earnings per share in a range of $2.75 to $2.95 per share, while Street is currently looking for earnings of $2.87 per share.