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Public Service Enterprise Group Third Quarter Earnings
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PEG
Public Service Enterprise Group (NYSE:PEG) announced its results for the third quarter on November 1, 2012. Public Service Enterprise Group primarily operates as a wholesale energy supply company with nuclear, coal, gas, and oil-fired generation facilities.
In most situations, when earnings do not meet analyst estimates, a business' stock price will tend to drop. On the other hand, when actual earnings beat estimates by a significant amount, the share price will likely surge. SEE: Can Earnings Guidance Accurately Predict The Future?
The Numbers: Public Service Enterprise Group missed estimates with 68 cents per share and revenues of $2.4 billion. Analysts were expecting 72 cents per share and revenues of $3.18 billion. EPS rose 17.2% while revenue declined 8.3% from the same period last year. Last quarter marks the third in a row in which the company has seen falling revenue on a year-over-year basis. Public Service Enterprise Group's net income for the third quarter was $347 million. According to the reported number, this is up 18% from last year's figures. Last quarter's profit boost ends a two-quarter streak of year-over-year profit decreases.
Management Quote: Ralph Izzo, Chairman, President and Chief Executive Officer, commented that, "Our third quarter financial results were strong, and, supports our full year operating earnings guidance of $2.25 - $2.50 per share."
A Look Back: Net income has dropped 8.7% year-over-year on average across the last five quarters. Performance was hurt by a 48.1% decline in the third quarter of the last fiscal year from the year-earlier quarter.
Looking Ahead: Analysts have a more positive outlook about the company's results for next quarter. The average estimate for fourth quarter is 41 cents per share, an increase from 39 cents 60 days ago. Increasing earnings estimate is a positive sign about the company and it typically leads a increase in the stock price. The average estimate for the fiscal year is $2.40 per share, a rise from $2.38 90 days ago.
In most situations, when earnings do not meet analyst estimates, a business' stock price will tend to drop. On the other hand, when actual earnings beat estimates by a significant amount, the share price will likely surge. SEE: Can Earnings Guidance Accurately Predict The Future?
The Numbers: Public Service Enterprise Group missed estimates with 68 cents per share and revenues of $2.4 billion. Analysts were expecting 72 cents per share and revenues of $3.18 billion. EPS rose 17.2% while revenue declined 8.3% from the same period last year. Last quarter marks the third in a row in which the company has seen falling revenue on a year-over-year basis. Public Service Enterprise Group's net income for the third quarter was $347 million. According to the reported number, this is up 18% from last year's figures. Last quarter's profit boost ends a two-quarter streak of year-over-year profit decreases.
Management Quote: Ralph Izzo, Chairman, President and Chief Executive Officer, commented that, "Our third quarter financial results were strong, and, supports our full year operating earnings guidance of $2.25 - $2.50 per share."
A Look Back: Net income has dropped 8.7% year-over-year on average across the last five quarters. Performance was hurt by a 48.1% decline in the third quarter of the last fiscal year from the year-earlier quarter.
Looking Ahead: Analysts have a more positive outlook about the company's results for next quarter. The average estimate for fourth quarter is 41 cents per share, an increase from 39 cents 60 days ago. Increasing earnings estimate is a positive sign about the company and it typically leads a increase in the stock price. The average estimate for the fiscal year is $2.40 per share, a rise from $2.38 90 days ago.
by
Investopedia Staff
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