Public Service Enterprise Group Incorporated (PEG - Free Report) , or PSEG, reported third-quarter 2023 adjusted operating earnings of 85 cents per share, which beat the Zacks Consensus Estimate of 75 cents by 13.3%. However, earnings decreased 1.2% from the prior-year reported figure.
The company reported quarterly GAAP earnings per share (EPS) of 27 cents in the third quarter of 2023 compared with 22 cents reported in the third quarter of 2022.
Total Revenues
Operating revenues came in at $2,456 millionin the third quarter, which beat the Zacks Consensus Estimate of $2,423.5 million by 1.3%. The top line also increased by 8.1% from the year-ago quarter’s $2,076 million.
In the quarter, electric sales volumes were 11,723 million kilowatt-hours, while gas sales volumes were 476 million therms.
Under electric sales, residential sales volumes were 4,518 million kilowatt-hours, down 9% from the prior-year quarter figure. Itscommercial and industrial sales volumes accounted for 7,133 million kilowatt-hours, registering a decline of 2% from the same period last year.
Other sales were 72 million kilowatt-hours, flat with the year-ago quarter figure.
Total gas sales volumes witnessed an increaseof14% in firm sales volumes and a drop of 12% in the non-firm sales volumes of gas from the year-ago quarter figure.
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Public Service Enterprise Group Incorporated (PEG - Free Report) , or PSEG, reported third-quarter 2023 adjusted operating earnings of 85 cents per share, which beat the Zacks Consensus Estimate of 75 cents by 13.3%. However, earnings decreased 1.2% from the prior-year reported figure.
The company reported quarterly GAAP earnings per share (EPS) of 27 cents in the third quarter of 2023 compared with 22 cents reported in the third quarter of 2022.
Total Revenues
Operating revenues came in at $2,456 millionin the third quarter, which beat the Zacks Consensus Estimate of $2,423.5 million by 1.3%. The top line also increased by 8.1% from the year-ago quarter’s $2,076 million.
In the quarter, electric sales volumes were 11,723 million kilowatt-hours, while gas sales volumes were 476 million therms.
Under electric sales, residential sales volumes were 4,518 million kilowatt-hours, down 9% from the prior-year quarter figure. Itscommercial and industrial sales volumes accounted for 7,133 million kilowatt-hours, registering a decline of 2% from the same period last year.
Other sales were 72 million kilowatt-hours, flat with the year-ago quarter figure.
Total gas sales volumes witnessed an increaseof14% in firm sales volumes and a drop of 12% in the non-firm sales volumes of gas from the year-ago quarter figure.
5 Stocks Set to Double
Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>
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