UPDATE: Public Service Enterprise Q2 Profit Misses Expectations

Public Service Enterprise Group

reported weaker-than-expected second-quarter earnings. The Newark, New Jersey-based company posted a quarterly profit of $212 million, or $0.42 per share, versus a year-ago profit of $333 million, or $0.66 per share. Excluding certain items, its operating earnings climbed to $0.49 from $0.48 per share. PSEG's operating revenue declined 2.6% to $2.25 billion. However, analysts were estimating a profit of $0.51 per share on revenue of $2.24 billion. For the full year, PSEG projects earnings to be at the upper end of its forecast of $2.55 to $2.75 per share. Analysts expected earnings of $2.74 per share. PSEG shares fell 0.16% to $37.00 in pre-market trading.