Public Service Enterprise Q3 Earnings Top Estimates; Narrows FY22 EPS Forecast

by Shivani Kumaresan, Benzinga Staff Writer

October 31, 2022 10:50 AM | 1 min read | Make a Comment

Public Service Enterprise Group Inc PEG reported third-quarter FY22 sales growth of 19.4% year-on-year to $2.27 billion, beating the consensus of $2.04 billion.
The operating expenses for the quarter declined 48.9% Y/Y to $2.1 billion.
The operating margin was 7.6%, and operating income for the quarter was $173 million, compared to a loss of $(2.2) billion.
The company held $418 million in cash and equivalents as of September 30, 2022. Cash provided by operating activities for nine months totaled $701 million.
Adjusted EPS of $0.86 beat the analyst consensus of $0.82.
Outlook: Public Service narrowed FY22 adjusted EPS to $3.40 - $3.50 from $3.35 - $3.55 versus an estimate of $3.47.
Price Action: PEG shares are trading lower by 3.38% at $55.49 on the last check Monday.
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