PSEG, Inc. (PEG) Misses Q2 EPS by 2c; Sees FY EPS at High End of Range

PSEG, Inc. (NYSE: PEG) reported Q2 EPS of $0.49, $0.02 worse than the analyst estimate of $0.51.

PSEG, Inc. sees FY2014 EPS at high end of $2.55-$2.75, versus the consensus of $2.72.

"Our results in the second quarter reflect the benefit of our diversified business model, the growth in our regulated utility company capital program and our long-term focus on operating in a safe, reliable manner as we meet the needs of our customers and shareholders," said Ralph Izzo, chairman, president and chief executive officer. "The primary driver of growth – increased investment in transmission in our utility, PSE&G – remained strong in the second quarter offsetting the impact from mixed operating conditions. We are delivering on the growth potential of our multi-billion dollar capital program while at the same time our favorable natural gas supply position continues to yield benefits for customers and shareholders. PSE&G remains on course to provide greater than 50% of our forecast operating earnings for the year as Power is well positioned to generate solid earnings and free cash flow. Based on our performance thus far in the year, and assuming normal weather and operations over the remainder of the year, we expect operating earnings for the full year to be at the upper end of our guidance of $2.55 - $2.75 per share."

For earnings history and earnings-related data on PSEG, Inc. (PEG) click here.

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