Public Service Enterprise (PEG) Tops Q4 EPS by 1c

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Go back to Public Service Enterprise (PEG) Tops Q4 EPS by 1c

PSEG Announces 2016 Results

February 24, 2017 7:30 AM EST

NEWARK, N.J., Feb. 24, 2017 /PRNewswire/ -- (NYSE: PEG) Public Service Enterprise Group (PSEG) reported 2016 Net Income of $887 million, or $1.75 per share as compared to Net Income of $1,679 million, or $3.30 per share for 2015. Non-GAAP Operating Earnings for the year 2016 were $1,475 million or $2.90 per share compared to 2015 non-GAAP Operating Earnings of $1,476 million or $2.91 per share. Net Income for 2016 was largely impacted by expenses associated with the early retirement of coal-gas units at the Hudson and Mercer generating stations and reserves for a leveraged lease impairment. Net Income for 2015 includes insurance proceeds for the recovery of... More