These are top 10 stocks traded on the Robinhood UK platform in July
NEWARK, N.J. -On Tuesday, Public Service Enterprise Group (NYSE:PEG) reported fourth quarter earnings that topped analyst expectations, while initiating 2025 guidance above consensus estimates.
The utility company’s stock edged down -1.11% following the release.
PSEG posted adjusted earnings per share of $0.84 for Q4, beating the analyst consensus of $0.83. Revenue came in at $2.46 billion, surpassing estimates of $2.19 billion.
For the full year 2024, PSEG reported non-GAAP operating earnings of $3.68 per share, up from $3.48 in 2023.
Looking ahead, the company initiated 2025 non-GAAP operating earnings guidance of $3.94 to $4.06 per share, with the midpoint of $4.00 above the $3.98 analyst consensus. This represents an increase of approximately 9% over 2024 results at the midpoint.
"PSEG posted strong operating and financial results for the fourth quarter, completing the full year of 2024 having achieved several strategic and regulatory objectives," said Ralph LaRossa, chair, president and CEO of PSEG.
The company also announced plans to invest $3.8 billion in regulated investments in 2025, focused on infrastructure modernization, energy efficiency, and electrification initiatives. PSEG raised its 2025-2029 capital spending plan to $22.5 billion - $26 billion, up $3.5 billion from its prior plan.
PSE&G, the company’s regulated utility, saw full year net income rise to $1.55 billion from $1.52 billion in 2023. The segment benefited from increased investment in infrastructure replacement and energy efficiency programs.
While reporting solid results, PSEG’s stock dipped slightly in early trading, likely due to profit-taking after recent gains. The company’s long-term outlook remains positive, with plans for continued regulated investment driving future earnings growth.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.