Public Service Enterprise (PEG) Q3 Earnings: What's In Store?
Zacks Investment Research | Oct 26, 2017 09:25PM ET
Public Service Enterprise Group Inc. (NYSE:PEG) is scheduled to report third-quarter 2017 results on Oct 31, before the opening bell.
Last quarter, the utility’s earnings surpassed the Zacks Consensus Estimate by 8.77%. Moreover, Public Service Enterprise outperformed the same in the trailing four quarters with an average of 7.70%.
Let’s see how things are shaping up for this announcement.
Factors at Play
During the second-quarter earnings call, Public Service Enterprise announced that its key subsidiary, PSEG Power’s adjusted earnings is benefiting from the ongoing programs to reduce operating expenses. We expect the company to reflect similar results when it will release its third-quarter earnings..
Additionally, the unemployment rate in Public Service Enterprise’s service territories is better than the national average. An improving economy is likely to the utility demand in the state, thereby improving the company’s quarterly performance.
On the flip side,management earlier declared that the energy market has been adversely impacted by lower demand and excess capacity, which in turn has hurt the return of base load resources, as the average price on energy hedges decline. If the trend persists it might hamper Public Service Enterprise’s results.
Overall, for the third quarter, the Zacks Consensus Estimate for earnings reflects year-over-year decline of 5%, while revenues are pegged at $2.54 billion depicting an increase of 3.9%.
Earnings Whispers
Our proven model does not show that Public Service Enterprise is likely to beat estimates this quarter. That is because a stock needs to have both — a positive Zacks Investment Research
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