Public Service Enterprise Group, Inc. (PEG) reported that fourth-quarter net income surged to $476 million or $0.94 per share from $200 million or $0.39 per share in the prior-year quarter.
Excluding items, operating earnings for the quarter was $247 million or $0.49 per share, compared to $248 million or $0.49 per share in the year-ago quarter.
On average, ten analysts polled by Thomson Reuters expected the company to report earnings of $0.46 per share for the quarter. Analysts' estimates typically exclude special items.
Operating revenues for the quarter increased to $2.77 billion from $2.32 billion in the same quarter last year. Analysts expected revenue of $2.58 billion for the quarter.
Looking ahead to fiscal 2015, the company expects operating earnings per share in a range of $2.75 to $2.95 per share, while Street is currently looking for earnings of $2.76 per share.
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