Public Service Enterprise Group Beats on EPS But GAAP Results Lag
Feb 22nd 2013 12:07PM
Updated May 1st 2013 9:30PM
Public Service Enterprise Group (NYS: PEG) reported earnings on April 30. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended March 31 (Q1), Public Service Enterprise Group missed estimates on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue dropped. Non-GAAP earnings per share was unchanged. GAAP earnings per share dropped significantly.
Margins dropped across the board.
Public Service Enterprise Group booked revenue of $2.79 billion. The three analysts polled by S&P Capital IQ predicted sales of $2.99 billion on the same basis. GAAP reported sales were the same as the prior-year quarter's.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.85. The 13 earnings estimates compiled by S&P Capital IQ forecast $0.73 per share. Non-GAAP EPS of $0.85 were the same as the prior-year quarter. GAAP EPS of $0.63 for Q1 were 35% lower than the prior-year quarter's $0.97 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 33.1%, 400 basis points worse than the prior-year quarter. Operating margin was 21.9%, 530 basis points worse than the prior-year quarter. Net margin was 11.5%, 560 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $2.01 billion. On the bottom line, the average EPS estimate is $0.45.
Next year's average estimate for revenue is $10.25 billion. The average EPS estimate is $2.39.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Public Service Enterprise Group is hold, with an average price target of $32.31.
Can your portfolio provide you with enough income to last through retirement? You'll need more than Public Service Enterprise Group. Learn how to maximize your investment income and "Secure Your Future With 9 Rock-Solid Dividend Stocks." Click here for instant access to this free report.
- Add Public Service Enterprise Group to My Watchlist.
The article Public Service Enterprise Group Beats on EPS But GAAP Results Lag originally appeared on Fool.com.Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.