by Tom Johnson, NJSpotlight.com
Public Service Enterprise Group yesterday raised its earning’s guidance, a projection based on the higher prices its fleet of power plants are charging, lower fuel costs, and increased investments in upgrading its transmission system.
In a third-quarter earnings call with analysts, the Newark energy company revised its operating earnings outlook to $2.40-$2.55 per share from the previous guidance of $2.25-$2.59 per share for the full year.
Despite its power plants and utility infrastructure being severely damaged by Hurricane Sandy last fall, as well as witnessing in a drop in sales from its gas and electric utility, the performance was viewed as “solid results’’ by the company’s top executive.Read more at NJSpotlight.com
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