PSEG (PEG) Q2 Earnings Miss Estimates

Core Viewpoint - PSEG reported quarterly earnings of $0.63 per share, slightly missing the Zacks Consensus Estimate of $0.64 per share, and down from $0.70 per share a year ago [1][2] Financial Performance - The earnings surprise for the quarter was -1.56%, and the company had a previous quarter earnings of $1.31 per share, missing the estimate of $1.32 by -0.76% [2] - PSEG's revenues for the quarter ended June 2024 were $2.42 billion, surpassing the Zacks Consensus Estimate by 18.71%, consistent with year-ago revenues [3] - Over the last four quarters, PSEG has exceeded consensus EPS estimates two times and topped consensus revenue estimates four times [3] Stock Performance - PSEG shares have increased approximately 25.8% since the beginning of the year, outperforming the S&P 500's gain of 14.5% [5] Future Outlook - The company's earnings outlook is crucial for investors, with current consensus EPS estimates at $0.98 for the coming quarter and $3.68 for the current fiscal year [6][9] - The estimate revisions trend for PSEG is currently favorable, resulting in a Zacks Rank 2 (Buy) for the stock, indicating expected outperformance in the near future [8] - The Utility - Electric Power industry is ranked in the top 29% of Zacks industries, suggesting a positive outlook for stocks within this sector [11]