Public Service Enterprise Q1 2024 GAAP EPS $1.31, Inline, Sales $2.760B Miss $3.065B Estimate
Portfolio Pulse from Benzinga Newsdesk
Public Service Enterprise (NYSE:PEG) reported Q1 2024 earnings of $1.31 per share, meeting analyst estimates. However, their quarterly sales of $2.760 billion fell short of the expected $3.065 billion, marking a 9.94% miss and a 26.50% decrease from the previous year.

April 30, 2024 | 11:32 am
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Public Service Enterprise reported Q1 2024 earnings in line with expectations but missed revenue estimates, showing a significant decrease from the previous year.
Meeting EPS estimates typically has a neutral to positive impact on stock performance. However, missing revenue estimates by nearly 10% and reporting a significant year-over-year sales decline are negative indicators that can lead to bearish investor sentiment in the short term. The substantial miss in revenue expectations and the comparison to last year's figures suggest potential underlying issues that could affect the company's future performance.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100