Company supports 2009 earnings guidance of $3.00 - $3.25 per share
US-based power and natural gas utility Public Service Enterprise Group has reported a net income of $1.18 billion, or $2.34 per share, for the year 2008, compared to $1.33 billion, or $2.62 per share, for the year 2007.
The Public Service Enterprise Group (PSEG) has reported income from continuing operations of $983 million, or $1.93 per share, for 2008, compared to $1.32 billion, or $2.60 per share, for 2007.
According to the company, for the fourth quarter of 2008, it has reported income from continuing operations of $237 million, or $0.46 per share, compared to $219 million, or $0.42 per share, for the same period of 2007.
The company has reported a net income of $234 million, or $0.46 per share, for the fourth quarter of 2008, compared to $225 million, or $0.43 per share, for the same quarter of 2007.
Ralph Izzo, chairman, president and CEO of PSEG, said: “PSEG performed well in a difficult environment. Tthe sale of international assets improved our liquidity and strengthened our balance sheet during a period of unprecedented financial market turbulence.”
PSE&G is a regulated public utility company engaged in the transmission and distribution of gas and electricity to nearly three quarters of New Jersey’s population.