The Public Service Enterprise Group has reported net income of $656 million, or $1.29 per diluted share, for the third quarter of 2008, compared to $506 million, or $0.99 per diluted share, for the same period of 2007.
The Public Service Enterprise Group (PSEG) has reported income from continuing operations of $476 million, or $0.94 per share, for the third quarter of 2008, compared to $490 million, or $0.96 per share, for the same period of 2007.
According to the company, operating earnings in the third quarter of 2008 were equivalent to income from continuing operations. Excluding a $7 million impairment of the company’s investment in Turboven, operating earnings in the third quarter of 2007 were $497 million or $0.97 per share.
Ralph Izzo, chairman, president and CEO of PSEG, said: “Although the economy is experiencing turbulence, the focus of PSEG’s employees continues to provide the solid foundation that allowed us to report good earnings for the first nine months of the year, and supports our 2008 earnings guidance of $2.80 to $3.05 per share.”
Public Service Enterprise Group (PSEG) is a publicly traded energy company headquartered in New Jersey, U.S.