- Public Service Enterprise Group Inc (NYSE:PEG) reported third-quarter FY22 sales growth of 19.4% year-on-year to $2.27 billion, beating the consensus of $2.04 billion.
- The operating expenses for the quarter declined 48.9% Y/Y to $2.1 billion.
- The operating margin was 7.6%, and operating income for the quarter was $173 million, compared to a loss of $(2.2) billion.
- The company held $418 million in cash and equivalents as of September 30, 2022. Cash provided by operating activities for nine months totaled $701 million.
- Adjusted EPS of $0.86 beat the analyst consensus of $0.82.
- Outlook: Public Service narrowed FY22 adjusted EPS to $3.40 – $3.50 from $3.35 – $3.55 versus an estimate of $3.47.
- Price Action: PEG shares are trading lower by 3.38% at $55.49 on the last check Monday.
- Photo Via Company
RBC Capital Maintains Outperform on Blackstone Secured, Lowers Price Target to $30
RBC Capital analyst Kenneth Lee maintains Blackstone Secured (NYSE:BXSL) with a Outperform and lowers the price target from $32 to $30.
