Published on 24 Apr 2024 on Zacks via Yahoo Finance

PSEG (PEG) to Report Q1 Earnings: Here's What to Expect

Public Service Enterprise Group Incorporated PEG, or PSEG, is slated to report first-quarter 2024 results on Apr 30 before market open. The company delivered an earnings surprise of 1.89% in the last reported quarter.The company holds a four-quarter average earnings surprise of 11.21%.  Let’s discuss the factors that are likely to be reflected in the upcoming quarterly results.

Factors at Play

PSEG’s service territories witnessed mixed temperature patterns in the first quarter. While at the onset of the January-March 2024 period, warmer-than-normal temperatures were witnessed in the company’s service areas, below-normal temperatures accompanied by snowfall prevailed in the later period. A warmer winter month of January might have hurt electricity demand from PSEG’s customers for heating purposes, whereas a cooler period witnessed later in the quarter might have contributed to its first-quarter revenues.