New Risk • Jul 08
New major risk - Share price stability The company's shares are highly illiquid. Its shares have only traded on 1 day in the past 3 months. This is considered a major risk. A lack of liquidity can be a big problem for shareholders. If there are not enough willing buyers of the stock, selling down a large shareholding may take a long time or it can crush the share price, potentially exposing shareholders to losses or reduced profits. It also means the share price may not be reflective of the true value of the company because there is infrequent price discovery. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (15% operating cash flow to total debt). Shares are highly illiquid. Minor Risk Dividend is not well covered by cash flows (dividend per share is over 7x cash flows per share). Duyuru • Mar 04
Public Service Enterprise Group Incorporated, Annual General Meeting, Apr 21, 2026 Public Service Enterprise Group Incorporated, Annual General Meeting, Apr 21, 2026. Reported Earnings • Feb 27
Full year 2025 earnings released: EPS: US$4.22 (vs US$3.56 in FY 2024) Full year 2025 results: EPS: US$4.22 (up from US$3.56 in FY 2024). Revenue: US$12.2b (up 18% from FY 2024). Net income: US$2.11b (up 19% from FY 2024). Profit margin: 17% (in line with FY 2024). Revenue is forecast to grow 3.3% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Integrated Utilities industry in Europe. Duyuru • Feb 26
Public Service Enterprise Group Incorporated Declares Quarterly Dividend for the First Quarter of 2026, Payable on or Before March 31, 2026 The Board of Directors of Public Service Enterprise Group declared a $0.67 per share quarterly common stock dividend for the first quarter of 2026, payable on or before March 31, 2026, to shareholders of record on March 10, 2026. This action represents an increase of $0.04 per share in the company's quarterly common stock dividend, bringing the 2026 indicative annual rate to $2.68 per share. Duyuru • Feb 03
Public Service Enterprise Group Incorporated to Report Q4, 2025 Results on Feb 26, 2026 Public Service Enterprise Group Incorporated announced that they will report Q4, 2025 results at 12:30 PM, US Eastern Standard Time on Feb 26, 2026 Duyuru • Jan 22
Public Service Enterprise Group Incorporated Appoints Geisha J. Williams as Independent Director, Effective March 1, 2026 Public Service Enterprise Group Incorporated announced that Geisha J. Williams has been elected to its Board of Directors, effective March 1, 2026. Williams has over 35 years of energy industry experience. She served as chief executive officer and president of PG&E Corporation from March 2017 to January 2019, overseeing one of the largest dual electric and gas utilities in the United States. Prior to joining PG&E, Williams worked for over two decades at Florida Power and Light where she held a wide variety of positions culminating in her role as vice president, Power Systems–Distribution. Williams serves as a member of the Supervisory Board for Siemens Energy, an independent director for the Artera Services Board of Directors, chair of the Board of Directors of Osmose Utilities Services, and as an independent director of the Meritage Homes Board of Directors. She holds a Bachelor of Science in industrial engineering from the University of Miami and a Master of Business Administration from Nova Southeastern University. Duyuru • Dec 31
Public Service Enterprise Group Incorporated Announces Leadership Changes PSEG also announced it has named Scott Jennings as the new president and chief operating officer (COO) of PSEG Long Island starting on Jan. 5, 2026. John Latka has been named senior vice president of electric operations at PSEG to support both PSE&G and PSEG Long Island in achieving operational excellence. As PSEG Long Island's new president, Jennings will be responsible for overseeing the operation of the transmission and distribution system on Long Island and in the Rockaways under a five-year extension of the operations services agreement between LIPA and PSEG Long Island. Jennings comes to PSEG Long Island with more than 27 years of experience at PSEG, having served in various leadership roles including his most recent role as senior vice president of Finance, Planning and Strategy at PSEG, where he was responsible for the company's business plans and investments focused on improving reliability and meeting public policy and customer service goals in an affordable manner. Jennings also has extensive experience with PSEG Long Island's structure and operations, including leading the development, diligence, and negotiation of PSEG's arrangement to operate the Long Island electric grid on behalf of the Long Island Power Authority leading up to the establishment of PSEG Long Island in 2014. In addition to his own industry experience, Jennings will draw upon the deep expertise of the teams in electric operations, both on Long Island and in New Jersey, to support the provision of safe, reliable electrical service to approximately 1.2 million customers on Long Island and in the Rockaways. Latka, PSEG's senior vice president of Electric Operations, will partner with Jennings in ensuring PSEG Long Island's operational excellence while also fostering collaboration on best practices across PSEG's utilities in New Jersey and on Long Island. Latka has over 40 years of utility operations experience overseeing the full spectrum of electric infrastructure operations, including system design, construction, maintenance, emergency preparedness, and grid-modernization initiatives. Under Latka's leadership, PSE&G has achieved multiple National ReliabilityOne Awards, including recognition for Outstanding System Resiliency and Metropolitan Service Area Reliability Performance in the Mid-Atlantic Region for the 24th year in a row. Declared Dividend • Dec 08
Third quarter dividend of US$0.63 announced Shareholders will receive a dividend of US$0.63. Ex-date: 10th December 2025 Payment date: 31st December 2025 Dividend yield will be 3.5%, which is lower than the industry average of 4.5%. Sustainability & Growth Dividend is covered by earnings (60% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 4.9% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 17% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Duyuru • Nov 19
Public Service Enterprise Group Incorporated Declares Dividend for the Fourth Quarter of 2025, Payable on or Before December 31, 2025 Public Service Enterprise Group Incorporated Board of Directors declared a $0.63 per share dividend of the outstanding common stock of the company for the fourth quarter of 2025. All dividends for the fourth quarter are payable on or before December 31, 2025, to shareholders of record on December 10, 2025. Reported Earnings • Nov 04
Third quarter 2025 earnings released: EPS: US$1.25 (vs US$1.04 in 3Q 2024) Third quarter 2025 results: EPS: US$1.25 (up from US$1.04 in 3Q 2024). Revenue: US$3.23b (up 22% from 3Q 2024). Net income: US$622.0m (up 20% from 3Q 2024). Profit margin: 19% (in line with 3Q 2024). Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Integrated Utilities industry in Europe. Duyuru • Oct 14
Public Service Enterprise Group Incorporated to Report Q3, 2025 Results on Nov 03, 2025 Public Service Enterprise Group Incorporated announced that they will report Q3, 2025 results at 12:30 PM, US Eastern Standard Time on Nov 03, 2025 Duyuru • Jul 04
Public Service Enterprise Group Incorporated to Report Q2, 2024 Results on Jul 30, 2024 Public Service Enterprise Group Incorporated announced that they will report Q2, 2024 results on Jul 30, 2024 Duyuru • Apr 10
Public Service Enterprise Group Incorporated to Report Q1, 2024 Results on Apr 30, 2024 Public Service Enterprise Group Incorporated announced that they will report Q1, 2024 results on Apr 30, 2024 Duyuru • Feb 28
Public Service Enterprise Group Incorporated, Annual General Meeting, Apr 16, 2024 Public Service Enterprise Group Incorporated, Annual General Meeting, Apr 16, 2024, at 13:00 US Eastern Standard Time. Duyuru • Feb 16
Public Service Enterprise Group Incorporated Appoints Ricardo G. Pérez as Member of Governance, Nominating and Sustainability Committee and the Industrial Operations Committee On February 13, 2024, the Board of Directors of Public Service Enterprise Group Incorporated, upon the recommendation of the Governance, Nominating and Sustainability (GNS) Committee, appointed Ricardo G. Pérez to the GNS Committee and the Industrial Operations Committee, effective immediately. Duyuru • Jan 27
Public Service Enterprise Group Incorporated to Report Q4, 2023 Results on Feb 26, 2024 Public Service Enterprise Group Incorporated announced that they will report Q4, 2023 results on Feb 26, 2024 Duyuru • Jan 25
Public Service Enterprise Group Incorporated Elects Ricardo (Ric) G. Pérez to Board of Directors Public Service Enterprise Group Incorporated announced that Ricardo (Ric) G. Pérez has been elected to its Board of Directors, effective January 22, 2024. Pérez's election is part of PSEG's commitment to safe and reliable nuclear energy. A retired energy executive with more than 35 years of industry experience, Pérez held the leadership roles at the Tennessee Valley Authority (TVA) of senior vice president and chief administrative officer and senior vice president, Nuclear Operations Support and Projects from 2013 to 2017. Prior to TVA, Pérez served the Westinghouse Electric Company from 1981 to 2013, including as president and chief operating officer from 2010 to 2013. Demonstrating the Board's and its Governance, Nominating and Sustainability Committee's continued belief in having a balanced mix of Director tenure and experience, Pérez is the second new independent director elected to the PSEG Board of Directors within four months and fifth since the beginning of 2020. Pérez is a member of the University of Florida Nuclear Engineering Advisory Board and an executive member of the Latino Corporate Directors Association. He is the non-executive chair of the board of the Menper Group, a group of Hispanic-owned health products businesses. Pérez holds a bachelor's degree in engineering from the University of Florida and a Master of Science in energy engineering from the University of Pittsburgh. Duyuru • Oct 28
Public Service Enterprise Group Incorporated Announces Resignation of Alfred W. Zollar from the Board of Directors Public Service Enterprise Group Incorporated On October 24, 2023, Alfred W. Zollar notified Public Service Enterprise Group Incorporated (PSEG) that he was resigning from the Board of Directors of PSEG, of which he had been a member since June 2012, and the Board of Directors of Public Service Electric and Gas Company (PSE&G), each effective immediately. Mr. Zollar’s resignation is not the result of any disagreement with PSEG or PSE&G on any matter related to its or their operations, policies or practices. Duyuru • Sep 27
Public Service Enterprise Group Incorporated to Report Q3, 2023 Results on Oct 31, 2023 Public Service Enterprise Group Incorporated announced that they will report Q3, 2023 results on Oct 31, 2023 Duyuru • Sep 22
Public Service Enterprise Group Incorporated Announces Election of Kenneth Y. Tanji to its Board of Directors Public Service Enterprise Group Incorporated announced that Kenneth Y. Tanji has been elected to its Board of Directors, effective September 20, 2023. He also will serve on the audit and finance committees. Tanji has served as executive vice president and chief financial officer of Prudential Financial Inc. since December 2018, overseeing global financial management matters including financial reporting, investor relations, treasury, tax, corporate development, and actuarial. He joined Prudential in 1988 and has held various leadership positions including senior vice president and treasurer, chief financial officer of Prudential's International businesses, and senior financial officer of Prudential Annuities. Tanji serves as trustee and treasurer for the New Jersey Institute for Social Justice. He holds a bachelor's degree in economics from Yale University and an MBA in finance from the University of Minnesota. Duyuru • Aug 11
Harbert Infrastructure Fund VI, LP managed by Harbert Power, LLC acquired 50% stake in Kalaeloa Partners, L.P. from Public Service Enterprise Group Incorporated (NYSE:PEG). Harbert Infrastructure Fund VI, LP managed by Harbert Power, LLC acquired 50% stake in Kalaeloa Partners, L.P. from Public Service Enterprise Group Incorporated (NYSE:PEG) on August 10, 2023.
Harbert Infrastructure Fund VI, LP managed by Harbert Power, LLC completed the acquisition of 50% stake in Kalaeloa Partners, L.P. from Public Service Enterprise Group Incorporated (NYSE:PEG) on August 10, 2023. Duyuru • Jul 04
Public Service Enterprise Group Incorporated to Report Q2, 2023 Results on Aug 01, 2023 Public Service Enterprise Group Incorporated announced that they will report Q2, 2023 results on Aug 01, 2023 Duyuru • Jun 02
Orsted North America Inc. acquired 25% stake in Ocean Wind project in New Jersey of Orsted North America from Public Service Enterprise Group Incorporated Orsted North America Inc. signed an agreement to acquire remaining 25% stake in Ocean Wind project in New Jersey of Orsted North America from Public Service Enterprise Group Incorporated on January 18, 2023. The acquisition provides Ørsted with 100 % ownership of Ocean Wind 1. The first power from Ocean Wind 1 is scheduled for the end of 2024, and full commissioning is expected in 2025. PSEG will support onshore infrastructure construction. The transaction is expected to close in the first half of 2023, pending the required closing conditions.
Orsted North America Inc. completed the acquisition of 25% stake in Ocean Wind project in New Jersey of Orsted North America from Public Service Enterprise Group Incorporated on May 31, 2023. Orsted North America Inc. now owns 100% of New Jersey's first offshore wind farm. PSEG has also entered into a limited Transition Services Agreement with Orsted North America Inc. to provide Ocean Wind 1 with construction management and environmental permitting services for the onshore substations and transmission cable installation scope of the project. Duyuru • Feb 15
Public Service Enterprise Group Declares Quarterly Common Stock Dividend for the First Quarter of 2023, Payable on March 31, 2023 The Board of Directors of Public Service Enterprise Group declared a $0.57 per share quarterly common stock dividend for the first quarter of 2023, payable on March 31, 2023 to shareholders of record on March 10, 2023. This action represents a $0.03 per share, or 5.6% increase, in the company's quarterly common stock dividend and brings the 2023 indicative annual rate to $2.28 per share. Duyuru • Jan 20
Orsted North America Inc. signed an agreement to acquire remaining 25% stake in Ocean Wind project in New Jersey of Orsted North America from Public Service Enterprise Group Incorporated. Orsted North America Inc. signed an agreement to acquire remaining 25% stake in Ocean Wind project in New Jersey of Orsted North America from Public Service Enterprise Group Incorporated on January 18, 2023. The acquisition provides Ørsted with 100 % ownership of Ocean Wind 1. The first power from Ocean Wind 1 is scheduled for the end of 2024, and full commissioning is expected in 2025. PSEG will support onshore infrastructure construction. The transaction is expected to close in the first half of 2023, pending the required closing conditions. Duyuru • Nov 15
Public Service Enterprise Group Incorporated Declares Regular Quarterly Dividend for Fourth Quarter of 2022, Payable on or Before December 30, 2022 Board of Directors of Public Service Enterprise Group declared a $0.54 per share dividend on the outstanding common stock of the company for the fourth quarter of 2022. All dividends for the fourth quarter are payable on or before December 30, 2022, to shareholders of record on December 9, 2022. Duyuru • Nov 01
Public Service Enterprise Group Incorporated Revises Earnings Guidance for the Fiscal Year 2022 Public Service Enterprise Group Incorporated revised earnings guidance for the fiscal year 2022. For the period, Net Income is narrowed to $1,545 million to $1,575 million (from $1,510 million to $1,560 million), reflecting strong transmission and distribution margin growth. Reported Earnings • Aug 03
Second quarter 2022 earnings released: EPS: US$0.26 (vs US$0.35 loss in 2Q 2021) Second quarter 2022 results: EPS: US$0.26 (up from US$0.35 loss in 2Q 2021). Revenue: US$2.08b (up 11% from 2Q 2021). Net income: US$131.0m (up US$308.0m from 2Q 2021). Profit margin: 6.3% (up from net loss in 2Q 2021). Over the next year, revenue is forecast to grow 4.5%, compared to a 6.2% growth forecast for the industry in Germany. Duyuru • Aug 03
Public Service Enterprise Group Incorporated Provides Earnings Guidance for the Fiscal Year 2022 Public Service Enterprise Group Incorporated provided earnings guidance for the fiscal year 2022. For the period, the company expects PSE&G's net income is unchanged at $1,510 million - $1,560 million. Upcoming Dividend • Jun 01
Upcoming dividend of US$0.54 per share Eligible shareholders must have bought the stock before 08 June 2022. Payment date: 30 June 2022. The company is not currently making a profit and is not cash flow positive. Trailing yield: 3.2%. Lower than top quartile of German dividend payers (4.2%). Lower than average of industry peers (4.8%). Duyuru • May 04
Public Service Enterprise Group Incorporated Reaffirms Earning Guidance for 2022 Public Service Enterprise Group Incorporated reaffirmed earning guidance for 2022. Net Income for 2022 is unchanged at $1,510 million - $1,560 million. Reported Earnings • May 03
First quarter 2022 earnings released: US$0.004 loss per share (vs US$1.29 profit in 1Q 2021) First quarter 2022 results: US$0.004 loss per share (down from US$1.29 profit in 1Q 2021). Revenue: US$2.31b (down 20% from 1Q 2021). Net loss: US$2.00m (down 100% from profit in 1Q 2021). Over the next year, revenue is forecast to grow 1.3%, compared to a 1.0% growth forecast for the industry in Germany. Upcoming Dividend • Mar 02
Upcoming dividend of US$0.54 per share Eligible shareholders must have bought the stock before 09 March 2022. Payment date: 31 March 2022. The company is not currently making a profit and is not cash flow positive. Trailing yield: 3.4%. Within top quartile of German dividend payers (3.4%). In line with average of industry peers (3.1%). Reported Earnings • Feb 25
Full year 2021 earnings: EPS in line with expectations, revenues disappoint Full year 2021 results: US$1.29 loss per share (down from US$3.78 profit in FY 2020). Revenue: US$9.72b (up 1.2% from FY 2020). Net loss: US$648.0m (down 134% from profit in FY 2020). Revenue missed analyst estimates by 1.8%. Over the next year, revenue is forecast to grow 2.9%, compared to a 2.6% growth forecast for the industry in Germany. Duyuru • Feb 25
Generation Bridge II, LLC acquired 1.9 GW Power Generating Portfolio from Public Service Enterprise Group Incorporated (NYSE:PEG). Generation Bridge II, LLC acquired 1.9 GW Power Generating Portfolio from Public Service Enterprise Group Incorporated (NYSE:PEG) on February 23, 2022. Latham & Watkins LLP served as primary legal counsel to ArcLight. Credit Suisse served as exclusive financial advisor.
Generation Bridge II, LLC completed the acquisition of 1.9 GW Power Generating Portfolio from Public Service Enterprise Group Incorporated (NYSE:PEG) on February 23, 2022. Duyuru • Feb 16
Public Service Enterprise Group Incorporated Declares Quarterly Common Stock Dividend for the First Quarter of 2022, Payable on March 31, 2022 The Board of Directors of Public Service Enterprise Group declared a quarterly common stock dividend for the first quarter of 2022 of $0.54 per share payable on March 31, 2022 to shareholders of record on March 10, 2022. Duyuru • Feb 03
Public Service Enterprise Group Incorporated to Report Q4, 2021 Results on Feb 24, 2022 Public Service Enterprise Group Incorporated announced that they will report Q4, 2021 results at 7:30 AM, US Eastern Standard Time on Feb 24, 2022 Upcoming Dividend • Dec 01
Upcoming dividend of US$0.51 per share Eligible shareholders must have bought the stock before 08 December 2021. Payment date: 31 December 2021. Trailing yield: 3.3%. Within top quartile of German dividend payers (3.3%). In line with average of industry peers (3.3%). Reported Earnings • Nov 04
Third quarter 2021 earnings released: US$3.10 loss per share (vs US$1.14 profit in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and control over costs. Third quarter 2021 results: Revenue: US$1.90b (down 20% from 3Q 2020). Net loss: US$1.56b (down 372% from profit in 3Q 2020). Duyuru • Sep 29
Public Service Enterprise Group Incorporated (NYSE:PEG) announces an Equity Buyback for $500 million worth of its shares. Public Service Enterprise Group Incorporated (NYSE:PEG) announces a share repurchase program. Under the program, the company will repurchase up to $500 million worth of its common stock. The program is expected to be implemented upon the close of the Fossil sale. Upcoming Dividend • Aug 31
Upcoming dividend of US$0.51 per share Eligible shareholders must have bought the stock before 07 September 2021. Payment date: 30 September 2021. Trailing yield: 3.2%. Within top quartile of German dividend payers (3.1%). In line with average of industry peers (3.3%). Duyuru • Aug 14
Arclight Energy Partners Fund VII, L.P., a fund managed by ArcLight Capital Partners, LLC, agreed to acquire 6,750-Megawatt Fossil Generating Portfolio of Public Service Enterprise Group Incorporated (NYSE:PEG) for $1.9 billion. Arclight Energy Partners Fund VII, L.P., a fund managed by ArcLight Capital Partners, LLC, agreed to acquire 6,750-Megawatt Fossil Generating Portfolio of Public Service Enterprise Group Incorporated (NYSE:PEG) for $1.9 billion on August 12, 2021. The consideration is subject to customary adjustments. The transaction is subject to the expiration or early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (as amended); approval by the Federal Energy Regulatory Commission and certain state regulatory bodies; and other customary closing conditions. The transaction is expected to be completed late in the fourth quarter of 2021 or the first quarter of 2022. Goldman Sachs & Co. is serving as financial adviser, and Wachtell, Lipton, Rosen & Katz is serving as legal counsel, to PSEG in connection with the transaction. Latham & Watkins LLP is serving as primary legal counsel to ArcLight. Latham & Watkins LLP represents ArcLight in the transaction with a corporate deal team led by David Allinson and Jane Greyf. Chirag Dedania and Warren Lilien advised on project development and finance matters. Reported Earnings • Aug 05
Second quarter 2021 earnings released: US$0.35 loss per share (vs US$0.90 profit in 2Q 2020) The company reported a poor second quarter result with weaker earnings, revenues and control over costs. Second quarter 2021 results: Revenue: US$1.87b (down 8.6% from 2Q 2020). Net loss: US$177.0m (down 139% from profit in 2Q 2020). Executive Departure • Jul 01
President of Public Service Electric & Gas Company David Daly has left the company On the 30th of June, David Daly's tenure as President of Public Service Electric & Gas Company ended after 3.7 years in the role. As of March 2021, David still personally held 65.03k shares (€3.3m worth at the time). David is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 3.21 years. Duyuru • Jun 30
LS Power affiliate Quattro Solar, LLC. acquired 25 Solar Power Facilities in US from Public Service Enterprise Group Incorporated (NYSE:PEG). LS Power affiliate Quattro Solar, LLC. acquired 25 Solar Power Facilities in US from Public Service Enterprise Group Incorporated (NYSE:PEG) on June 29, 2021.
LS Power affiliate Quattro Solar, LLC. completed the acquisition of 25 Solar Power Facilities in US from Public Service Enterprise Group Incorporated (NYSE:PEG) on June 29, 2021. Duyuru • Jun 28
Public Service Enterprise Group Incorporated(NYSE:PEG) dropped from Russell 1000 Dynamic Index Public Service Enterprise Group Incorporated(NYSE:PEG) dropped from Russell 1000 Dynamic Index Upcoming Dividend • Jun 01
Upcoming dividend of US$0.51 per share Eligible shareholders must have bought the stock before 07 June 2021. Payment date: 30 June 2021. Trailing yield: 3.3%. Within top quartile of German dividend payers (3.2%). In line with average of industry peers (3.6%). Reported Earnings • May 06
First quarter 2021 earnings released: EPS US$1.28 (vs US$0.89 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: US$2.89b (up 3.9% from 1Q 2020). Net income: US$648.0m (up 45% from 1Q 2020). Profit margin: 22% (up from 16% in 1Q 2020). Duyuru • Mar 16
Public Service Enterprise Group Incorporated, Annual General Meeting, Apr 20, 2021 Public Service Enterprise Group Incorporated, Annual General Meeting, Apr 20, 2021, at 13:00 US Eastern Standard Time. Agenda: To elect ten members of the Board of Directors (Board) to hold office until the Annual Meeting of Stockholders in 2022, or until each director’s respective successor is elected and qualified; to approve on an advisory basis, executive compensation; to ratify the appointment of Deloitte & Touche LLP (Deloitte) as independent auditor for 2021; to approve the 2021 Equity Compensation Plan for Outside Directors; to approve the 2021 Long-Term Incentive Plan; and to transact any other business that is properly presented at the meeting. Upcoming Dividend • Mar 01
Upcoming Dividend of US$0.51 Per Share Will be paid on the 31st of March to those who are registered shareholders by the 8th of March. The trailing yield of 3.8% is in the top quartile of German dividend payers (3.4%), and it is in line with industry peers (3.7%). Reported Earnings • Feb 27
Full year 2020 earnings released: EPS US$3.76 (vs US$3.36 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: US$9.60b (down 4.7% from FY 2019). Net income: US$1.91b (up 13% from FY 2019). Profit margin: 20% (up from 17% in FY 2019). The increase in margin was driven by lower expenses. Analyst Estimate Surprise Post Earnings • Feb 27
Revenue misses expectations Revenue missed analyst estimates by 5.2%. Over the next year, revenue is forecast to grow 10.0%, compared to a 6.9% growth forecast for the Integrated Utilities industry in Germany. 
