Diversified energy company Public Service Enterprise announced that its profits spiked to $956 million in the fourth quarter of 2017, primarily due to $646 million in income tax benefit. Excluding one-time benefits, earnings improved 5.6% to $0.57 per share vs the prior year period. The company’s revenue remained flat at $2.1 billion.
The utility provider has increased its annual dividends for 2018 by 5% to $1.80 per share.
For 2018, Public Service Enterprise expects its adjusted EPS to be between $3.00 and $3.20 and operating earnings in the range of $1.52 billion and $1.62 billion.