new jersey utility operator public service enterprise group swung to a firstquarter loss as the impact of the sale of a fossilfuel power generation unit and marktomarket adjustments offset higher revenue at its utility the owner of pseg as the utility is known and powergeneration assets posted a firstquarter loss of 2 million or less than 1 cents a share in contrast to a profit of 648 million or 128 a share a year earlier excluding certain items public service enterprise group had adjusted earnings of 672 million or 133 a share operating revenue fell to 231 billion from 289 billion a year earlier revenue at the companys pseg utility rose to 228 billion from 207 billion a year earlier our nongaap results for the first quarter reflect solid utility and nuclear operations and rate base growth from regulated investments as well as lower cost resulting from the completed sale of pseg fossil that will benefit firsthalf 2022 comparisons said chairman president and chief executive ralph izzo in april public service enterprise group said mr izzo would retire to be replaced as president and chief executive on sept 1 by chief operating officer ralph larossa the company reiterated its projection for 2022 nongaap operating earnings in a range of 335to355 a share