FirstEnergy: Q4 Earnings Snapshot
AKRON, Ohio (AP) — AKRON, Ohio (AP) — FirstEnergy Corp. (FE) on Wednesday reported fourth-quarter net income of $261 million.
On a per-share basis, the Akron, Ohio-based company said it had net income of 45 cents. Earnings, adjusted for non-recurring costs, came to 67 cents per share.
The results fell short of Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 70 cents per share.
The utility company posted revenue of $3.18 billion in the period, also missing Street forecasts. Three analysts surveyed by Zacks expected $3.67 billion.
For the year, the company reported profit of $978 million, or $1.70 per share. Revenue was reported as $13.47 billion.
FirstEnergy expects full-year earnings in the range of $2.40 to $2.60 per share.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FE at https://www.zacks.com/ap/FE
