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What Drove FirstEnergy’s Third-Quarter Earnings?

Vincent Kruger
What Drove FirstEnergy’s Third-Quarter Earnings?

Recently, FirstEnergy (FE) transformed to a pure-play regulated utility. The company reported its third-quarter results on October 25 after the markets closed. FirstEnergy reported an EPS of $0.80 for the quarter ending on September 30 and beat analysts’ estimates by $0.09. During the same period last year, the company reported an EPS of $0.97. However, the earnings during these two periods might not be comparable. FirstEnergy’s competitive subsidiaries declared bankruptcy and were deconsolidated on March 31.