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FirstEnergy beats 1Q profit forecasts

AKRON, Ohio (AP) _ FirstEnergy Corp. (FE) on Thursday reported first-quarter net income of $205 million.

On a per-share basis, the Akron, Ohio-based company said it had net income of 46 cents. Earnings, adjusted for non-recurring costs, came to 78 cents per share.

The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 71 cents per share.

The utility company posted revenue of $3.55 billion in the period.

FirstEnergy expects full-year earnings in the range of $2.70 to $3 per share.

FirstEnergy shares have dropped 1.5 percent since the beginning of the year, while the Standard & Poor's 500 index has increased nearly 7 percent. In the final minutes of trading on Thursday, shares hit $30.52, a decrease of 15 percent in the last 12 months.

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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

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Keywords: FirstEnergy, Earnings Report