U.S. Markets closed

FirstEnergy (FE) Q1 Earnings Miss by a Cent, Revenues Lag

Zacks Equity Research
1 / 2

Earnings Estimates Moving Higher for Vanda (VNDA): Time to Buy?

Vanda (VNDA) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions.

Have you been eager to see how FirstEnergy Corporation FE performed in the first quarter in comparison with the market expectations? Let’s quickly scan through the key facts from this Arkon, OH-based utilities earnings release this morning

Earnings Miss

FirstEnergy, a Zacks # (3) Hold stock, reported adjusted earnings per share of 67 cents per share, lagging the Zacks Consensus Estimate of 68 cents by a penny. However, earnings improved 28.9% year over year. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Revenues Lag

FirstEnergy generated total revenues of $2.97 billion, increased 4.3% year over year. However, the total revenues lagged the Zacks Consensus Estimate of $3.26 billion by 9.6%.

FirstEnergy Corporation Price and EPS Surprise

FirstEnergy Corporation Price and EPS Surprise | FirstEnergy Corporation Quote

How Was the Estimate Revision Trend?

You should note that the Zacks Consensus Estimate for FirstEnergy Corporation dropped 2.9%  in the last 7 days prior to the earnings release. Nonetheless, FirstEnergy Corporation has a solid earnings surprise history. The company surpassed the Zacks Consensus Estimate in the last four quarters with an average beat of 6.04%.

Key Stats to Note

Electric Distribution Deliveries to Residential, Commercial and Industrial customers increased 8.1%, 3.6% and 2.8% year over year respectively.

Check back later for our full write up on this FE earnings report later!

Today's Stocks from Zacks' Hottest Strategies

It's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6%, and +67.1%.

And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.

See Them Free>>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
FirstEnergy Corporation (FE) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research