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

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Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

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!

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