FirstEnergy: Q4 Earnings Snapshot

Associated Press Finance
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AKRON, Ohio (AP) — AKRON, Ohio (AP) — FirstEnergy Corp. (FE) on Thursday reported fourth-quarter earnings of $175 million.

The Akron, Ohio-based company said it had profit of 30 cents per share. Earnings, adjusted for non-recurring costs, were 62 cents per share.

The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 60 cents per share.

The utility company posted revenue of $3.15 billion in the period, which did not meet Street forecasts. Four analysts surveyed by Zacks expected $3.29 billion.

For the year, the company reported profit of $1.12 billion, or $1.96 per share. Revenue was reported as $12.87 billion.

FirstEnergy expects full-year earnings in the range of $2.61 to $2.81 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

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