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FirstEnergy reports 4Q loss

AKRON, Ohio (AP) _ FirstEnergy Corp. (FE) on Tuesday reported a loss of $5.8 billion in its fourth quarter.

On a per-share basis, the Akron, Ohio-based company said it had a loss of $13.44. Earnings, adjusted for non-recurring costs, were 38 cents per share.

The results missed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 39 cents per share.

The utility company posted revenue of $3.38 billion in the period.

For the year, the company reported a loss of $6.18 billion, or $14.50 per share, swinging to a loss in the period. Revenue was reported as $14.56 billion.

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

FirstEnergy shares have increased 1 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed nearly 6 percent. In the final minutes of trading on Tuesday, shares hit $31.33, a drop of roughly 8 percent in the last 12 months.


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


Keywords: FirstEnergy, Earnings Report