AKRON, Ohio (AP) — AKRON, Ohio (AP) — FirstEnergy Corp. (FE) on Thursday reported third-quarter earnings of $400 million.
On a per-share basis, the Akron, Ohio-based company said it had profit of 59 cents. Earnings, adjusted for non-recurring costs and to account for discontinued operations, came to 88 cents per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 85 cents per share.
The utility company posted revenue of $3.49 billion in the period, which fell short of Street forecasts. Four analysts surveyed by Zacks expected $3.63 billion.
For the current quarter ending in December, FirstEnergy expects its per-share earnings to range from 55 cents to 65 cents.
The company expects full-year earnings in the range of $2.49 to $2.59 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