FirstEnergy nets $268M for quarter
AKRON (AP) — FirstEnergy Corp. on Wednesday reported second-quarter net income of $268 million.
On a per-share basis, the Akron, Ohio-based company said it had net income of 46 cents. Earnings, adjusted for nonrecurring costs, were 52 cents per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 50 cents per share.
The utility company posted revenue of $3.38 billion in the period, which fell short of Street forecasts. Three analysts surveyed by Zacks expected $3.41 billion.
FirstEnergy expects full-year earnings in the range of $2.40 to $2.60 per share.