AKRON, Ohio (AP) — AKRON, Ohio (AP) — FirstEnergy Corp. (FE) on Tuesday reported a loss of $49 million in its fourth quarter.
The Akron, Ohio-based company said it had a loss of 8 cents per share. Earnings, adjusted for non-recurring costs, came to 53 cents per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 52 cents per share.
The utility company posted revenue of $3.8 billion in the period, also topping Street forecasts. Five analysts surveyed by Zacks expected $3.25 billion.
For the year, the company reported profit of $1.02 billion, or $1.76 per share. Revenue was reported as $15.09 billion.
FirstEnergy expects full-year earnings in the range of $2.62 to $2.82 per share.
_____
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
/AI%20(artificial%20intelligence)/AI%20microchip%20by%20DesignKingBD360%20via%20Shutterstock.jpg)
/2d%20illustration%20of%20Cloud%20computing%20by%20Blackboard%20via%20Shutterstock.jpg)
/Nvidia%20logo%20and%20sign%20on%20headquarters%20by%20Michael%20Vi%20via%20Shutterstock.jpg)
