FirstEnergy Corp. Q1 Profit Decreases, misses estimates

(RTTNews) - FirstEnergy Corp. (FE) revealed earnings for first quarter that decreased from the same period last year and missed the Street estimates.

The company's bottom line came in at $288 million, or $0.51 per share. This compares with $335 million, or $0.62 per share, in last year's first quarter.

Excluding items, FirstEnergy Corp. reported adjusted earnings of $0.60 per share for the period.

Analysts on average had expected the company to earn $0.61 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 11.1% to $3.0 billion from $2.7 billion last year.

FirstEnergy Corp. earnings at a glance (GAAP) :

-Earnings (Q1): $288 Mln. vs. $335 Mln. last year. -EPS (Q1): $0.51 vs. $0.62 last year. -Analyst Estimates: $0.61 -Revenue (Q1): $3.0 Bln vs. $2.7 Bln last year.

-Guidance: Next quarter EPS guidance: Adj: $0.46 – $0.56 Full year EPS guidance: Adj: $2.30 – $2.50