FirstEnergy (NYSE:FE) reported on Thursday first quarter earnings that beat analysts' forecasts and revenue that fell short of expectations.
FirstEnergy announced earnings per share of $0.66 on revenue of $2.7B. Analysts polled by anticipated EPS of $0.64 on revenue of $2.96B. That with comparison to EPS of $0.67 on revenue of $2.9B in the same period a year before. FirstEnergy had reported EPS of $0.55 on revenue of $2.67B in the previous quarter. Analysts are expecting EPS of $0.57 and revenue of $2.64B in the upcoming quarter.
FirstEnergy shares are down 11% from the beginning of the year , still down 18.07% from its 52 week high of $52.52 set on February 18. They are outperforming the S&P 500 which is down 13.77% year to date.
FirstEnergy follows other major Utilities sector earnings this month
FirstEnergy's report follows an earnings beat by NextEra Energy on Wednesday, who reported EPS of $2.38 on revenue of $4.61B, compared to forecasts EPS of $2.16 on revenue of $4.62B.
Kinder Morgan had missed expectations on Wednesday with first quarter EPS of $0.24 on revenue of $3.11B, compared to forecast for EPS of $0.25 on revenue of $3.43B.
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