FirstEnergy (NYSE: FE) reported Q2 EPS of $0.57, $0.03 better than the analyst estimate of $0.54. Revenue for the quarter came in at $2.5 billion versus the consensus estimate of $2.54 billion.

GUIDANCE:

FirstEnergy sees Q3 2020 EPS of $0.73-$0.83, versus the consensus of $0.76.

• For the third quarter of 2020, FirstEnergy is providing a GAAP and operating (non-GAAP) forecast range of $395 million to $450 million, or $0.73 to $0.83 per share based on 542 million shares outstanding.

FirstEnergy sees FY2020 EPS of $2.40-$2.60, versus the consensus of $2.48.

• The company is affirming its full-year 2020 GAAP earnings forecast range of $1.02 billion to $1.13 billion, or $1.88 to $2.08 per share, based on 542 million shares, as well as its full-year operating (non-GAAP) guidance of $2.40 to $2.60 per share.

FirstEnergy is also affirming its long-term growth rate projections. The company remains on track to achieve 6% to 8% compound annual operating (non-GAAP) earnings growth (CAGR)** from 2018 to 2021, as well as its extended CAGR of 5% to 7% through 2023. That projection includes plans to issue up to $600 million of equity annually starting in 2022 to fund the company's regulated growth initiatives.

For earnings history and earnings-related data on FirstEnergy (FE) click here.