FirstEnergy (FE) Tops Q2 EPS by 2c; Issues Light Q3 Outlook

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Go back to FirstEnergy (FE) Tops Q2 EPS by 2c; Issues Light Q3 Outlook

FirstEnergy Announces Second Quarter 2016 Results, Provides Third Quarter and Full-Year 2016 Guidance

July 28, 2016 4:30 PM EDT

AKRON, Ohio, July 28, 2016 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) today reported a second quarter 2016 GAAP loss of $1.1 billion, or $(2.56) per basic and diluted share of common stock, on revenue of $3.4 billion.  The loss resulted from asset impairment and plant exit costs in the company's competitive business.  Operating (non-GAAP) earnings* were $0.56 per basic share of common stock.  Operating (non-GAAP) earnings exclude the effect of special items listed below.

These results compare to second quarter 2015 net income of $187 million, or $0.44 per basic and diluted share of common stock, on revenue of $3.5 billion.  Second quarter... More