FirstEnergy (FE) Misses Q4 EPS by 2c, FY17 EPS Guidance Beats Views

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Go back to FirstEnergy (FE) Misses Q4 EPS by 2c, FY17 EPS Guidance Beats Views

FirstEnergy Announces Fourth Quarter and Full Year 2016 Financial Results

February 21, 2017 4:20 PM EST

AKRON, Ohio, Feb. 21, 2017 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) today reported a full-year 2016 GAAP loss of $(6.2) billion, or $(14.49) per basic and diluted share of common stock, on revenue of $14.6 billion.  The loss reflects asset impairment and plant exit costs, including charges related to the company's decision to exit competitive operations by mid-2018 as further discussed below.  In 2015, the company reported GAAP earnings of $578 million, or $1.37 per basic and diluted share of common stock, on revenue of $15.0 billion.

Operating (non-GAAP) earnings* for 2016 were $2.63 per basic share of common stock, which was in line... More