— FirstEnergy Corp. (NYSE: FE) reported adjusted operating earnings of $0.55 per share for the fourth quarter of 2019, vs. $0.50 per share expected.
— On an unadjusted basis, FirstEnergy reported a net loss of $111 million or $0.20 per share, compared to a profit of $128 million or $0.25 per share in the fourth quarter of 2018
— Fourth-quarter revenues came in at $2.7 billion, broadly unchanged from the year-ago period, vs. $2.77 billion expected
— Distribution deliveries dropped 3.2% annually due to mild temperatures and lower commercial and industrial usage
— Residential sales declined 3.1%, reflecting a 7% drop in heating degree days compared to last year
— There was a 4.3% decrease in commercial deliveries; sales to industrial customers dropped 2.4%
— Expects full-year 2020 unadjusted earnings to be between $900 million and $1.41 billion, or $1.66 per share and $2.60 per share, which is unchanged from the prior guidance
— Reaffirms full-year operating earnings guidance in the range of $2.40 per share to $2.60 per share
— For the first quarter, expects the bottom-line to be in the range of a net loss of $75 million to earnings of $380 million (a loss of $0.14 per share to earnings of $0.70 per share), on an unadjusted basis
Most Popular
StubHub Holdings set to enter public markets. Here’s what to expect
After a modest start to the year, the IPO market is witnessing an increase in activity led by technology and healthcare companies. StubHub Holdings, a leading online ticket marketplace for
Can Beyond Meat (BYND) overcome its persistent challenges?
Shares of Beyond Meat, Inc. (NASDAQ: BYND) stayed red on Tuesday. The stock has dropped 19% over the past three months. The plant-based meat company continues to struggle in terms
CarMax (KMX) likely to report strong earnings growth for Q4 2025
After reporting robust earnings growth for the third quarter, CarMax, Inc. (NYSE: KMX) is preparing to publish Q4 results next week. Over the years, the company has fostered customer loyalty
