FirstEnergy Affirms FY20 Adj. EPS Outlook - Quick Facts

(RTTNews) - While reporting financial results for the third quarter on Monday, electric utility FirstEnergy Corp. (FE) affirmed its operating earnings guidance for the full-year 2020.

For fiscal 2020, the company continues to project operating earnings in a range of $2.40 to $2.60 per share.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $2.50 per share for the year. Analysts' estimates typically exclude special items.

FirstEnergy also said it is affirming its long-term growth rate projections and remains on track to achieve 6 to 8 percent compound annual operating earnings growth (CAGR) from 2018 to 2021, as well as its extended CAGR of 5 to 7 percent 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.