FirstEnergy Corp. Q1 Profit Decreases, misses estimates

(RTTNews) - FirstEnergy Corp. (FE) released earnings for first quarter that decreased from the same period last year and missed the Street estimates.

The company's earnings totaled $253 million, or $0.44 per share. This compares with $292 million, or $0.51 per share, in last year's first quarter.

Excluding items, FirstEnergy Corp. reported adjusted earnings of $0.55 per share for the period.

Analysts on average had expected the company to earn $0.56 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 3.1% to $3.3 billion from $3.2 billion last year.

FirstEnergy Corp. earnings at a glance (GAAP) :

-Earnings (Q1): $253 Mln. vs. $292 Mln. last year. -EPS (Q1): $0.44 vs. $0.51 last year. -Revenue (Q1): $3.3 Bln vs. $3.2 Bln last year.

-Guidance: Next quarter EPS guidance: $0.50-$0.60