FirstEnergy Corp. Q2 Profit Drops, Inline With Estimates

(RTTNews) - FirstEnergy Corp. (FE) announced a profit for second quarter that decreased from last year in line with the Street estimates.

The company's earnings came in at $45 million, or $0.08 per share. This compares with $235 million, or $0.41 per share, in last year's second quarter.

Excluding items, FirstEnergy Corp. reported adjusted earnings of $0.56 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.

FirstEnergy Corp. earnings at a glance (GAAP) :

-Earnings (Q2): $45 Mln. vs. $235 Mln. last year. -EPS (Q2): $0.08 vs. $0.41 last year.

-Guidance: Next quarter EPS guidance: $2.61 to $2.81