FirstEnergy Corp. Q3 Profit Decreases, but beats estimates

(RTTNews) - FirstEnergy Corp. (FE) revealed earnings for third quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line totaled $334 million, or $0.58 per share. This compares with $463 million, or $0.85 per share, in last year's third quarter.

Excluding items, FirstEnergy Corp. reported adjusted earnings of $0.79 per share for the period.

Analysts on average had expected the company to earn $0.78 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 11.5% to $3.48 billion from $3.12 billion last year.

FirstEnergy Corp. earnings at a glance (GAAP) :

-Earnings (Q3): $334 Mln. vs. $463 Mln. last year. -EPS (Q3): $0.58 vs. $0.85 last year. -Analyst Estimates: $0.78 -Revenue (Q3): $3.48 Bln vs. $3.12 Bln last year.

-Guidance: Full year EPS guidance: $2.30 - $2.50