FirstEnergy Corporation's first-quarter 2022 earnings fell short of expectations, posting adjusted operating earnings per share of 60 cents, missing the 62 cents forecast by analysts. This represented a 13% decline from the previous year, even as the company generated $2.99 billion in operating revenues, exceeding the Zacks Consensus estimate of $2.85 billion and marking an 8.7% year-over-year improvement. The rise in expenses, which increased 12.6%, tempered the positive revenue news, leading to a 2.1% drop in the company's stock in extended trading.
“FirstEnergy Corporation · delivered · first-quarter 2022 operating earnings per share · 60 cents”
“FirstEnergy Corporation · missed · Zacks Consensus Estimate · 62 cents”
“FirstEnergy Corporation · declined · year-ago earnings · 13%”
“FirstEnergy · generated · operating revenues · $2,991 million”
“FirstEnergy · had · cash, cash equivalents and restricted cash · $310 million”
“FirstEnergy · provided · second-quarter 2022 earnings guidance · 46-56 cents per share”
“FirstEnergy · plans to invest · in 2022 · $3.3 billion”
“FirstEnergy · expects to invest · in the 2021-2025 period · $17 billion”
“FirstEnergy Corporation · dipped · more than 2.1% · in extended trading”
“FirstEnergy Corporation · reported adjusted operating earnings per share of · 60 cents · missing the 62 cents estimate per Refinitiv”
“FirstEnergy Corporation · reported revenues of · $2.99 billion · versus $2.85 billion expected”
“FirstEnergy Corporation · is slated to release · first-quarter 2022 results · on Apr 21 after the market closes”