AKRON, Ohio (AP) — AKRON, Ohio (AP) — FirstEnergy Corp. (FE) on Monday reported a fourth-quarter loss of $403 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Akron, Ohio-based company said it had a loss of 71 cents. Earnings, adjusted for non-recurring costs, were 50 cents per share.
The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 53 cents per share.
The utility company posted revenue of $3.18 billion in the period.
For the year, the company reported profit of $406 million, or 71 cents per share. Revenue was reported as $12.46 billion.
FirstEnergy expects full-year earnings to be $2.44 to $2.64 per share.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FE at https://www.zacks.com/ap/FE
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