logo
Plus   Neg
Share
Email

FirstEnergy Reaffirms FY20 Adj. EPS Outlook - Quick Facts

While reporting financial results for the fourth quarter on Friday, electric utility FirstEnergy Corp. (FE) reaffirmed its operating earnings guidance for the full-year 2020, and provided earnings outlook for the first quarter of fiscal 2020.

For fiscal 2019, the company continues to project operating earnings in a range of $2.40 to $2.60 per share.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $2.49 per share for the year. Analysts' estimates typically exclude special items.

For the first quarter, the company is expecting reported results between a loss of $0.14 per share and earnings of $0.70 per share. It also projects operating earnings in a range of $0.60 to $0.70 per share, while the Street is looking for earnings of $0.63 per share.

FirstEnergy also said it is affirming its long-term growth rate projections and remains on track to achieve 6 to 8 percent compound annual operating earnings growth (CAGR) from 2018 to 2021, as well as its extended CAGR of 5 to 7 percent through 2023.

That projection includes plans to issue up to $600 million of equity annually starting in 2022 to fund the company's regulated growth initiatives.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Hyundai Motor has launched a new IONIQ brand dedicated to battery electric vehicles, as the automaker is accelerating its efforts to gain a share in the fast-growing global EV market. Under the IONIQ brand, Hyundai plans to introduce three new dedicated electric vehicle models over the next four years. Hyundai is South Korea's largest automaker. Amazon.com, Inc. is in talks with mall operator Simon Property Group, Inc. to use the abandoned anchor departmental stores of JC Penny and Sears at their malls as fulfillment centers, reports said. This is expected to help the e-commerce giant in boosting their last mile delivery, which is the last leg of the delivery process. The U.S. Food and Drug Administration announced the approval of Trevena Inc.'s Olinvyk (oliceridine), a new opioid for intravenous use in hospitals or other controlled clinical settings. Olinvyk is an opioid agonist to manage moderate to severe acute pain in adults, where the pain is severe enough to require an intravenous opioid and for whom alternative treatments are inadequate.
Follow RTT