FirstEnergy Corp. Q1 Profit Increases, but misses estimates

(RTTNews) - FirstEnergy Corp. (FE) announced earnings for its first quarter that increased from last year but missed the Street estimates.

The company's bottom line totaled $292 million, or $0.51 per share. This compares with $288 million, or $0.50 per share, in last year's first quarter.

Excluding items, FirstEnergy Corp. reported adjusted earnings of $0.60 per share for the period.

Analysts on average had expected the company to earn $0.61 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 6.7% to $3.2 billion from $3.0 billion last year.

FirstEnergy Corp. earnings at a glance (GAAP) :

-Earnings (Q1): $292 Mln. vs. $288 Mln. last year. -EPS (Q1): $0.51 vs. $0.50 last year. -Analyst Estimate: $0.61 -Revenue (Q1): $3.2 Bln vs. $3.0 Bln last year.

-Guidance: Next quarter EPS guidance: $0.40-$0.50 Full year EPS guidance: $2.44-$2.64