FirstEnergy Corp. Q3 Profit Increases, beats estimates

(RTTNews) - FirstEnergy Corp. (FE) released earnings for its third quarter that increased from last year and beat the Street estimates.

The company's bottom line totaled $421 million, or $0.74 per share. This compares with $334 million, or $0.58 per share, in last year's third quarter.

Excluding items, FirstEnergy Corp. reported adjusted earnings of $0.88 per share for the period.

Analysts on average had expected the company to earn $0.86 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

Revenue came in at $3.5 billion, equal to the mark posted in the same period last year.

FirstEnergy Corp. earnings at a glance (GAAP) :

-Earnings (Q3): $421 Mln. vs. $334 Mln. last year. -EPS (Q3): $0.74 vs. $0.58 last year. -Analyst Estimate: $0.86 -Revenue (Q3): $3.5 Bln vs. $3.5 Bln last year.

-Guidance: Next quarter EPS guidance: $0.55 to $0.65 Full year EPS guidance: $2.49 to $2.59