FirstEnergy (FE) shares tumbled 9.67% in Thursday's intraday trading after the company reported disappointing fourth-quarter 2024 earnings and provided a lower-than-expected profit forecast for 2025.
In its Q4 2024 earnings report, FirstEnergy posted operating earnings of $0.67 per share, missing the Zacks Consensus Estimate of $0.70 by 4.3%. While earnings increased 8.1% year-over-year, operating revenues of $3.18 billion also fell short of analyst expectations.
Adding to the disappointment, FirstEnergy projected its 2025 earnings per share guidance in the range of $2.40-$2.60, which trails the Zacks Consensus Estimate of $2.89. The company cited plans to address issues around an Ohio rate case audit within the next 30 days, potentially weighing on the stock.
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