FirstEnergy Corp. (NYSE: FE) experienced a significant sell-off in the after-hours trading session on Wednesday, with its stock plunging 5.44%. This sharp decline was likely driven by the company's disappointing fourth-quarter earnings results.
According to the earnings report, FirstEnergy reported adjusted earnings per share of $0.61 for the fourth quarter of 2024, missing analysts' consensus estimate of $0.70 by a substantial margin of 12.86%. The missed earnings expectations could have raised concerns among investors about the company's financial performance and future growth prospects.
While the specific reasons behind the earnings miss were not provided in the news articles, investors may have reacted negatively to any underlying factors that contributed to the weaker-than-expected results, such as higher costs, lower revenues, or operational challenges.
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