FirstEnergy Q2 2020 Earnings Report
Key Takeaways
FirstEnergy reported second quarter 2020 GAAP earnings of $309 million, or $0.57 per share, on revenue of $2.5 billion. The company affirmed its full-year 2020 GAAP earnings forecast and operating (non-GAAP) guidance, as well as its long-term growth rate projections.
Second quarter GAAP earnings were $309 million, or $0.57 per share.
Revenue remained stable at $2.5 billion compared to the same quarter last year.
The company is cooperating with the Department of Justice investigation involving the Ohio Speaker of the House.
Full-year 2020 GAAP earnings forecast and operating (non-GAAP) guidance were affirmed.
FirstEnergy
FirstEnergy
Forward Guidance
For the third quarter of 2020, FirstEnergy is providing a GAAP and operating (non-GAAP) forecast range of $395 million to $450 million, or $0.73 to $0.83 per share based on 542 million shares outstanding. The company is affirming its full-year 2020 GAAP earnings forecast range of $1.02 billion to $1.13 billion, or $1.88 to $2.08 per share, based on 542 million shares, as well as its full-year operating (non-GAAP) guidance of $2.40 to $2.60 per share.