FirstEnergy Q4 2020 Earnings Report
Key Takeaways
FirstEnergy reported GAAP earnings of $242 million for Q4 2020, or $0.45 per share, on revenue of $2.5 billion. Operating (non-GAAP) earnings for the fourth quarter of 2020 were $0.32 per share.
GAAP earnings of $242 million for the fourth quarter of 2020, or $0.45 per basic and diluted share of common stock, on revenue of $2.5 billion.
Operating (non-GAAP) earnings for the fourth quarter of 2020 were $0.32 per share, compared to $0.55 per share in the fourth quarter of 2019.
Total distribution deliveries for the fourth quarter of 2020 decreased 3.1% compared to the fourth quarter of 2019, primarily due to the impact of the pandemic on commercial and industrial sales.
Higher rate base associated with the company’s Energizing the Future transmission investment program drove higher operating results for the fourth quarter of 2020.
FirstEnergy
FirstEnergy
Forward Guidance
FirstEnergy provided a full-year 2021 GAAP and operating (non-GAAP) earnings guidance range of $1,305 million to $1,415 million, or $2.40 to $2.60 per share based on 544 million shares outstanding. For the first quarter of 2021, FirstEnergy expects GAAP and operating (non-GAAP) earnings in the range of $335 million to $390 million, or $0.62 to $0.72 per share.