FirstEnergy Corp's (FE) Q4 2024 earnings delivered mixed results, with revenues increasing year-on-year but overall earnings missing estimated targets. The company had seen
strong core earnings growth and had forged partnerships to co-develop
regional transmission projects with Dominion Energy, American Electric Power, amongst others.
FirstEnergy reported an EPS of $0.45, falling short of forecasts and revenues of $3.2 billion also missed estimates. However, it achieved a hefty $1.25B grid expansion deal, improving the eastern power reliability.
UBS adjusted FirstEnergy's price target from $46 to $43, maintaining a neutral rating. Various utility grid advancements and infrastructure upgrades were also reported alongside some community-driven initiatives and a smart grid grant was prized by U.S. Department of Energy.
The company declared an unchanged common stock dividend of $0.425 per share. With 85% of shares owned by institutional owners, FirstEnergy's performance remained enticing despite some analysts downgrading following the earnings miss. This mixed picture, however, presents both achievements and challenges in FE's strategic landscape.
Firstenergy Corp FE News Analytics from Tue, 02 Apr 2024 07:00:00 GMT to Fri, 28 Feb 2025 14:33:00 GMT -
Rating -2
- Innovation 4
- Information 6
- Rumor 1
