Investing.com - FirstEnergy (NYSE:FE) reported on Tuesday second quarter earnings that missed analysts' forecasts and revenue that topped expectations.
FirstEnergy announced earnings per share of $0.53 on revenue of $2.8B. Analysts polled by Investing.com anticipated EPS of $0.5325 on revenue of $2.72B.
FirstEnergy shares are down 18% from the beginning of the year, still down 19.98% from its 52 week high of $48.85 set on April 21. They are broadly in line with the S&P 500 which is down 17.73% from the start of the year.
FirstEnergy follows other major Utilities sector earnings this month
FirstEnergy's report follows an earnings beat by NextEra Energy on Friday, who reported EPS of $0.81 on revenue of $5.18B, compared to forecasts EPS of $0.7598 on revenue of $5.35B.
Avangrid Inc had beat expectations on Tuesday with second quarter EPS of $0.46 on revenue of $1.79B, compared to forecast for EPS of $0.3411 on revenue of $1.61B.
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