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Here's What Key Metrics Tell Us About FirstEnergy (FE) Q1 Earnings

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FirstEnergy (FE - Free Report) reported $3.29 billion in revenue for the quarter ended March 2024, representing a year-over-year increase of 1.7%. EPS of $0.55 for the same period compares to $0.60 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $3.36 billion, representing a surprise of -2.04%. The company delivered an EPS surprise of +3.77%, with the consensus EPS estimate being $0.53.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how FirstEnergy performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Total Electric Distribution Deliveries - Actual: 36,626 MWh compared to the 37,784.84 MWh average estimate based on three analysts.
  • Total External Revenues: $3.29 billion compared to the $3.46 billion average estimate based on three analysts.
  • Revenue by Operation- Total Corporate/Other & Reconciling Adjustments: -$13 million versus the two-analyst average estimate of -$54.64 million.
View all Key Company Metrics for FirstEnergy here>>>

Shares of FirstEnergy have returned -0.4% over the past month versus the Zacks S&P 500 composite's -3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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