FirstEnergy Reports Q4 Loss
FirstEnergy has reported its Q4 and 2012 results, showing that for the quarter, the company brought in revenue of $3.5 billion, a decline from the $3.9 billion in the same period the previous year. The GAAP bottom line swung to a loss of $148 million ($0.35 per diluted share), against a $99 million ($0.23) profit in Q4 2011.
The annual figures also saw declines. Revenue for fiscal 2012 was just under $8.9 billion, a 9% year-over-year drop from 2011's $9.7 billion. Net profit slipped by 11% over that same time frame to land at $771 million ($1.84 diluted EPS), from the previous year's $885 million ($2.21). Those EPS figures on a non-GAAP, non-diluted basis were $3.64 and $3.34, respectively.
For fiscal 2013, the company reaffirmed its non-GAAP EPS guidance of $2.85-$3.15 per share.
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