FirstEnergy Sees Q3 EPS $0.85-$0.95 Vs $0.89 Est.; FY24 EPS $2.61-$2.81 Vs $2.69 Est.
Portfolio Pulse from Benzinga Newsdesk
FirstEnergy provided Q3 earnings guidance of $0.85-$0.95 per share, slightly above the $0.89 estimate. The company also affirmed its FY24 EPS guidance of $2.61-$2.81 per share, compared to the $2.69 estimate, and reiterated its long-term annual operating earnings growth target of 6%-8%, supported by a $26 billion, five-year capital investment plan.
July 30, 2024 | 8:44 pm
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FirstEnergy's Q3 EPS guidance of $0.85-$0.95 is slightly above the $0.89 estimate, and its FY24 EPS guidance of $2.61-$2.81 is in line with expectations. The company's long-term growth target of 6%-8% is supported by a $26 billion, five-year capital investment plan.
The Q3 EPS guidance is slightly above market expectations, which is likely to have a positive short-term impact on the stock price. The affirmation of FY24 EPS guidance and long-term growth targets, supported by a substantial capital investment plan, further strengthens investor confidence.
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