FirstEnergy Q1 earnings 90 cents per share vs 92 cents
NEW YORK (MarketWatch) — FirstEnergy Corp. said Thursday that first-quarter earnings fell to $276 million, or 90 cents, vs $290 million, or 92 cents, in the same period a year ago. Revenue grew to $3.3 billion, compared to $3.0 billion a year ago. First quarter 2008 results benefited from increased generation margins - revenue less fuel and purchased power costs - as well as a gain from the sale of non-core assets, and the impact of fewer common shares outstanding resulting from last year’s share repurchase program. These factors were offset by decreased investment income, and increases in other costs, the company said.
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