Latest News by Industry
![Firstenergy Corp [FE] reports annual net loss of $1.2 billion](/_next/image?url=https%3A%2F%2F10kinfo-appdata.s3.us-west-2.amazonaws.com%2Fedgar0105%2FCompanyLogos%2FUS%2FFE.png&w=1200&q=75)
FIRSTENERGY CORP [FE] has reported a net loss of $1.2 billion for year ended Dec 31, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue for the year was $12.9 billion
Based in AKRON, Ohio, FIRSTENERGY CORP operates in the TRANSPORT sector.
In the annual report for the fiscal year ended December 31, 2023, FirstEnergy Corp. reported the following financial results compared to the previous year (2022) and the year before that (2021):
REVENUES:
- Total revenues for 2023 amounted to $12.87 billion, showing an increase from $12.46 billion in 2022 and $11.13 billion in 2021.
OPERATING EXPENSES:
- Operating income for 2023 stood at $2.27 billion, compared to $1.91 billion in 2022 and $1.73 billion in 2021.
NET INCOME:
- Net income for 2023 was $1.18 billion, up from $439 million in 2022 and $1.28 billion in 2021.
EARNINGS PER SHARE:
- Earnings per share attributable to FirstEnergy Corp. for 2023 were $1.92 on a basic level and $1.92 on a diluted level. This is an improvement from $0.71 (basic and diluted) in 2022 and $2.35 (basic) and $2.35 (diluted) in 2021.
Weighted average number of common shares outstanding for 2023 were 573 million on a basic level and 574 million on a diluted level. This is a slight increase from 571 million (basic) and 572 million (diluted) in 2022, and 545 million (basic) and 546 million (diluted) in 2021.
The segment-wise revenue breakdown is as follows:
- Distribution services and retail generation: Total revenues of $10.41 billion in 2023, up from $9.92 billion in 2022 and $9.01 billion in 2021.
- Transmission: Total revenues of $2.05 billion in 2023, compared to $1.86 billion in 2022 and $1.61 billion in 2021.
- Other: Total revenues of $416 million in 2023, down from $680 million in 2022 and up from $515 million in 2021.
Overall, FirstEnergy Corp. demonstrated growth in revenues, operating income, and net income in 2023 compared to the previous years, reflecting a positive financial performance.
Also Read: