Business news of local interest
FirstEnergy profit hits $454M
FirstEnergy Corp., parent company of Penelec, on Monday reported third-quarter profit of $454 million. The company said it had net income of 84 cents per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 80 cents per share.
The utility company posted revenue of $3.02 billion in the period.
FirstEnergy expects full-year earnings in the range of $2.40 to $2.60 per share.CARLISLE
Giant helps fight hunger
The Giant Co. has announced the donation of $2 million to support local hunger relief efforts in the communities it serves.
The fundraising campaign kicked off Sept. 1 in honor of Hunger Action Month, the Feeding America nationwide network of food banks’ awareness campaign.
The Giant Co. donated $500,000 to 20 local food banks and pantries across four states. An additional $100,000 was donated to Feeding America through The Giant Co.’s 1 for 100 campaign, where for each picture shared of a family connecting over a meal on Facebook, Twitter or Instagram using #ForTodaysTable during the month, 100 meals were donated to neighbors in need.