FirstEnergy Corporation FE reported third-quarter 2017 operating earnings of 97 cents per share, beating the Zacks Consensus Estimate of 86 cents by 12.8%. Quarterly earnings were also up 7.7% year over year.Moreover, third-quarter earnings exceeded the guidance of 75-90 cents provided by the company during second-quarter 2017.On a GAAP basis, the diversified energy company reported earnings of 89 cents, in line with the prior-year quarter’s earnings.Total RevenuesFirstEnergy generated total revenues of $3,714 million in third-quarter 2017, beating the Zacks Consensus Estimate of $3,640 million by 2.04%.Reported revenues were down 5.5% from $3,917 million reported a year ago. The top line declined primarily due to lower contribution from Competitive Energy Services and Regulated distribution segments.Highlights of the ReleaseTotal electric sales decreased 2,899 thousand megawatt-hours (MWh) or 7% year over year. Residential sales declined 2,275 thousand MWh or 14.1%, while commercial sales fell 777 thousand MWh or 6.5%. Industrial sales improved 150 thousand MWh or 1.2% primarily on account of higher usage by shale and steel customers.For the third quarter, FirstEnergy incurred operating expenses of $2,781 million, down 9% from $3,056 million a year ago, primarily due to lower unit cost of fuel and cost of purchased power.Operating income in the reported quarter was pegged at $835 million, up from $861 million in the prior-year quarter.Financial UpdateFirstEnergy's cash on hand as of Sep 30, was $399 million, up from $199 million as of Dec 31, 2016.Long-term debt and other long-term obligations as of Sep 30, were $21,089 million compared with $18,192 million as of Dec 31, 2016.Net cash provided from operating activities was $2,762 million during the first nine months of 2017 compared with $2,592 million in the first nine months of 2016.GuidanceFirstEnergy has raised the operating earnings guidance for full-year 2017 to the range of $3.00-$3.10 per share from previous expectation of $2.70-$3.00.Peer ReleasesNextEra Energy, Inc NEE reported third-quarter 2017 operating earnings of $1.85 per share, beating the Zacks Consensus Estimate of $1.75 by 5.71%.DTE Energy Company DTE reported third-quarter 2017 adjusted earnings of $1.48 per share, missing the Zacks Consensus Estimate of $1.53 by 3.26%.WEC Energy Group, Inc WEC reported third-quarter 2017 adjusted earnings of 68 cents per share, compared with the Zacks Consensus Estimate of 67 cents by 1.49%.Zacks RankFirstEnergy currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Wall Street’s Next AmazonZacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.Click for details >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report WEC Energy Group, Inc. (WEC): Free Stock Analysis Report NextEra Energy, Inc. (NEE): Free Stock Analysis Report FirstEnergy Corporation (FE): Free Stock Analysis Report DTE Energy Company (DTE): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research