FirstEnergy Corporation FE delivered first-quarter 2021 operating earnings of 69 cents per share, which beat the Zacks Consensus Estimate of 68 cents by 1.5%. Also, the bottom line improved 4.5% from the year-ago quarter’s figure.On a GAAP basis, the company reported earnings of 62 cents per share compared with 14 cents in the prior-year quarter.Total RevenuesFirstEnergy generated revenues of $2,726 million in the first quarter, which missed the Zacks Consensus Estimate of $2,895 million by 5.8%. However, the top line inched up 0.6% from $2,709 million in the year-ago quarter.FirstEnergy Corporation Price, Consensus and EPS Surprise FirstEnergy Corporation price-consensus-eps-surprise-chart | FirstEnergy Corporation QuoteHighlights of the ReleaseResidential sales increased 12.8% on a year-over-year basis. Commercial deliveries dipped 3% while industrial sales fell 2.1% year over year. Total distribution deliveries climbed 3.2% from the prior-year quarter’s level primarily due to higher residential usage.Total operating expenses in the quarter under review came in at $2,167 million, down 0.5% from $2,177 million in the prior-year quarter.In the first quarter, operating income was $559 million, up 5.1% from $532 million in the year-ago quarter.Financial UpdateFirstEnergy had cash, cash equivalents and restricted cash worth $1,281 million as of Mar 31, 2021 compared with $1,734 million on Dec 31, 2020.Long-term debt and other long-term obligations as of Mar 31, 2021 were $22,204 million, up from $22,131 million on Dec 31, 2020.Net cash provided by operating activities in the first three months of 2021 was $533 million against net cash used for operating activities of $560 million in the comparable period a year ago.GuidanceManagement reaffirmed the company’s 2021 earnings per share (EPS) outlook in the range of $2.40-$2.60 while the current Zacks Consensus Estimate is pegged at $2.51. Also, the company expects second-quarter 2021 EPS in the band of 48-58 cents with the current Zacks Consensus Estimate pegged at 57 cents. Zacks RankFirstEnergy currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Other ReleasesAmerican Electric Power Co., Inc. AEP reported first-quarter 2021 adjusted earnings per share of $1.15, which missed the Zacks Consensus Estimate of $1.23 by 6.5%.NextEra Energy, Inc. NEE reported first-quarter 2021 adjusted earnings of 67 cents per share, which beat the Zacks Consensus Estimate of 60 cents by 11.7%.Upcoming ReleaseXcel Energy XEL is scheduled to announce first-quarter 2021 results on Apr 29. The Zacks Consensus Estimate for earnings per share is pegged at 61 cents.Zacks Top 10 Stocks for 2021In addition to the stocks discussed above, would you like to know about our 10 best buy-and-hold tickers for the entirety of 2021?Last year's 2020 Zacks Top 10 Stocks portfolio returned gains as high as +386.8%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.AccessZacks Top 10 Stocks for 2021 today >>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 FirstEnergy Corporation (FE): Free Stock Analysis Report American Electric Power Company, Inc. (AEP): Free Stock Analysis Report Xcel Energy Inc. (XEL): Free Stock Analysis Report NextEra Energy, Inc. (NEE): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research