FirstEnergy's Q2 loss attributed to plant deactivations; Church & Dwight, Snyder's-Lance also report earnings
Ohio-based FirstEnergy Corp., which includes Metropolitan Edison Co. serving parts of the midstate, reported today a net loss for the second quarter of about $164 million, or 39 cents per diluted share, compared with net income of $188 million, or 45 cents per diluted share, in the year-ago period.
The loss in the most recently completed quarter was primarily because of plant deactivation costs, which reduced earnings by about 85 cents per share, according to the company.
Also reporting quarterly earnings this morning was North Carolina-based snack food maker Snyder’s-Lance Inc. It reported today second-quarter net income attributable to the firm of nearly $13 million, or 19 cents per diluted share, compared with $19.3 million, or 28 cents per diluted share, in the year-ago quarter.
Excluding special items, net income for Snyder’s-Lance was $16.9 million, or 24 cents per diluted share, compared with about $15 million, or 22 cents per diluted share, in the year-ago period.
Late last week, New Jersey-based Church & Dwight Co. Inc., with a major facility in York County, reported second-quarter net income of $86.6 million, or 61 cents per diluted share, compared with net income of $79.3 million, or 56 cents per diluted share in the year-ago period.