FirstEnergy Corporation FE delivered third-quarter 2020 operating earnings of 84 cents per share, which beat the Zacks Consensus Estimate of 80 cents by 5%. Also, the bottom line rose 10.5% from the year-ago quarter’s figure.On a GAAP basis, the company’s earnings increased to 84 cents per share from 73 cents earned in the prior-year quarter.Total RevenuesFirstEnergy generated revenues of $3,022 million in the third quarter, which outpaced the Zacks Consensus Estimate of $2,905.3 million by 4%. Also, the top line moved up 2% from $2,963 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 5.1% on a year-over-year basis. Commercial deliveries declined 5.5% and industrial sales fell 6.3% year over year. Total distribution deliveries dipped 1.7% from the prior-year quarter’s level due to the ongoing pandemic’s impact on commercial and industrial sales.Total operating expenses in the quarter under review came in at $2,301 million, up 0.8% from $2,282 million in the prior-year quarter.In the third quarter, operating income was $721 million, up 5.9% from $681 million in the year-ago quarter.Financial UpdateFirstEnergy had cash, cash equivalents and restricted cash worth $296 million as of Sep 30, 2020 compared with $679 million on Dec 31, 2019.Long-term debt and other long-term obligations as of Sep 30, 2020 were $22,203 million, up from $19,618 million on Dec 31, 2019.Net cash provided byoperating activities in the first nine months of 2020 was $851 million compared with $1,737 million in first nine months of 2019.GuidanceManagement reaffirmed its 2020 earnings per share (EPS) outlook in the range of $2.40-$2.60 with the current Zacks Consensus Estimate being $2.53. Also, the company expects operating EPS to witness a CAGR of 5-7% during the 2018-2023 time period.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 Utility ReleasesPinnacle West Capital Corporation’s PNW adjusted earnings per share of $3.07 in the third quarter of 2020 beat the Zacks Consensus Estimate of $2.98 by 3%.Xcel Energy Inc. XEL posted third-quarter 2020 operating earnings of $1.14 per share, surpassing the Zacks Consensus Estimate of $1.08 by 5.6%.NiSource Inc NI delivered net operating earnings of 9 cents per share in third-quarter 2020, which surpassed the Zacks Consensus Estimate of 2 cents by 85.7%.The Hottest Tech Mega-Trend of AllLast year, it generated $24 billion in global revenues. By 2020, it's predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.See Zacks' 3 Best Stocks to Play This Trend >>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 Pinnacle West Capital Corporation (PNW): Free Stock Analysis Report Xcel Energy Inc. (XEL): Free Stock Analysis Report NiSource, Inc (NI): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research