FirstEnergy Corp FE
Q4 2012 Earnings Call Transcript

Transcript Call Date 02/25/2013

Operator: Greetings and welcome to the FirstEnergy Corp. Fourth Quarter 2012 Earnings Conference Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. As a reminder, this conference is being recorded.

It is now my pleasure to introduce your host, Meghan Beringer, Director of Investor Relations for FirstEnergy Corp. Thank you, Ms Beringer. You may begin.

Meghan Beringer - Director of Investor Relations: Thank you and good afternoon. During this conference call, we will make various forward-looking statements within the meaning of the Safe Harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements with respect to revenues, earnings, performance, strategies, prospects and other aspects of the business of FirstEnergy Corp. are based on current expectations that are subject to risks and uncertainties. A number of factors could cause actual results or outcomes to differ materially from those indicated by such forward-looking statements.

Please read the Safe Harbor statement contained in the consolidated report to the financial community, which was released earlier today and is also available on our website under the Earnings Release link. Reconciliations to GAAP for the non-GAAP earnings measures we will be referring to today are also contained in that report, as well as on the Investor Information section on our website at

Participating in today's call are Tony Alexander, President and Chief Executive Officer; Leila Vespoli, Executive Vice President and General Counsel; Jim Pearson, Senior Vice President and Chief Financial Officer; Donald Schneider, President of FirstEnergy Solutions; Harvey Wagner, Vice President, Controller and Chief Accounting Officer; Steven Staub, Vice President and Treasurer; and Irene Prezelj, Vice President, Investor Relations.

I'll now turn the call over to Tony.

Anthony J. Alexander - President and CEO: Thanks, Meghan, and good afternoon, everyone. Thank you for joining us. Today, I'll provide a general overview of last year's results and accomplishments before moving to some of our key areas of focus for 2013. Leila will join us for a brief regulatory overview and finally, Jim will join the call for the first time in his new capacity as CFO. Jim will take a look back at the fourth quarter, and the full year of 2012 and provide a preview of our 2013 financial objectives. I'm sure most of you already know Jim from his tenure as Treasurer. So, we expect this transition to be quite smooth and of course, Mark Clark remains involved in key company projects in his new role as Executive Vice President of Finance and Strategy.

I would also like to take a moment here to thank Harvey Wagner for his exceptional guidance and oversight as our Vice President, Controller and Chief Accounting Officer and I wish him best in his upcoming retirement. Okay, let's get started.

Today, we announced full year non-GAAP earnings of $3.34 per share in line with our guidance. Despite the absence of a meaningful rebound in the regional economy and energy markets, we accomplished much in 2012 and I'll start by walking through some of the highlights.

Read our Earnings Call Transcript disclaimer.
Add a Comment
E-mail me new replies.