Earnings Call Excerpt
FirstEnergy Corp. (FE)
Q4 2007 Earnings Call
February 25, 2008 1:00 pm ET
Executives
Kurt Turosky - IR
Tony Alexander - President and CEO
Rich Marsh - SVP and CFO
Harvey Wagner - VP and Controller
Jim Pearson - VP and Treasurer
Ron Seeholzer - VP of IR
Analysts
Paul Fremont - Jefferies & Company
John Kiani - Deutsche Bank
Hugh Wynne - S. C. Bernstein
Paul Patterson - Glenrock Associates
Paul Ridzon - Keybanc Capital Markets
Daniele Seitz - Dahlman Rose & Co.
Hugh Wynne - S. C. Bernstein
Presentation
Operator
At this time, I would like to welcome everyone to the FirstEnergy Corp's fourth quarter 2007 Earnings Call. (Operator Instructions)
It is now my pleasure to turn the floor over to your host, Director of Investor Relations, Kurt Turosky. Sir, you may begin your conference.
Kurt Turosky
Thank you. 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 measure, we will be referring to today, are also contained in that report as well as on the investor information section of our website at www.firstenergycorp.com\ir.
Participating in today's call are Tony Alexander, President and Chief Executive Officer; Rich Marsh, Senior Vice President and Chief Financial Officer; Harvey Wagner, Vice President and Controller; Jim Pearson, Vice President and Treasurer; and Ron Seeholzer, Vice President of Investor Relations.
I'll now turn the call over to, Tony.
Tony Alexander
Thanks, Kurt, and good afternoon, everyone. We had a solid year in 2007 and achieved the highest earnings in FirstEnergy's 10 year history. We reported non-GAAP, normalized earnings, of $4.23 per share, which was near the top end of our earnings guidance, and a 9% increase over our 2006 non-GAAP earnings.
We generated approximately $1.7 billion in net cash from operating activities, which included a $300 million pension contribution. And our stock price appreciation plus reinvested dividends produced a total return for shareholders of more than 23%.
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