FirstEnergy reports 2015 earnings

FirstEnergy reports 2015 earnings

AKRON

FirstEnergy Corp. reported full-year 2015 operating earnings of $2.71 per basic share of common stock, in line with the company’s most-recent guidance range. The results exclude the impact of special items and compare with full-year 2014 operating earnings of $2.56 per basic share of common stock.

The company reported 2015 net income of $578 million, or $1.37 per basic and diluted share of common stock, on revenue of $15 billion.

Net income in 2014 was $299 million, or $0.71 per basic and diluted share of common stock, also on revenue of $15 billion.

Supply-chain management panel

SHARON, Pa.

Penn State Shenango will host “Project and Supply Chain Management: In Business and In Health,” a panel discussion about the real world of supply-chain management, from 6 to 7:30 p.m. March 2 in the campus auditorium on Shenango Avenue downtown.

Representatives from FedEx Corp., UPMC and JMC Steel Group will constitute the panel of experts. A networking opportunity with light refreshments will follow the discussion. The event is free and open to the public.

GM renames group

PONTIAC, MICH.

After 24 years, General Motors will rename GM Powertrain to GM Global Propulsion Systems. GM’s Global Propulsion Systems is collectively the group of more than 8,600 people who design, develop and engineer all propulsion-related products and controls for GM worldwide.

Manufacturing up

WASHINGTON

U.S. factories cranked out more autos, furniture and food last month, boosting production by the most since July.

Manufacturing output rose 0.5 percent in January, after falling in four of the previous five months, the Federal Reserve said Wednesday. Overall industrial production, which includes mining and utilities, added 0.9 percent, the biggest jump in 14 months.

The data could raise hopes that manufacturing may be stabilizing after output declined for much of last year. The strong dollar and weak overseas growth have cut into exports and the profits of large multinational corporations. By some measures, U.S. factories had contracted since last fall.

Toyota recalls more than 1.1M SUVs

DETROIT

Toyota is recalling more than 1.1 million small SUVs in the U.S. because the seat belts might fail in a crash.

The recall covers RAV4 SUVs from the 2006 through 2012 model years, as well as the RAV4 electric vehicle from 2012 through 2014.

Toyota says it’s possible that the belts in both second-row outside seats could come in contact with the metal seat-cushion frame in a severe frontal crash. If that happens, the belts could become cut and would not restrain passengers.

The company says it will add plastic covers to the seat-cushion frame at no cost to owners. It was unclear when the recall would begin.

Staff/wire reports