Key Highlights

  • FirstEnergy reported third quarter GAAP earnings of USD 0.96 per share on revenue of USD 4.6 billion.
  • Core earnings, a non-GAAP measure, were USD 0.98 per share, up from USD 0.83 per share a year earlier.
  • Year to date core earnings reached USD 2.20 per share, a 9% increase compared with the same period of 2025.
  • The company reaffirmed full year 2026 core earnings guidance of USD 2.62 to USD 2.82 per share.

Core Earnings Rise on Investment Strategy Execution

FirstEnergy Corp (NYSE:FE) reported third quarter GAAP earnings of USD 557 million, or USD 0.96 per basic and diluted share, on revenue of USD 4.6 billion, compared with GAAP earnings of USD 441 million, or USD 0.76 per share, on revenue of USD 4.1 billion in the third quarter of 2025. Core earnings, a non-GAAP measure that excludes certain special items, were USD 0.98 per share, up from USD 0.83 per share a year earlier.

For the first nine months of 2026, the company reported GAAP earnings of USD 1.3 billion, or USD 2.16 per share, on revenue of USD 12.4 billion, compared with GAAP earnings of USD 1.1 billion, or USD 1.85 per share, on revenue of USD 11.3 billion in the same period of 2025. Year to date core earnings were USD 2.20 per share, a 9% increase from USD 2.02 per share in the same period of 2025.

Capital Investment Plan Supports Long Term Growth

The company's growth is underpinned by its five-year, USD 36 billion Energize365 capital investment program, intended to modernize the grid, renew distribution infrastructure and strengthen transmission reliability. Through the first nine months of 2026, the company deployed USD 4.9 billion toward this program.

Management said the long-term outlook continues to reflect a core earnings compound annual growth rate near the top end of its 6% to 8% target range through 2030, with opportunities tied to new generation and additional transmission investment potentially increasing that growth profile further.

Guidance Reaffirmed as Generation Opportunities Expand

The company reaffirmed its full year 2026 core earnings guidance range of USD 2.62 to USD 2.82 per share and said it anticipates results at or slightly above the midpoint of that range. The company is also pursuing expanded generation opportunities in West Virginia as electricity demand grows across the state.

Continued execution of the Energize365 capital plan, alongside the pace of new generation and transmission investment opportunities, remain the primary variables supporting the company's long term earnings growth trajectory. Regulatory outcomes tied to rate cases across the company's service territory could also affect the pace of core earnings growth in future periods.

Capital Plan Metrics to Track

Progress deploying the remaining portion of the USD 36 billion Energize365 investment plan, full year 2026 core earnings relative to the reaffirmed USD 2.62 to USD 2.82 guidance range, and developments tied to new generation opportunities in West Virginia are among the items the company has flagged for investors. The core earnings compound annual growth rate relative to its 6% to 8% target range through 2030 remains a longer term reference point.