FirstEnergy reports Q1 earnings of $0.70 per share, reaffirms 2026 guidance

FirstEnergy Corp. (NYSE: FE) reported first quarter 2026 GAAP earnings of $405 million, or $0.70 per share, compared to $360 million, or $0.62 per share, in the same period last year. Revenue increased to $4.2 billion from $3.8 billion in the first quarter of 2025.

Core earnings for the quarter were $0.72 per share, representing a 7.5% increase from $0.67 per share in the first quarter of 2025. The company deployed $1.4 billion in customer-focused investments during the quarter, a 33% increase compared to the prior year period.

FirstEnergy reaffirmed its 2026 Core Earnings guidance range of $2.62 to $2.82 per share. The company also maintained its long-term Core earnings per share compound annual growth projection near the top end of 6-8% from 2026 to 2030.

The utility company confirmed its Energize365 capital investment plan of $6 billion for 2026, focused on distribution infrastructure renewal, grid modernization and transmission system improvements. The five-year Energize365 program through 2030 totals $36 billion, representing a nearly 30% increase compared to the previous five-year investment plan.

Performance across business segments showed growth, with the Distribution segment contributing an additional $0.03 per share compared to 2025, primarily due to higher rates and lower operating expenses. The Integrated segment added $0.01 per share, while the Stand-Alone Transmission segment contributed an additional $0.02 per share.

FirstEnergy serves more than 6 million customers across Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines connecting the Midwest and Mid-Atlantic regions.

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