FE · Utilities

FIRSTENERGY CORP

Ranked earnings events from SEC filings, earnings calls, press releases and news. Full Picture: what to focus on this earnings window

News · 2026-08-07

• JCP&L Rate BaseImportance 34 · Surprise 42
  Jersey Central Power & Light filed a rate proposal with the New Jersey Board of Public Utilities. The proposal would delay the customer bill impact for residential customers until 2028 while continuing investments to…
• Transmission Rate Base GrowthImportance 30 · Surprise 40
  An Argus analyst report highlighted 14% year-over-year growth in FirstEnergy’s transmission rate base. FirstEnergy is described as an Akron, Ohio-based electric company with 10 regulated subsidiaries and a focus on…
• Grid Modernization and ReliabilityImportance 15 · Surprise 24
  Ohio lawmakers and energy advocates are questioning FirstEnergy's reliability performance and the adequacy of the state's power grid. The scrutiny is occurring amid continuing debate over Ohio energy policy and…

News · 2026-08-06

• Revenue Performance and MixImportance 31 · Surprise 6
  FirstEnergy reported first-quarter revenue of $3.68 billion, exceeding analyst forecasts. First-quarter EPS was $0.50, in line with estimates. The company declared a quarterly dividend of $0.465 per share.
• Grid Modernization and ReliabilityImportance 15 · Surprise 24
  Ohio lawmakers and energy advocates are questioning FirstEnergy's reliability performance and the adequacy of the state's power grid. The scrutiny is occurring amid continuing debate over Ohio energy policy and…

News · 2026-08-04

• Revenue Performance and MixImportance 31 · Surprise 6
  FirstEnergy reported first-quarter revenue of $3.68 billion, exceeding analyst forecasts. First-quarter EPS was $0.50, in line with estimates. The company declared a quarterly dividend of $0.465 per share.
• Grid Modernization and ReliabilityImportance 15 · Surprise 24
  Ohio lawmakers and energy advocates are questioning FirstEnergy's reliability performance and the adequacy of the state's power grid. The scrutiny is occurring amid continuing debate over Ohio energy policy and…
• Capital Return ProgramImportance 13 · Surprise 6
  FirstEnergy declared a quarterly dividend of $0.465 per share. The dividend declaration provides a recurring cash distribution to shareholders, although the digest does not state the aggregate payment amount or any…

10-Q · 2026-04-28

• Storm Cost RecoveryImportance 71 · Surprise 82
  Other operating expenses increased in Q1 2026 largely due to storm restoration costs totaling $81 million versus Q1 2025. Of that $81 million, $74 million were deferred for future recovery, indicating regulatory…
• Guarantees and Collateral ObligationsImportance 70 · Surprise 24
  FirstEnergy explains that various contracts for capacity, energy, fuel and emission allowances require the posting of collateral, with thresholds contingent on subsidiaries’ credit ratings, and that collateral may be…
• Offshore Wind Transmission InvestmentImportance 69 · Surprise 50
  JCP&L’s proposal accepted in part by the NJBPU on October 26, 2022 included approximately $723 million of investments to build and upgrade transmission infrastructure to connect offshore wind resources, with a…
• DPA and Criminal ProceedingsImportance 65 · Surprise 60
  On July 21, 2021 FirstEnergy entered into a three-year Deferred Prosecution Agreement (DPA) with the U.S. Attorney’s Office resolving the company’s criminal exposure subject to court proceedings. Under the DPA…
• West Virginia Generation InvestmentImportance 65 · Surprise 60
  MP and PE filed an integrated resource plan on October 1, 2025 that proposes near-term market capacity purchases and the addition of 70 MWs of solar by 2028 and 1,200 MWs of natural gas combined cycle generation by…
• Credit Facilities / Interest ExposureImportance 64 · Surprise 42
  On October 27, 2025 FirstEnergy and many subsidiaries entered into amended credit facilities that removed a 10 bps credit spread adjustment, permitted a one-week interest period based on daily simple SOFR for term…
• Pension Funding and RisksImportance 62 · Surprise 50
  FirstEnergy discloses pension plan asset allocations (approximately 30% equities, 19% fixed income, 24% private debt/equity and other allocations) and that it does not expect a required pension contribution until 2027,…
• West Virginia Regulatory MattersImportance 59 · Surprise 60
  MP and PE filed an Integrated Resource Plan with the WVPSC on October 1, 2025 proposing near‑term capacity purchases, 70 MW of solar by 2028 and 1,200 MW of natural gas combined cycle generation by 2031 to meet PJM…
• Credit Ratings and Debt CapacityImportance 59 · Surprise 60
  FE and its subsidiaries carry investment-grade ratings from S&P, Moody’s and Fitch across multiple entities; on April 27, 2026 the filing lists a range including FE at S&P BBB+, Moody's Baa3 and Fitch BBB. On March 30,…
• FE Convertible Notes IssuanceImportance 59 · Surprise 60
  FirstEnergy discloses its issuance and active management of convertible and unsecured note financing: FE issued $1.5 billion of 2026 Convertible Notes in May 2023 (4.00%), repurchased ~$1.2 billion of those in June…
• EmPOWER Maryland Program Budget and Legal UpdateImportance 58 · Surprise 42
  PE’s EmPOWER Maryland program had three scenarios filed with projected three-year costs of $311 million, $354 million and $510 million; the MDPSC approved the $311 million scenario on December 29, 2023 and later…
• EmPOWER Maryland ProgramImportance 58 · Surprise 42
  PE describes the EmPOWER Maryland program driven by the Climate Solutions Now Act of 2022, which established escalating annual incremental energy efficiency targets through 2027 and beyond, and PE submitted…
• Revenue Performance and MixImportance 54 · Surprise 40
  FirstEnergy reported consolidated revenues of $4,202 million for the three months ended March 31, 2026, up $437 million from $3,765 million in Q1 2025. Distribution-segment distribution services revenues decreased $88…
• Pennsylvania Energy Efficiency ProgramsImportance 54 · Surprise 24
  Pursuant to Pennsylvania Act 129 and PPUC orders, the Pennsylvania Companies implemented energy efficiency and peak demand reduction programs with stated MW and MWh reduction targets for ME, PN, Penn and WP and…
• Energy Efficiency Cost Recovery (PA)Importance 54 · Surprise 24
  Pursuant to Pennsylvania Act 129 and PPUC orders, the Pennsylvania Companies implemented multi-phase energy efficiency and peak demand reduction programs; the approved Phase IV (June 1, 2021–May 31, 2026) provides cost…
• Transmission ROE IncentiveImportance 53 · Surprise 60
  A complaint filed by the OCC led to litigation over FERC’s 50 basis point ROE adder for RTO membership; the Sixth Circuit held that the adder applies only where RTO membership is voluntary. As a result, ATSI recorded a…
• Ohio Regulatory Matters & RestitutionImportance 52 · Surprise 68
  The Ohio Companies filed for base distribution rate increases and on November 19, 2025 the PUCO issued an order approving a net increase in base distribution revenues of approximately $34 million with a 9.63% ROE and a…
• CCR Impoundment Transfer and EscrowImportance 52 · Surprise 42
  On March 4, 2025 AE Supply transferred the McElroy’s Run CCR impoundment facility and adjacent dry landfill and related remediation obligations to a subsidiary of IDA Power, LLC under an environmental liability…
• Regulation of Waste DisposalImportance 52 · Surprise 42
  FirstEnergy is subject to federal and state CCR and hazardous waste rules; AE Supply transferred the McElroy’s Run CCR impoundment and related remediation obligations on March 4, 2025 to a subsidiary of IDA Power, LLC…
• CCR Liability Transfer EscrowImportance 52 · Surprise 42
  AE Supply transferred the McElroy’s Run CCR impoundment facility and adjacent dry landfill and related remediation obligations on March 4, 2025 to a subsidiary of IDA Power, LLC pursuant to an environmental liability…
• JCP&L Rate BaseImportance 50 · Surprise 24
  Jersey Central Power & Light Company (JCP&L), a wholly owned FirstEnergy subsidiary, provides regulated transmission and distribution services in northern, western and east central New Jersey. JCP&L represents $5.1…
• Capital Resources and LiquidityImportance 48 · Surprise 24
  FirstEnergy states its businesses are capital intensive and expects existing liquidity sources to be sufficient to meet obligations but will rely on internal cash, short‑term borrowings and long‑term debt (including…
• Storm Restoration and Regulatory DeferralsImportance 46 · Surprise 42
  Other operating expenses rose $79 million in Q1 2026, primarily driven by higher storm restoration expenses of $81 million, of which $74 million was deferred for future recovery. As a result, deferral of regulatory…
• Rate Structure and Formula RatesImportance 44 · Surprise 24
  JCP&L derives transmission revenues from forward-looking formula rates that are updated annually based on a projected rate base and projected costs with an annual true-up to actual rate base and costs. The utility…
• Regulated Rate Base (JCP&L)Importance 43 · Surprise 6
  JCP&L, a wholly owned FirstEnergy subsidiary, provides regulated transmission and distribution services in northern, western and east central New Jersey and represented $5.1 billion in rate base as of December 31,…
• Pennsylvania DSP ProcurementImportance 40 · Surprise 42
  On February 3, 2026 FE PA filed a proposed Distribution Service Plan (DSP) to procure generation for the June 1, 2027 through May 31, 2031 delivery period via competitive procurements for customers without an…
• PJM Capacity Market ReformsImportance 40 · Surprise 42
  A Statement of Principles released January 16, 2026 seeks to increase capacity in PJM and PJM is soliciting stakeholder input on mechanisms including a backstop capacity auction, price caps, term and quantity, and…
• Climate ChangeImportance 40 · Surprise 42
  Federal developments include the EPA’s rescission of the 2009 Endangerment Finding (Feb 12, 2026) and ongoing reconsideration or repeal activity around the GHG rule, creating uncertainty over future GHG regulation and…
• Large Load Interconnection RulemakingImportance 37 · Surprise 42
  The U.S. Secretary of Energy directed FERC to adopt rules to speed interconnection of large loads (including AI data centers and hybrid data center/generation facilities), advancing principles that large loads should…
• Regulated Capital InvestmentImportance 37 · Surprise 32
  JCP&L owns and operates transmission infrastructure under forward‑looking formula rates, with revenue requirements updated annually based on projected rate base and costs and subject to annual true‑ups. Higher…
• Rate Mechanism and BGS AuctionImportance 36 · Surprise 6
  JCP&L’s transmission and distribution revenues are governed by forward‑looking formula rates that are updated annually based on a projected rate base and projected costs and are subject to an annual true‑up to actual…
• Distribution Operating Expense DriversImportance 35 · Surprise 48
  Distribution total operating expenses increased $22 million in Q1 2026 versus Q1 2025, driven by a $152 million rise in purchased power costs (no material earnings impact) and an $89 million increase in other operating…
• Headcount / RestructuringImportance 33 · Surprise 50
  FirstEnergy reported that the absence of severance and related costs associated with organizational changes announced in Q1 2025 materially reduced expense in Q1 2026, contributing to higher segment earnings;…
• Clean Air ActImportance 32 · Surprise 24
  FirstEnergy complies with SO2 and NOx reduction requirements under the Clean Air Act through lower‑sulfur fuel, combustion controls and emissions allowances, and has participated in CSAPR compliance and allowance…
• Transmission Planning Supplemental ProjectsImportance 31 · Surprise 42
  The OCC and other intervenors have challenged PJM’s handling of Attachment M‑3 “Supplemental Projects,” alleging lack of PJM review for need, prudence and cost‑effectiveness and seeking new FERC oversight and…
• JCP&L Operating Segment ReorganizationImportance 31 · Surprise 42
  Effective January 1, 2026, JCP&L changed how management evaluates operating performance and allocates resources and reassessed its operating segments, consolidating reporting into a single integrated business.…
• Operating Expense / Purchased Power CostsImportance 29 · Surprise 22
  Total operating expenses increased $70 million in Q1 2026 versus Q1 2025. Purchased power costs increased by $80 million in the period due to higher sales volumes and unit costs; the company states purchased power has…
• Prior Period Correction - AMI Smart MetersImportance 28 · Surprise 42
  During Q4 2025 JCP&L identified an error in recording certain expenses for smart meter cost of removal related to its AMI deployment, which caused an understatement of expense and regulatory assets/liabilities back to…
• Deferred Prosecution AgreementImportance 27 · Surprise 6
  On July 21, 2021 FirstEnergy entered into a three-year Deferred Prosecution Agreement (DPA) with the U.S. Attorney’s Office resolving the matter as to FirstEnergy, which included a criminal monetary penalty totaling…
• Products and TechnologyImportance 26 · Surprise 30
  FirstEnergy is investing in grid modernization technologies including automation, communications and advanced metering infrastructure (AMI) as part of its Energize365 program and state-specific plans such as the Ohio…
• Supply Chain Constraints and TariffsImportance 26 · Surprise 24
  FirstEnergy is monitoring supply lead times amid rising industry demand (including data center load) and notes the imposition of tariffs and retaliatory tariffs by the U.S. government as a potential supply risk. The…
• Cash Position and ChangesImportance 25 · Surprise 32
  As of March 31, 2026, FirstEnergy reported $52 million of cash and cash equivalents and $28 million of restricted cash versus $57 million and $42 million, respectively, at December 31, 2025. Net change in cash, cash…
• Accounting Restatement / CorrectionImportance 25 · Surprise 42
  During Q4 2025 JCP&L identified an error in recording certain smart meter cost of removal expenses associated with its AMI deployment, which resulted in an understatement of expense on income statements and regulatory…
• Interest Expense and New DebtImportance 24 · Surprise 14
  Total other expenses increased $5 million in Q1 2026 versus Q1 2025, primarily due to higher interest expense from new debt issued since Q1 2025. The increase in interest expense was partially offset by higher…
• Weather Impact on DemandImportance 24 · Surprise 14
  Actual total electric distribution MWh deliveries increased to 4,995 thousand in Q1 2026 from 4,760 thousand in Q1 2025, a 4.9% increase. On a weather-adjusted basis total deliveries rose to 4,887 thousand from 4,795…
• Customer Procurement and AuctionsImportance 24 · Surprise 14
  JCP&L procures electric supply for BGS (Basic Generation Service) customers through a statewide auction process approved by the New Jersey Board of Public Utilities, making auction rates a key determinant of generation…
• Capital Return ProgramImportance 18 · Surprise 14
  In February 2026 the FE Board increased the quarterly cash common stock dividend by $0.02 to $0.465 per share payable June 1, 2026, a 4.5% increase versus 2025. FirstEnergy describes this modest dividend growth as…
• Quarterly Net Income ChangeImportance 18 · Surprise 14
  Net income for JCP&L increased by $19 million in Q1 2026 versus Q1 2025. The company attributes the increase primarily to the absence of severance and related costs that were recorded in Q1 2025, lower other operating…
• Depreciation and Smart Meter AmortizationImportance 18 · Surprise 14
  Depreciation expense decreased $4 million in Q1 2026 versus Q1 2025. The decrease was primarily due to accelerated amortization of legacy smart meters in New Jersey, which concluded in December 2025. The accelerated…
• Income Tax RateImportance 18 · Surprise 14
  The effective income tax rate was 25.0% for the three months ended March 31, 2026, compared with 25.4% for the three months ended March 31, 2025. This represents a 0.4 percentage point decline in the effective tax rate…
• State‑mandated Program Cost RecoveryImportance 18 · Surprise 14
  Energy efficiency and other state‑mandated program costs increased by $10 million in Q1 2026 versus Q1 2025, and these costs were deferred for future recovery. Management states the deferral resulted in no material…
• Existing Generation CapacityImportance 17 · Surprise 24
  As of March 31, 2026, FirstEnergy reported that AGC and MP control a combined 3,610 MW of net maximum generation capacity. This existing net generation capacity (AGC and MP) is part of FirstEnergy’s Integrated segment…