FE · Full Picture

FIRSTENERGY CORP — the full picture

Earnings window · 2026-04-07 to 2026-08-09 · anchored on the 10-Q report

One earnings window, everything merged: the filing, the call, press releases and news digests, folded into ranked threads.

What to look at first

  1. Revenue Performance and Mix · Revenue growth & mixPriority 82
    +2.5% revenue; 2 sources (news, sec_filing); 1 forward row(s); quote_verified
    FirstEnergy’s consolidated revenues for the three months ended March 31, 2026 were $4,202 million compared with $3,765 million for the three months ended March 31, 2025.
  2. Energize365 Capital Plan · Capital expenditurePriority 70
    +53.7% assets; 2 forward row(s)
    FirstEnergy’s Energize365 investment plan for the 2026 to 2030 time period is $36 billion.
  3. JCP&L Rate Base · UnclassifiedPriority 64
    2 sources (news, sec_filing); 2 forward row(s); quote_verified
    Jersey Central Power & Light Company (JCP&L) provides regulated electric transmission and distribution services in northern, western and east central New Jersey representing $5.1 billion in rate base as of December 31, 2025.
  4. Pennsylvania Energy Efficiency Programs · UnclassifiedPriority 62
    +7.9% revenue; 1 forward row(s)
    On November 26, 2025, FE PA submitted a petition for approval of its Phase V Energy Efficiency and Conservation Plan that includes demand reduction targets at 2.01% MW, energy consumption reduction targets at 2.00% MWh, cost recovery of approximately $390 million, and a five-year period running June 1, 2026 through May 31, 2031.
  5. Integrated Operating Expense Drivers · Operating expenses (SG&A)Priority 57
    -11.8% operating_income (realized)
    Integrated segment other operating expenses increased $335 million in the first three months of 2026 compared with the same period of 2025, primarily due to higher transmission congestion charges of $221 million and higher storm restoration expenses of $77 million.
  6. Operating Expense / Purchased Power Costs · UnclassifiedPriority 57
    -16.8% operating_income (realized)
    Total operating expenses for FirstEnergy increased to $3,374 million for the three months ended March 31, 2026 from $3,011 million for the three months ended March 31, 2025.
  7. Operating Cash Flow Trends · Cash flow generationPriority 54
    qualitative only
    Net cash provided from operating activities was $637 million in the first three months of 2025.
  8. WV Combined Cycle & Solar CPCN · UnclassifiedPriority 54
    1 forward row(s)
    The CPCN filed on February 13, 2026 by MP and PE requests a surcharge designed to recover financing costs during development and construction and to transition to recovery in base rates once projects are placed in-service and approved through a base rate case, with hearings scheduled for July 16 and 17, 2026 and a final order expected from the WVPSC in the second half of 2026.
  9. West Virginia Regulatory Matters · Regulatory action & investigationsPriority 52
    +3.1% assets; 8 forward row(s)
    On February 13, 2026, MP and PE filed a CPCN to construct and operate a 1,200 MW combined cycle gas turbine plant and 70 MWs of solar generation capacity for an estimated capital investment totaling approximately $2.7 billion as of the date of the filing.
  10. Acquisition / Partnership / Divestiture · M&A and divestituresPriority 49
    qualitative only
  11. West Virginia Generation Investment · UnclassifiedPriority 46
    1 forward row(s)
    On October 1, 2025, MP and PE filed their integrated resource plan proposing near-term market capacity purchases, the addition of 70 MWs of solar generation by 2028 and 1,200 MWs of natural gas combined cycle generation by 2031.
  12. PJM RTEP / Transmission Awards · UnclassifiedPriority 45
    +1.9% assets; 4 forward row(s)
    On February 26, 2025, PJM awarded two electric transmission projects to Valley Link estimated to be approximately $3 billion, with FET’s share estimated to be approximately $1 billion.

Threads by pillar

Revenue & Demand Priority 83 · 2 threads

Costs & Margins Priority 68 · 5 threads

Capital & Balance Sheet Priority 91 · 14 threads

Strategy & Portfolio Priority 49 · 1 thread

Legal, Regulatory & Policy Priority 64 · 3 threads

Macro & Market Conditions Priority 23 · 1 thread

Management & Governance Priority 43 · 2 threads

Unclassified Priority 99 · 5 threads

Expected impact by metric

metricforward netforward grossrealized
assets+59.7%+59.7%+2.2%
cash-56.4%+57.6%+1.7%
revenue+10.7%+10.7%+27.1%
liability-0.7%+0.7%-4.1%
operating_income+0.6%+0.6%-30.1%
net_income——+0.6%