FE · 10-Q · 2026Q1 · Full report

Operating Cash Flow Trends

FIRSTENERGY CORP · 2026-04-28 · Importance 96 · Surprise 100

Net cash provided from operating activities declined to $148 million in Q1 2026 from $637 million in Q1 2025, a decrease of $489 million driven by PUCO-approved restitution/refunds to Ohio customers, higher storm restoration costs and higher transmission and purchased power costs (including impacts from Winter Storm Fern). The company also cites decreased working capital driven by timing of taxes and accrued interest and lower cash collateral from suppliers, partially offset by increased customer usage due to colder weather and higher returns from regulated capital investment programs. Impacts were felt across the Ohio Companies and JCP&L, with temporary rate credits to JCP&L residential customers recovered in Q1 2026. These operating cash flow shifts indicate near-term volatility in customer billing/restitution, weather-driven demand and purchased-power cost exposure.

Key facts