FE · 10-Q · 2026Q1 · Full report
Quarterly Net Income Change
FIRSTENERGY CORP · 2026-04-28 · Importance 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 expenses, higher transmission revenues from regulated capital investments that increased rate base, higher revenues associated with certain investment programs, and increased customer demand. The $19 million improvement occurred despite higher purchased power and storm-related expenses because much of those costs were deferred for recovery. This outcome reflects the combined impact of cost deferrals, higher regulated-rate base recoveries and reduced one-time severance costs.
Key facts
- Earnings attributable to FE were $405 million or $0.70 per share (basic and diluted) in the first three months of 2026 compared to $360 million or $0.62 per share (basic and diluted) in the first three months of 2025, an increase of $45 million.
- Net income increased $19 million in the first three months of 2026 compared with the same period of 2025.
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| net_income | positive | realized | +1.1% | Earnings attributable to FE were $405 million or $0.70 per share (basic and diluted) in the first three months of 2026 compared to $360… |