01—Abstract
Summary
Summary of the 10-K/A filed March 6, 2019. Cited figures are marked; the original filing is the authoritative source.
FirstEnergy Corp. (FE) filed its 2018 10-K on March 6, 2019, presenting its annual financial performance and operational overview.
For investors, key takeaways include the company's revenue generation, operational expenses, and its capital structure. The filing also details the company's regulatory environment, which significantly impacts its earnings potential and investment decisions. Understanding FE's strategy for managing its regulated and competitive businesses, alongside its approach to infrastructure investment and dividend policy, is crucial for assessing its future prospects.
Investors should pay close attention to the company's debt levels and its ability to service that debt, as well as any commentary on future earnings guidance or significant capital expenditures. The company's disclosures around environmental, social, and governance (ESG) factors are also becoming increasingly important for long-term investment evaluation. This report provides the foundational data to understand FE's financial health and strategic direction as of the end of 2018.
02—Key points
Key Highlights
- The 10-K filing includes standard certifications from the CEO and CFO, attesting to the accuracy of the financial reporting.
- It confirms the engagement of an Independent Registered Public Accounting Firm, indicating standard audit procedures were followed.
- The filing is part of an amendment, suggesting potential updates or corrections to previously submitted information.
- Exhibit 31-1 and 31-2 relate to the internal control over financial reporting certifications.
- Exhibit 23 provides the consent of the independent auditors, a routine but essential part of the filing.
- The provided excerpt focuses primarily on the exhibit list and related documentation, rather than detailed financial performance metrics.
- Investors would need to consult other sections of the full 10-K to find detailed financial statements, management's discussion and analysis, and risk factors.
03—One dollar
04—Financials
Financial Highlights
Figures from 10-K/AFY2018filed March 6, 2019Financial Statements
FY2018 against FY2017
| Line item | FY2018FY2017 | Change |
|---|---|---|
| Revenue | $11.26B$10.93B | +3.0% |
| Operating Expenses | $8.76B$8.50B | +3.0% |
| Operating Income | $2.50B$2.43B | +3.0% |
| Interest Expense | $1.12B$1.00B | +11.0% |
| Net Income | $1.35B-$1.72B | +178.2% |
| EPS (Basic) | $1.99$-3.88 | +151.3% |
| EPS (Diluted) | $1.99$-3.88 | +151.3% |
| Shares Outstanding (Basic) | 492.00M444.00M | +10.8% |
| Shares Outstanding (Diluted) | 494.00M444.00M | +11.3% |
05—Questions
Frequently Asked Questions
What is the significance of the exhibits listed in Item 15?
The exhibits listed are crucial supplementary documents. The Consent of Independent Registered Public Accounting Firm (Exhibit 23) assures investors that the auditors agree with the financial statements presented. The CEO and CFO Certifications (Exhibits 31-1 and 31-2) provide assurance on the reliability of the company's financial reporting and internal controls.
Does this excerpt provide detailed financial performance data for FirstEnergy Corp.?
No, this specific excerpt from Item 15 focuses on the list of exhibits filed with the 10-K. It does not contain the detailed financial statements, Management's Discussion and Analysis (MD&A), or the quantitative performance metrics that investors would typically analyze.
What does it mean that this filing is an 'Amendment'?
An amendment to a filing (indicated by 'Amendment' in the filing title or description) means that FirstEnergy Corp. is making changes or additions to a previously submitted report. This could be to correct errors, provide updated information, or comply with new SEC requirements. Investors should review the amendment carefully to understand what has changed from the original filing.
06—Continue