10-QPeriod: Q1 FY2026

FIRSTENERGY CORP Quarterly Report for Q1 Ended Mar 31, 2026

Filed April 28, 2026For Securities:FE

Summary

FirstEnergy Corp. reported strong financial results for the first quarter of 2026, with net income attributable to common shareholders increasing by 12.5% to $405 million, or $0.70 per diluted share, compared to $360 million, or $0.62 per diluted share, in the first quarter of 2025. This improvement was driven by higher revenues across all segments, particularly in Integrated and Stand-Alone Transmission, attributed to increased regulated capital investments and favorable weather conditions. The company also benefited from lower operating expenses, including the absence of certain severance costs from the prior year and reduced vegetation management expenses. FirstEnergy continues to execute its long-term investment strategy, "Energize365," with planned capital investments of $36 billion from 2026 to 2030, a 25% increase over its previous five-year plan. This investment is aimed at enhancing grid reliability, resiliency, and supporting growing customer demand, including investments in automation, advanced metering, and grid modernization. Financially, the company has maintained a strong position, supported by an increase in its quarterly cash dividend by $0.02 to $0.465 per share. While facing some economic uncertainties and supply chain considerations, FirstEnergy remains confident in its ability to fund its capital plan through a combination of organic cash flows and debt issuance.

Financial Highlights

45 data points
Beta

Revenue

$4.20B

Net Income

$405.00M

9.6% Net Margin

EPS (Diluted)

$0.70

Total Assets

$56.92B

Cash & Equivalents

$52.00M

Free Cash Flow

$148.00M

Financial Statements
Beta
Revenue$4.20B
Operating Expenses$3.37B
Operating Income$828.00M
Net Income$405.00M
EPS (Basic)$0.70
EPS (Diluted)$0.70
Shares Outstanding (Basic)578.00M
Shares Outstanding (Diluted)580.00M

Key Highlights

  • 1Net income attributable to FirstEnergy Corp. increased by 12.5% to $405 million for Q1 2026 compared to $360 million for Q1 2025.
  • 2Earnings per diluted share rose to $0.70 in Q1 2026 from $0.62 in Q1 2025.
  • 3Total revenues increased by 11.6% to $4.202 billion in Q1 2026, driven by growth across Distribution, Integrated, and Stand-Alone Transmission segments.
  • 4Capital investments increased to $1.372 billion in Q1 2026 from $1.093 billion in Q1 2025, reflecting progress on the Energize365 investment plan.
  • 5The company declared a quarterly cash dividend increase of $0.02 per share to $0.465, payable in June 2026.
  • 6FirstEnergy's financial position remains strong, with a positive outlook revision from Moody's and affirmation of its ratings.
  • 7The company is executing its "Energize365" investment plan with $36 billion in capital expenditures planned from 2026-2030.

Frequently Asked Questions

FirstEnergy reported a net income attributable to common shareholders of $405 million for the first quarter of 2026, an increase from $360 million reported in the first quarter of 2025. This represents a 12.5% increase year-over-year.

Revenue growth was driven by increases across all segments, particularly in the Integrated and Stand-Alone Transmission segments. This growth is attributed to higher regulated capital investments that expanded the rate base, and favorable weather conditions leading to increased customer usage and demand.

FirstEnergy plans to fund its Energize365 investment plan, totaling $36 billion from 2026 to 2030, through a combination of organic cash flows and the issuance of debt, including hybrid securities. The company may also issue common equity to fund capital expenditures, subject to market conditions.

Yes, FirstEnergy's Board declared a $0.02 per share increase to the quarterly cash common stock dividend, bringing it to $0.465 per share, payable in June 2026. This represents a 4.5% increase compared to dividends declared in 2025.