01—Abstract
Summary
Summary of the 10-Q filed April 28, 2026. Cited figures are marked; the original filing is the authoritative source.
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 milliona, 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 billionb 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 $0.465c 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.
02—Key points
Key Highlights
- Net income attributable to FirstEnergy Corp. increased by 12.5% to $405 million for Q1 2026 compared to $360 million for Q1 2025.
- Earnings per diluted share rose to $0.70 in Q1 2026 from $0.62 in Q1 2025.
- Total revenues increased by 11.6% to $4.202 billion in Q1 2026, driven by growth across Distribution, Integrated, and Stand-Alone Transmission segments.
- Capital investments increased to $1.372 billion in Q1 2026 from $1.093 billion in Q1 2025, reflecting progress on the Energize365 investment plan.
- The company declared a quarterly cash dividend increase of $0.02 per share to $0.465, payable in June 2026.
- FirstEnergy's financial position remains strong, with a positive outlook revision from Moody's and affirmation of its ratings.
- The company is executing its "Energize365" investment plan with $36 billion in capital expenditures planned from 2026-2030.
03—One dollar
04—Financials
Financial Highlights
Figures from 10-QQ1 FY2026filed April 28, 2026Financial Statements
Q1 FY2026 against Q1 FY2025
| Line item | Q1 FY2026Q1 FY2025 | Change |
|---|---|---|
| Revenue | $4.20B$3.77B | +11.6% |
| Operating Expenses | $3.37B$3.01B | +12.1% |
| Operating Income | $828.00M$754.00M | +9.8% |
| Net Income | $405.00M$360.00M | +12.5% |
| EPS (Basic) | $0.70$0.62 | +12.9% |
| EPS (Diluted) | $0.70$0.62 | +12.9% |
| Shares Outstanding (Basic) | 578.00M577.00M | +0.2% |
| Shares Outstanding (Diluted) | 580.00M578.00M | +0.3% |
05—Questions
Frequently Asked Questions
What was FirstEnergy's net income for the first quarter of 2026 and how does it compare to the prior year?
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.
What is driving the revenue growth for FirstEnergy?
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.
How is FirstEnergy funding its Energize365 investment plan?
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.
Did FirstEnergy increase its dividend, and if so, by how much?
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.
06—Continue