8-KEarnings & ResultsExhibits & Filings

FIRSTENERGY CORP 8-K Report, Financial Results (May 3, 2007)

Filed May 3, 2007For Securities:FE

Summary

This Form 8-K filing by FirstEnergy Corp. on May 3, 2007, primarily concerns the release of financial information and updates regarding its operations. The company issued a Consolidated Report to the Financial Community, which includes a non-GAAP (Generally Accepted Accounting Principles) financial measure: normalized earnings per share. Management utilizes this normalized EPS to provide investors with a clearer view of ongoing operational performance by excluding "special items" that are not routine or related to discontinued businesses. This approach is intended to facilitate comparisons with both historical results and the performance of peer companies within the energy sector. Investors are advised to consider this non-GAAP measure in conjunction with, and not as a substitute for, GAAP-based financial figures, as it may not be comparable to similar measures used by other entities.

Key Highlights

  • 1FirstEnergy Corp. (FE) filed an 8-K on May 3, 2007.
  • 2The filing announces the issuance of a Consolidated Report to the Financial Community.
  • 3A key element of the report is the presentation of normalized earnings per share, a non-GAAP financial measure.
  • 4Normalized earnings per share excludes "special items" deemed non-routine or related to discontinued businesses.
  • 5Management believes this non-GAAP measure aids investors in assessing ongoing operational results and comparing performance to peers.
  • 6The report includes a reconciliation of the non-GAAP measure to the most directly comparable GAAP financial measure.
  • 7The filing also contains forward-looking statements discussing various risks and uncertainties.

Frequently Asked Questions

The main purpose of this 8-K filing is to announce the release of FirstEnergy Corp.'s Consolidated Report to the Financial Community, dated May 3, 2007, which includes financial performance information and a discussion of non-GAAP financial measures.

Normalized earnings per share is a non-GAAP financial measure that excludes 'special items' which are defined as events that are not routine or may be related to discontinued businesses. FirstEnergy presents this measure to help investors evaluate the company's ongoing business results and to compare its operating performance to that of other companies in the energy sector.

Investors should consider the non-GAAP financial information presented in addition to, but not as a substitute for, the most directly comparable GAAP financial measures. It's also important to note that this non-GAAP measure may not be comparable to similarly titled measures used by other companies.

Yes, the filing includes forward-looking statements based on management's current information. These statements are subject to risks and uncertainties, and actual results could differ materially. The company lists several factors that could impact future results, including competition, economic conditions, market prices, regulatory changes, and legal proceedings.