8-KEarnings & ResultsExhibits & Filings

FIRSTENERGY CORP 8-K Report, Financial Results (Nov 8, 2012)

Filed November 8, 2012For Securities:FE

Summary

This 8-K filing from FirstEnergy Corp. (FE) on November 8, 2012, primarily serves to report the company's third-quarter 2012 financial results. The company has provided investors with a Press Release and a Consolidated Report to the Financial Community, which are attached as exhibits. A key aspect of this report is the company's use of non-GAAP financial measures, specifically highlighting "basic non-GAAP earnings per share," which excludes "special items." FirstEnergy management asserts that these non-GAAP measures offer a clearer view of ongoing operational performance and aid in comparisons with industry peers, though investors are cautioned that these measures may not be comparable to similar metrics used by other companies and should be considered alongside, not as a substitute for, GAAP measures.

Key Highlights

  • 1FirstEnergy Corp. has filed an 8-K report to disclose its third-quarter 2012 financial results.
  • 2The company issued a Press Release and a Consolidated Report to the Financial Community on November 8, 2012, detailing these results.
  • 3These reports include non-GAAP financial measures, such as basic non-GAAP earnings per share, which exclude "special items."
  • 4Management believes these non-GAAP measures provide a better assessment of ongoing operational performance and facilitate peer comparisons.
  • 5Investors are advised that non-GAAP measures are not a substitute for GAAP financial measures and may not be comparable across different companies.
  • 6The filing incorporates by reference the attached Exhibits 99.1 (Press Release) and 99.2 (Consolidated Report).

Frequently Asked Questions

The main purpose of this 8-K filing is to announce and provide details on FirstEnergy Corp.'s financial results for the third quarter of 2012. It includes press releases and financial reports disseminated by the company.

"Special items" are defined as events that are not routine or that may be related to discontinued businesses. FirstEnergy excludes these items when calculating its non-GAAP earnings per share.

FirstEnergy uses non-GAAP financial measures because management believes they provide useful information to investors in evaluating the ongoing results of the company's businesses and assist in comparing its operating performance to that of other companies in the energy sector.

The filing includes a comprehensive list of forward-looking statements and potential risks, which encompass increased competition, regulatory processes, cost recovery issues, economic and weather conditions, changing energy market prices, financial derivative reforms, environmental regulations, capital expenditure uncertainties, operational changes at generating units, issues with nuclear operations, legal decisions, and changes in customer demand, among others.