8-KEarnings & ResultsExhibits & Filings

FIRSTENERGY CORP 8-K Report, Financial Results (May 7, 2013)

Filed May 7, 2013For Securities:FE

Summary

FirstEnergy Corp. (FE) filed an 8-K on May 7, 2013, to report on its first quarter 2013 financial results. The filing primarily directs investors to a press release and a consolidated report to the financial community for detailed information, both of which contain non-GAAP financial measures. The company emphasizes that these non-GAAP figures, particularly 'basic non-GAAP earnings per share,' are presented to provide a clearer view of ongoing operational performance by excluding 'special items' such as impacts from discontinued businesses or non-routine events. Management believes this normalized view is valuable for investors assessing the company's core business and for comparing its performance against peers in the energy sector. While the 8-K itself doesn't provide the specific Q1 2013 financial figures, it clarifies the company's methodology for presenting earnings, highlighting the use of adjusted figures. Investors are advised to consider these non-GAAP measures alongside the most directly comparable GAAP figures and to note that these adjusted metrics may not be universally comparable across different companies. The filing also includes standard forward-looking statements, outlining various business risks and uncertainties that could impact future results.

Key Highlights

  • 1FirstEnergy Corp. issued an 8-K on May 7, 2013, announcing Q1 2013 earnings results.
  • 2The report directs investors to an attached press release and consolidated financial report for specific Q1 results.
  • 3The company utilizes non-GAAP financial measures, notably 'basic non-GAAP earnings per share,' to present performance.
  • 4These non-GAAP measures exclude 'special items' to offer a view of ongoing operational performance.
  • 5Management believes these normalized earnings provide useful insights for investors and for peer comparison.
  • 6Investors are cautioned that non-GAAP measures should be considered in addition to, not as a substitute for, GAAP measures.
  • 7The filing contains standard forward-looking statements detailing potential business risks and uncertainties.

Frequently Asked Questions

The main purpose of this 8-K filing from May 7, 2013, is to officially report FirstEnergy Corp.'s first quarter 2013 financial results and provide investors with access to the accompanying press release and consolidated report to the financial community.

Special items are defined as impacts on earnings from events that are not routine or may be related to discontinued businesses. FirstEnergy excludes these items when calculating its 'basic non-GAAP earnings per share' to present a view of the company's ongoing operational performance, which management believes is more useful for investors in assessing core business results and comparing performance to peers.

The filing states that non-GAAP measures should be considered in addition to, and not as a substitute for, GAAP measures. While management believes they offer useful insights into normalized operating performance, investors should use them cautiously, understanding they may not be directly comparable to similar measures used by other companies and that GAAP figures provide the official accounting basis.

The specific Q1 2013 financial results and detailed figures are not presented directly within the 8-K filing itself. Instead, the filing incorporates by reference Exhibits 99.1 (Press Release) and 99.2 (Consolidated Report to the Financial Community), which contain the detailed financial information and non-GAAP reconciliations.