8-K/AEarnings & ResultsExhibits & Filings

FIRSTENERGY CORP 8-K/A Report, Financial Results (Nov 8, 2013)

Filed November 8, 2013For Securities:FE

Summary

FirstEnergy Corp. filed an 8-K on November 8, 2013, to report on its third quarter 2013 financial results. The filing primarily serves to incorporate by reference the information contained in two public documents released on November 5, 2013: a Press Release and a Consolidated Report to the Financial Community. These documents detail the company's third quarter earnings and provide reconciliations for non-GAAP financial measures, specifically "Operating earnings," which management uses to evaluate performance and facilitate comparisons. Investors should note that these non-GAAP measures are presented to complement, not replace, GAAP measures and may not be directly comparable to similar measures used by other companies.

Key Highlights

  • 1The 8-K filing on November 8, 2013, pertains to FirstEnergy's third quarter 2013 financial results.
  • 2Key financial details are provided through attached exhibits: a Press Release (Exhibit 99.1) and a Consolidated Report to the Financial Community (Exhibit 99.2), both dated November 5, 2013.
  • 3The filing explicitly states that the information in this 8-K, including the exhibits, is not deemed "filed" for purposes of the Securities Exchange Act of 1934, unless expressly incorporated by reference in another filing.
  • 4FirstEnergy utilizes non-GAAP financial measures, notably "Operating earnings," to assess operational performance and trends.
  • 5The company provides quantitative reconciliations of its non-GAAP "Operating earnings" to the most directly comparable GAAP financial measures, as required by Regulation G and Regulation S-K.
  • 6Management views "Operating earnings" (previously "normalized Non-GAAP earnings") as a consistent and comparable measure of business performance for shareholders.
  • 7These non-GAAP measures are intended to supplement, not substitute, the primary GAAP financial results.

Frequently Asked Questions

This 8-K filing serves to officially report FirstEnergy's third quarter 2013 results of operations and financial condition by incorporating two public documents released on November 5, 2013: a press release and a consolidated report to the financial community. It ensures these earnings details are a matter of public record.

"Operating earnings" are a non-GAAP financial measure that excludes the impact of "special items." FirstEnergy's management uses this measure to evaluate the company's performance and manage its operations, believing it provides a more consistent and comparable view of performance trends for investors than GAAP measures alone.

FirstEnergy explicitly states that its non-GAAP financial measures, including "Operating earnings," may not be comparable to similarly titled measures used by other entities. Investors should carefully review the reconciliations provided to understand the specific adjustments made.

No, the filing states that the information in this 8-K and its attached exhibits (Press Release and Consolidated Report) shall not be deemed 'filed' for purposes of the Securities Exchange Act of 1934, unless expressly incorporated by specific reference into another SEC filing. This limits certain liabilities associated with 'filed' information.