8-KEarnings & ResultsRegulation FDExhibits & Filings

FIRSTENERGY CORP 8-K Report, Financial Results (Apr 26, 2016)

Filed April 26, 2016For Securities:FE

Summary

This 8-K filing from FirstEnergy Corp. (FE) on April 26, 2016, primarily serves to announce the release of their first-quarter 2016 financial results and related information. The company has issued a press release and a consolidated report to the financial community, which contain both GAAP and non-GAAP financial measures. Investors should note that FirstEnergy utilizes several non-GAAP metrics, such as "Operating Earnings," "Adjusted Equity," "Adjusted Debt," and "Adjusted Capitalization," to provide management's perspective on performance and financial health, particularly concerning debt covenants. The filing also points to an accompanying slide presentation that will be used for a webcast earnings call scheduled for April 27, 2016. While the specific financial results are not detailed within this 8-K itself, the attached exhibits (Press Release and Consolidated Report) are the primary sources for that information. Investors are encouraged to review these exhibits and the upcoming webcast for a comprehensive understanding of FirstEnergy's first-quarter 2016 performance, strategic priorities, and outlook.

Key Highlights

  • 1FirstEnergy Corp. announced the release of its Q1 2016 financial results and related information on April 26, 2016.
  • 2The company issued a press release (Exhibit 99.1) and a Consolidated Report to the Financial Community (Exhibit 99.2) containing financial performance details.
  • 3The filing highlights the use of non-GAAP financial measures by FirstEnergy, including "Operating Earnings," "Adjusted Equity," "Adjusted Debt," and "Adjusted Capitalization."
  • 4Management utilizes these non-GAAP measures for performance evaluation, operational management, and to monitor compliance with debt covenants, such as the debt-to-total capitalization ratio.
  • 5The company will host an investor webcast earnings call on April 27, 2016, to discuss these results, accompanied by a slide presentation.
  • 6Specific financial figures for Q1 2016 are not detailed within this 8-K but are available in the referenced exhibits and the upcoming webcast.
  • 7The filing includes standard forward-looking statements outlining potential risks and uncertainties affecting the company's future performance.

Frequently Asked Questions

The main purpose of this 8-K filing is to inform investors that FirstEnergy Corp. has released its first-quarter 2016 financial results and related information through a press release and a consolidated report. It also provides details on the use of non-GAAP financial measures and announces an upcoming earnings webcast.

The specific Q1 2016 financial results are not detailed within this 8-K filing itself. They are contained in the attached exhibits: the Press Release (Exhibit 99.1) and the Consolidated Report to the Financial Community (Exhibit 99.2). These documents, along with the company's investor relations website, are the best sources for detailed financial data.

Non-GAAP financial measures are financial metrics that are not calculated in accordance with Generally Accepted Accounting Principles (GAAP). FirstEnergy uses measures like 'Operating Earnings' to exclude 'special items' and provide a view of performance that management believes is more consistent and comparable over time. They also use measures like 'Adjusted Equity' and 'Adjusted Debt' to monitor compliance with financial covenants, which can be helpful for investors to understand the company's financial leverage and operational performance.

FirstEnergy Corp. scheduled an investor webcast earnings call for April 27, 2016, at 9:00 a.m. EDT. A slide presentation accompanied this call, which would have been posted to the company's Investor Information website at www.firstenergycorp.com/ir.