8-KEarnings & ResultsRegulation FDExhibits & Filings

FIRSTENERGY CORP 8-K Report, Financial Results (Apr 25, 2024)

Filed April 25, 2024For Securities:FE

Summary

FirstEnergy Corp. (FE) filed an 8-K on April 25, 2024, to report its financial results for the first quarter of 2024. The filing includes a press release announcing these results and providing forward-looking guidance. The company emphasized its use of non-GAAP financial measures, asserting they offer a more consistent and comparable view of performance by excluding certain items that may vary period-over-period or across industry peers. Investors should note that the information provided in this 8-K is furnished and not deemed "filed" for regulatory purposes, meaning it does not carry the same legal implications as a standard filing. The company also made available its "1Q 2024 Strategic and Financial Highlights" on its investor relations website, which investors are encouraged to review for a more comprehensive understanding of the company's performance and strategic direction. The filing also reiterates extensive forward-looking statements and associated risks, which are crucial for investors to consider when evaluating the company's future prospects.

Key Highlights

  • 1FirstEnergy Corp. announced its financial results for the three months ended March 31, 2024.
  • 2The company provided earnings guidance for the second quarter of 2024.
  • 3FirstEnergy affirmed its full-year 2024 operating (non-GAAP) earnings guidance.
  • 4The report highlights the company's use of non-GAAP financial measures for performance evaluation and comparability.
  • 5Reconciliations of non-GAAP measures to GAAP are available on page four of the press release (Exhibit 99.1).
  • 6Additional strategic and financial highlights for Q1 2024 were made available on the company's investor relations website (Exhibit 99.2).
  • 7The information furnished in this 8-K is not considered 'filed' for certain regulatory purposes.

Frequently Asked Questions

This 8-K filing is primarily to announce FirstEnergy Corp.'s financial results for the first quarter of 2024, provide updated earnings guidance for the second quarter, and reaffirm its full-year 2024 operating earnings guidance. It also includes supplementary financial and strategic highlights.

FirstEnergy presents financial information using both U.S. Generally Accepted Accounting Principles (GAAP) and non-GAAP measures. The company states that management uses non-GAAP measures for evaluating performance and making operational decisions, believing they offer a more consistent and comparable view.

Beyond the press release attached as Exhibit 99.1, FirstEnergy also made available its '1Q 2024 Strategic and Financial Highlights' as Exhibit 99.2. This additional information can be accessed on the 'Investor Relations' section of the company's website.

When information is "furnished" under Items 2.02 and 7.01 of Form 8-K, it generally means the information is being provided to the SEC but is not subject to the same liability provisions under Section 18 of the Securities Exchange Act of 1934 as information that is formally "filed." It also means it is not automatically incorporated into other SEC filings unless expressly stated.