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FirstEnergy 8-K Report, Financial Results (Jul 28, 2026)

Reports
Earnings & Results·Regulation FD·Exhibits & Filings
Filing Date
Filed July 28, 2026
Period End
July 28, 2026
Security
FE
In the record · 2016–202610-K1310-Q338-K179

FE filed 13 annual reports (10-K), 33 quarterly reports (10-Q) and 179 current reports (8-K) between 2016 and 2026.

  1. Leadership change8-K · Sep ’17Sep ’17
  2. Material agreement8-K · Sep ’19Sep ’19
  3. Material agreement8-K · Nov ’21Nov ’21
  4. Leadership change8-K · Sep ’25Sep ’25

01—Abstract

Summary

Summary of the 8-K filed July 28, 2026. Cited figures are marked; the original filing is the authoritative source.

FirstEnergy reported second-quarter 2026 GAAP earnings of $288 milliona, or $0.50 per share, up from $268 million, or $0.46, a year earlier.

Revenue rose to $3.7 billionb from $3.4 billion. Core Earnings (non-GAAP) were also $0.50 per share, in line with plan but down from $0.52 in the second quarter of 2025. The decline came mainly from the Distribution segment (down $0.06), driven by planned maintenance expenses that management says will reverse in the second half of 2026.

The Integrated segment was flat, and Stand-Alone Transmission rose $0.04c on 11% transmission rate base growth. For the first half, GAAP EPS was $1.20 and Core EPS was $1.22, compared with $1.09 and $1.19 a year earlier. Management reaffirmed 2026 Core EPS guidance of $2.62 to $2.82 per share and expects long-term Core EPS compound annual growth near the top of its 6% to 8% target range for 2026 through 2030.

That outlook rests on a five-year, $36 billiond Energize365 investment plan, about 30% larger than the prior plan, with $6 billion planned for 2026 and $2.9 billion deployed through June. The company reports a trailing-twelve-month consolidated ROE of 9.5%, within its 9.5% to 10% target, and says about 75% of projected investments earn returns through formula-rate recovery. The main growth catalyst is data center demand.

Total pipeline and contracted demand reached 24.8 GW, up about 30% since the first quarter, and contracted demand reached 6.4 GW, up about 50%. West Virginia demand rose 137% to 4.3 GW, and FirstEnergy is evaluating new generation there, including the proposed 1.2 GW Maidsville gas plant.

Investors should watch near-term regulatory milestones, including West Virginia rate and CPCN orders, New Jersey and Maryland base rate filings expected in the third quarter, and PJM Open Window proposals due September 21, 2026. Because this filing is dated July 28, 2026, the timing of these items should be checked against later disclosures.

02—Key points

Key Highlights

  1. Q2 2026 GAAP EPS of $0.50 ($288M net income) vs. $0.46 in Q2 2025; Core EPS of $0.50 vs. $0.52, in line with plan. Special items were net zero in the quarter.
  2. H1 2026 GAAP EPS of $1.20 and Core EPS of $1.22, up from $1.19 in H1 2025. Revenue for H1 was $7.9B vs. $7.1B.
  3. 2026 Core EPS guidance of $2.62 to $2.82 reaffirmed; long-term Core EPS CAGR target of near the top of 6% to 8% (2026-2030) reaffirmed.
  4. Five-year Energize365 plan of $36B (about 30% above the prior plan), with a planned $6B of 2026 capital investment and $2.9B deployed through June 30, 2026. Management cites roughly 10% rate base CAGR.
  5. Data center demand (pipeline plus contracted) of 24.8 GW, up about 30% since Q1 2026; contracted demand of 6.4 GW, up about 50%. Management expects 1.5 GW more to be contracted within about two weeks of the filing.
  6. West Virginia data center demand rose 137% to 4.3 GW, supporting the proposed Maidsville Energy Center (1.2 GW gas CCGT) and a CPCN order expected in 2H26.
  7. Q2 Distribution Core EPS fell $0.06 on planned maintenance timing; TTM consolidated ROE of 9.5% and a targeted 60% to 70% payout ratio of Core EPS. Ratings remain investment grade at all three agencies.

03—Questions

Frequently Asked Questions

  1. Did FirstEnergy meet expectations in Q2 2026?

    Yes. Management said Q2 Core EPS of $0.50 was in line with plan, although it was down from $0.52 a year earlier. The decline was mainly from Distribution (down $0.06), due to planned maintenance expenses that management expects to reverse in the second half of 2026. GAAP EPS was $0.50, with no net special items in the quarter.

  2. Is FirstEnergy still on track for its 2026 earnings guidance?

    Management reaffirmed 2026 Core EPS guidance of $2.62 to $2.82 per share. It said first-half Core EPS of $1.22 is in line with plan and that the 2026 capital plan of $6 billion is on track, with $2.9 billion deployed through June 30. The company also expects to make up Q2 and first-half maintenance expense timing in the second half of the year.

  3. What is driving FirstEnergy's long-term growth outlook?

    The main drivers are the $36 billion Energize365 five-year investment plan (2026-2030) and rising customer demand, especially from data centers. Pipeline and contracted data center demand reached 24.8 GW, and West Virginia demand rose 137% to 4.3 GW. Management also said about 75% of projected investments will be recovered through formula rates, which should reduce regulatory lag. Future results depend on regulatory approvals, the timing of contracts, and execution.

  4. What near-term events should investors watch?

    The filing lists several near-term items: a West Virginia Inflation and Investment Adjustment order expected by the end of July 2026, a West Virginia CPCN order expected in the second half of 2026, base rate case filings in New Jersey and Maryland expected in the third quarter of 2026, and PJM 2026 Open Window proposals due September 21, 2026. Since the filing is dated July 28, 2026, investors should check whether these have already occurred and what they decided.

04—Continue

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