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FirstEnergy (FE) investor relations material
FirstEnergy Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Delivered strong financial and operational performance in Q2 2026, with GAAP earnings of $288 million ($0.50 per share) and revenue of $3.68 billion, up from $268 million ($0.46 per share) and $3.4 billion in Q2 2025.
Five-year capital investment plan expanded to $36B for 2026–2030, targeting grid reliability, resiliency, and supporting surging data center demand, especially in West Virginia.
Significant growth opportunities from data center demand, with contracted and pipeline demand up 30% since Q1 and West Virginia demand up 137% to 4.3 GW.
Advancing regulatory strategies and major rate cases in Ohio, New Jersey, West Virginia, and Maryland to support investment and reliability.
Dividend increased by 4.5% to $0.465 per share, reflecting commitment to shareholder returns.
Financial highlights
Q2 2026 GAAP earnings of $0.50 per share, up from $0.46 in Q2 2025; Core earnings of $0.50 per share, down from $0.52 a year ago.
First half 2026 GAAP earnings were $693 million ($1.20 per share) on $7.88 billion revenue, up from $628 million ($1.09 per share) on $7.1 billion in 2025.
Core earnings for the first six months: $1.22 per share, up from $1.19 year-over-year.
Deployed $2.9B in capital through H1 2026, a 19% increase versus 2025.
Transmission rate base grew 14% year-over-year, with integrated segment up 22% and stand-alone up 11%.
Outlook and guidance
Reaffirmed 2026 Core EPS guidance of $2.62–$2.82 per share and long-term Core EPS CAGR near the top end of 6%-8% through 2030.
On track to deploy $6B in capital investments for 2026; $2.9B already deployed in H1.
Additional 1.5 GW of data center demand expected to be contracted in the next weeks, with most new load phased in by 2031.
Upside to CapEx plan expected from West Virginia generation and transmission investments, with incremental CapEx to be layered into future updates.
Management expects continued long-term investment opportunities in grid modernization and reliability.
- Registering up to $3B in securities for broad corporate use, with detailed risk and governance disclosures.FE
Registration filing - $3B shelf registration for diverse securities supports operations and growth amid broad risk factors.FE
Registration filing - Board elections, governance proposals, and solar expansion plans highlighted; voting results pending.FE
AGM 2026 - Q1 2026 Core EPS up 7.5%, revenue up 12%, and $36B investment plan reaffirmed.FE
Q1 2026 - Virtual annual meeting to vote on directors, auditor, pay, and independent chairman proposal.FE
Proxy filing - Core EPS up 7.6% to $2.55; $36B investment plan targets 10% rate base growth through 2030.FE
Q4 2025 - Core EPS up 19% YTD, capital investments surged, and guidance reaffirmed at the upper range.FE
Q2 2025 - Q3 2024 earnings met guidance; CapEx up 24%, growth targets and liquidity reaffirmed.FE
Q3 2024 - Q1 2025 Core EPS rose 37% year-over-year, with guidance and growth targets reaffirmed.FE
Q1 2025
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