FirstEnergy Corp ( (FE) ) has released its Q3 earnings. Here is a breakdown of the information FirstEnergy Corp presented to its investors.
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FirstEnergy Corp. is a major electric utility company based in Akron, Ohio, serving over 6 million customers across several states and operating an extensive network of transmission lines.
In its latest earnings report, FirstEnergy Corp. announced third-quarter GAAP earnings of $441 million, or $0.76 per share, on revenue of $4.1 billion, showing an increase from the previous year. The company also reported Core Earnings of $0.83 per share for the third quarter, marking a 9% improvement from the same period in 2024.
Key highlights from the report include a narrowed full-year Core Earnings guidance range of $2.50 to $2.56 per share, reflecting confidence in the company’s financial performance. FirstEnergy has also increased its 2025 capital investment program by 10% to $5.5 billion, focusing on enhancing grid reliability and resilience. The company projects a 30% increase in future transmission investments, driven by industry transformation and the growing demand from large data centers.
FirstEnergy’s strategic initiatives are supported by its Energize365 capital investment plan, which outlines $28 billion in investments from 2025 to 2029. The company aims to achieve a 6-8% compounded annual Core Earnings growth rate through 2029, leveraging its strategic position in the PJM region to support industry changes.
Looking ahead, FirstEnergy remains committed to its growth strategy, with a focus on enhancing energy service reliability and supporting community and company growth. The company is well-positioned to continue its significant investments in infrastructure and transmission systems to meet future demands.