FirstEnergy Reports Strong Second Quarter 2026 Results, Reaffirms Earnings Guidance and Long-Term Growth Strategy

FirstEnergy Corp. (NYSE: FE) today reported second quarter 2026 GAAP earnings of $288 million, or $0.50 per basic and diluted share, on revenue of $3.7 billion. This compares to second quarter of 2025 GAAP earnings of $268 million, or $0 . 46 per basic and diluted share, on revenue of $3.4 billion. GAAP results include the impact of special items listed below.

Core Earnings (non-GAAP) for the second quarter of 2026 were $0.50 per share, in line with plan and compared to $0.52 per share in the second quarter of 2025. Results reflect continued implementation of FirstEnergy's regulated investment strategy, cost management and improved operations across the company's service territory.

The company's performance during the quarter was supported by FirstEnergy employees, who safely responded to significant heat and storms across portions of the organization's footprint, restoring power as quickly as possible and supporting impacted customers and communities throughout the recovery efforts.

FirstEnergy remains on track to achieve earnings growth near the top end of its targeted growth rate through 2030, driven by a robust capital investment plan, increasing customer demand and continued focus on operational and financial execution.

Outlook

FirstEnergy reaffirmed its 2026 Core Earnings guidance range of $2.62 to $2.82 per share, which is supported by the company's capital investment plan of $6 billion in 2026. The company deployed $2.9 billion in capital investments through the first half of 2026.

FirstEnergy's five-year, $36 billion Energize365 capital investment program will modernize the grid, renewing distribution infrastructure and strengthening transmission reliability while supporting long-term earnings growth. The plan represents an increase of nearly 30% compared with the company's previous five-year investment program.

Based on this plan, the company is reaffirming its long-term Core Earnings compound annual growth near the top end of 6% to 8% from 2026 to 2030.

FirstEnergy continues to see expanding opportunities across its service territory driven by increasing customer demand, economic development and the need for new electric infrastructure. The company believes these trends have the potential to meaningfully increase its long-term investment and earnings growth profile. These opportunities include accelerating demand from data center customers across the company's footprint and growing demand in West Virginia, where FirstEnergy is advancing the proposed Maidsville Energy Center while evaluating additional generation, transmission and distribution investments to support future growth. Together, these opportunities position the company to create long-term value for customers, communities and shareholders.

"Increasing customer demand continues to create significant incremental opportunities across our service territory," said Tierney. "I am pleased with the substantial growth in contracted data center demand since the first quarter and am excited about what we are seeing in West Virginia. As we thou...