FirstEnergy core earnings rise to $0.98 a share, outlook reaffirmed

FirstEnergy reported third-quarter GAAP earnings of $0.96 per share, up from $0.76 a year earlier, and reaffirmed its 2026 outlook, according to its earnings release filed with an 8-K.

The Ohio-based electric utility posted net income of $557 million. Core earnings, which exclude certain special items, were $0.98 per share, compared with $0.83 in the third quarter of 2025. Revenue rose to $4.6 billion from $4.1 billion.

On track for the year

Year-to-date core earnings were $2.20 per share, up 9%, according to the release. FirstEnergy reaffirmed its 2026 core earnings guidance of $2.62 to $2.82 per share and said it expects results at or slightly above the midpoint.

The company also reaffirmed a long-term core earnings growth rate of 6% to 8% a year, saying it expects to be near the top end of that range through 2030.

A $36 billion investment plan

FirstEnergy is executing a five-year capital plan of $36 billion, the release said. For regulated utilities, capital spending largely drives future earnings, because utilities earn an allowed return on the assets they build.

Why it matters

Utilities across the country are planning heavy investment to keep up with rising electricity demand, including from data centers. FirstEnergy's confidence in hitting the upper end of its long-term growth range suggests it sees that demand translating into earnings.

Investors will watch for updates on regulatory proceedings and rate cases in its operating states, which determine how quickly that investment can be recovered from customers.

Sources

1. FirstEnergy Corp. Form 8-K with third-quarter 2026 results, filed Oct. 27, 2026 (accession 0001031296-26-000142)

This article is for informational and educational purposes only and is not investment advice. It is not a recommendation to buy or sell any security.

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