FirstEnergy Corp ( (FE) ) has released its Q1 earnings. Here is a breakdown of the information FirstEnergy Corp presented to its investors.
FirstEnergy Corp. is a major electric utility company operating in the United States, primarily engaged in the distribution and transmission of electricity across several states including Ohio, Pennsylvania, and New Jersey. The company is known for its extensive electric system and commitment to operational excellence.
In its first quarter of 2025, FirstEnergy Corp. reported a notable increase in earnings, with GAAP earnings rising to $0.62 per share and Core Earnings reaching $0.67 per share, compared to the previous year’s figures of $0.44 and $0.49 per share, respectively. This improvement is attributed to the company’s strategic execution and financial discipline.
Key financial highlights include a revenue increase to $3.8 billion from $3.3 billion in the first quarter of 2024, driven by new base rates in several states and higher customer demand. The company also made significant capital investments, exceeding $1 billion in the quarter, as part of its Energize365 program aimed at enhancing infrastructure.
Despite some challenges such as increased operating expenses and dilution from equity sales, FirstEnergy’s distribution and integrated segments showed strong performance, with increased earnings per share due to favorable rate adjustments and customer demand.
Looking ahead, FirstEnergy remains confident in achieving its 2025 Core Earnings guidance and maintaining a 6-8% annual growth rate through 2029, supported by its substantial capital investment plan. The company continues to focus on executing its strategic initiatives to ensure sustained growth and stability.