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FirstEnergy (FE)
NYSE:FE
Holding FE?
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Earnings Data
Report Date
Feb 06, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.71Last Year’s EPS
$0.62Same Quarter Last Year
Moderate Buy
Based on 10 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 29, 2024
|% Change Since: -6.14%
|Next Earnings Date:Feb 06, 2025
Earnings Call Sentiment|Neutral
The earnings call reflected a mix of positive strategic investments and regulatory achievements, notably in Pennsylvania and planned capital investments, but was tempered by significant storm-related costs and challenges in Ohio's regulatory environment. While there are promising growth prospects, immediate financial impacts from storms and regulatory adjustments present hurdles.Company Guidance
During the FirstEnergy Corp. Q3 2024 earnings call, the company's executives provided updated guidance and detailed financial performance metrics. GAAP earnings from continuing operations were reported at $0.73 per share, compared to $0.74 in the same quarter of 2023, while operating earnings were $0.85 per share, down from $0.88 last year. The guidance range for 2024 operating earnings was narrowed to $2.61 to $2.71 per share from the previous $2.61 to $2.81 range. The company reaffirmed its 5-year capital expenditure plan of $26 billion through 2028 and a long-term annual operating earnings growth rate of 6% to 8%, underpinned by an average annual rate base growth of 9%. FirstEnergy also highlighted increased capital investments totaling $3.1 billion through the third quarter, a 22% rise compared to the first nine months of 2023, and adjusted its 2024 investment plan from $4.3 billion to $4.6 billion.Capital Investment Increase
FirstEnergy increased its 2024 investment plan from $4.3 billion to $4.6 billion, with over 70% in formula rate investments. This represents a 7% increase over their original budget and 24% more than what was invested in the full year of 2023.
Regulatory Success in Pennsylvania
A $225 million settlement was reached in Pennsylvania, providing for infrastructure improvements and customer assistance programs. The rate adjustment represents a 4.7% increase for residential customers, with new rates expected to take effect on January 1, 2025.
Transmission Expansion Plans
FirstEnergy submitted nearly $1 billion of individual projects to PJM, with a joint development agreement with Dominion Energy Virginia and American Electric Power proposing several new regional transmission projects totaling $3.8 billion.
Reaffirmation of Long-term Growth Rates
The company reaffirmed its 6% to 8% long-term annual operating earnings growth rate, driven by an average annual rate base growth of 9%.
Liquidity Position Enhancement
JCP&L's credit facility was increased by $250 million, enhancing FirstEnergy's total liquidity to approximately $6 billion.
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FE Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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FE Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 29, 2024 | $42.39 | $41.74 | -1.53% |
| Jul 30, 2024 | $40.96 | $41.06 | +0.24% |
| Apr 25, 2024 | $37.38 | $36.96 | -1.12% |
| Feb 08, 2024 | $34.69 | $36.16 | +4.24% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does FirstEnergy (FE) report earnings?
FirstEnergy (FE) is schdueled to report earning on Feb 06, 2025, TBA Not Confirmed.
What is FirstEnergy (FE) earnings time?
FirstEnergy (FE) earnings time is at Feb 06, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is FE EPS forecast?
FE EPS forecast for the fiscal quarter 2024 (Q4) is $0.71.
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