Analyst Report: FirstEnergy Corp

4 hours ago 3

Argus

•

May 01, 2026

FirstEnergy Corp.: Long-term halfway EPS CAGR expected adjacent the apical extremity of 6%-8%

Summary

FirstEnergy is an electrical institution based successful Akron, Ohio. It is 1 of the nation's larger investor-owned electrical systems, with 10 regulated subsidiaries. The institution has tiny regulated generating capacity, nether 4,000 MW. FE's absorption is connected transmission and distribution; however, the institution has been selling portions of its transmission business. As of the opening of 2026, astir 21% of its complaint basal was stand-alone transmission. The institution serves implicit 6 cardinal customers, consisting of 2.3 cardinal successful Ohio, 1.8 cardinal successful Pennsylvania, and 2 cardinal much successful West Virginia, Maryland, and New Jersey. About 63% of customers are commercial/industrial.

Consolidated revenues successful 2025 topped $15 billion, with Regulated Distribution accounting for 50% and Stand-Alone Transmission accounting for 12%. Integrated inferior operations accounted for the remainder. The institution converted to reporting halfway net versus operating net astatine year-end 2024, and past results had been restated each quarter.

FirstEnergy focuses connected the organisation of energy and has tiny generating capableness that is reliant connected ember generation. Small generating capableness tin marque companies susceptible to wholesale terms flu