FirstEnergy Q3 revenue beats analyst estimates; confirms FY core earnings guidance

FirstEnergy

27/10/2026 20:36

Overview
U.S. electric utility's Q3 revenue rose and beat analyst expectations
Core EPS for Q3 increased and beat analyst expectations
Company reaffirmed 2026 Core EPS guidance and highlighted grid modernization investments

Outlook
FirstEnergy reaffirms 2026 Core Earnings guidance of $2.62-$2.82 per share, sees results at or above midpoint
Company maintains Core Earnings CAGR near top end of 6%-8% through 2030
FirstEnergy expects at least 25% increase in 2027–2031 transmission investment plan from current $19 bln plan

Result Drivers
INVESTMENT STRATEGY - Co said continued implementation of its investment strategy contributed to improved results
GRID MODERNIZATION - Co attributed growth to its $36 bln, five-year Energize365 capital investment plan to modernize the grid and renew infrastructure
INCREASED DEMAND - Co said growing electricity demand and contracted load from large customers are driving opportunities for additional transmission investment

Company press release: ID:nPn5zrPKja

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Beat
$4.60 bln
$4.25 bln (6 Analysts)
Q3 Core EPS
Beat
$0.98
$0.90 (11 Analysts)
Q3 EPS
 
$0.96
 
Q3 Net Income
 
$557 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 11 "strong buy" or "buy", 7 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the electric utilities peer group is "buy"
Wall Street's median 12-month price target for FirstEnergy Corp is $50.00, about 8.3% above its October 26 closing price of $46.18
The stock recently traded at 16 times the next 12-month earnings vs. a P/E of 17 three months ago

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Oct 27 - World to add less clean energy capacity this year, renewables agency chief says

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)