Financial Data and Key Metrics Changes - In 2025, the company reported GAAP earnings of $1.77 per share, an increase from $1.70 per share in 2024 [6] - Core earnings were $2.55 per share, representing a 7.6% increase compared to 2024 and at the top end of the revised guidance range [6][17] - The return on equity for 2025 was 9.8% on a rate base of $27.8 billion, compared to 9.4% on $25.6 billion in 2024 [17] Business Line Data and Key Metrics Changes - The company deployed $5.6 billion in customer-focused capital investments in 2025, a nearly 25% increase from the previous year [6][18] - Distribution reliability metrics improved by 10% across the system compared to 2024, with notable improvements in New Jersey and Pennsylvania [7] Market Data and Key Metrics Changes - The company anticipates a compounded annual growth rate (CAGR) of core earnings near the top end of 6%-8% from 2026 to 2030 [5][22] - The updated capital investment plan includes $19 billion in total transmission investments, a 35% increase from the previous plan [8][22] Company Strategy and Development Direction - The company announced a $36 billion, 5-year capital investment program aimed at improving customer reliability and grid resiliency [5][8] - The strategy focuses on prioritizing investments for customers while maintaining affordability and meeting regulatory requirements [8][12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to deliver on its commitments and maintain affordability for customers [14][27] - The company is actively addressing affordability concerns, with customer bills expected to remain below the current rates of in-state peers by 2030 [12][14] Other Important Information - The company has a financing plan that includes $16 billion in new long-term debt issuances and up to $2 billion in equity needs over the next five years [26] - The company is exploring various options to fund its equity needs, including hybrid instruments [26] Q&A Session Summary Question: Incremental financing associated with West Virginia investment - Management indicated that cash recovery will help significantly, targeting 15% of the total investment, with 50% funded by a Department of Energy loan and the remainder likely being new equity [32] Question: Impact of increased CapEx on earned returns in Pennsylvania - Management noted that the focus in Pennsylvania has been on incremental investment in the distribution system to drive reliability improvements, with plans to file for rate increases as needed [35] Question: Approval process for West Virginia project - Management clarified that the approval needed includes a certificate of need and public necessity, with expectations for a procedural schedule within the next month [73] Question: Execution capabilities for the $36 billion CapEx plan - Management expressed confidence in their ability to deliver on the plan, citing strong relationships with contractors and suppliers [61][62] Question: Affordability-driven legislation impacts - Management is actively engaging with jurisdictions to address affordability concerns and is well-positioned relative to peers [66][67]

FirstEnergy (NYSE:FE) Q4 2025 Earnings call February 18, 2026 09:00 AM ET Speaker9Hello, and welcome to FirstEnergy Corp.'s fourth quarter 2025 earnings call. As a reminder, this conference is being recorded. It's now my pleasure to turn the call over to Karen Sagot, Vice President of Investor Relations. Please go ahead, Karen.Speaker7Thank you. Good morning, everyone, and welcome to FirstEnergy's year-end 2025 earnings review. Our earnings release, presentation slides, and related financial information are ...

Focused on Our Future 4Q 2025 Strategic & Financial Highlights Published February 17, 2026 Forward-Looking Statements Forward-Looking Statements: This presentation includes forward-looking statements based on information currently available to management and unless the context requires otherwise, references to "we," "us," "our" and "FirstEnergy" refers to FirstEnergy Corp. and its subsidiaries. Such statements are subject to certain risks and uncertainties and readers are cautioned not to place undue relian ...

Core Insights - The company delivered a 2025 core EPS of $2.55, achieving the top of the guidance range due to new base rates, formula rate investments, and a 3% increase in residential demand [1] - A $36 billion five-year capital program was launched, representing a 30% increase over the previous plan, aimed at driving a 10% rate base CAGR through 2030 [1] - The company prioritized transmission infrastructure, allocating $19 billion to address aging assets, with 70% of lines expected to reach end-of-life within a decade [1] - A credit rating upgrade to BBB was achieved at S&P following positive regulatory outcomes in Ohio and an improved financial foundation [1] - The company maintained strict cost discipline, achieving over $200 million in baseline O&M savings since 2022 to mitigate the impact of capital investments on customer bills [1] - A 10% improvement in distribution reliability metrics was leveraged, particularly in New Jersey and Pennsylvania, validating the effectiveness of commission-approved investment programs [1]

For the FISCAL YEAR ended December 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________________ to ___________________ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | Commission I.R.S. Employer | Registrants; | | | | | | --- | --- | --- | --- | --- | --- | | File Number Identification ...

Core Viewpoint - FirstEnergy reported quarterly earnings of $0.53 per share, exceeding the Zacks Consensus Estimate of $0.52 per share, but down from $0.67 per share a year ago, indicating an earnings surprise of +1.92% [1] Financial Performance - The company posted revenues of $3.8 billion for the quarter ended December 2025, surpassing the Zacks Consensus Estimate by 16.94%, compared to $3.18 billion in the same quarter last year [2] - Over the last four quarters, FirstEnergy has exceeded consensus EPS estimates four times and topped revenue estimates three times [2] Stock Performance - FirstEnergy shares have increased by approximately 11.9% since the beginning of the year, while the S&P 500 has declined by 0.1% [3] - The stock currently holds a Zacks Rank 2 (Buy), indicating expectations of outperforming the market in the near future [6] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.71 on revenues of $3.87 billion, and for the current fiscal year, it is $2.71 on revenues of $14.99 billion [7] - The trend of estimate revisions for FirstEnergy was favorable ahead of the earnings release, which may influence future stock movements [5][6] Industry Context - The Utility - Electric Power industry, to which FirstEnergy belongs, is currently ranked in the top 36% of over 250 Zacks industries, suggesting a positive outlook for stocks within this sector [8]

Core Insights - FirstEnergy announced a capital investment plan of $36 billion through 2030, indicating a strong commitment to infrastructure and growth in the utility sector [1] - The company reported a 4.3% increase in full-year profit, attributed to higher electricity rates, reflecting positive financial performance [1] Investment Plan - The capital investment plan of $36 billion is set to be executed by 2030, showcasing FirstEnergy's long-term strategy for development and modernization [1] Financial Performance - FirstEnergy's full-year profit rose by 4.3%, driven by increased electricity rates, which suggests a favorable market environment for utility companies [1]

proceedings, arbitration, mediation and similar proceedings; changes in national and regional economic conditions, including recession, volatile interest rates, inflationary pressure, supply chain disruptions, higher fuel costs, and workforce impacts, affecting us and/or our customers and the vendors with which we do business; variations in weather, such as mild seasonal weather variations and severe weather conditions (including events caused, or exacerbated, by climate change, such as wildfires, hurricane ...

Core Insights - The joint venture between Transource Energy and FirstEnergy Transmission has received approval for a major electric transmission project in central Ohio, aimed at enhancing grid capacity and reliability in the Columbus region [1] - The project will involve approximately 300 miles of new 765-kilovolt (kV) lines and upgrades to substations, significantly increasing service reliability and supporting economic growth [1] - The initiative is part of PJM's 2025 Regional Transmission Expansion Plan and is expected to address rising electricity demand due to economic growth and the increasing number of manufacturing facilities and data centers in the area [1] Company Overview - Transource Energy is a partnership between American Electric Power (AEP) and Evergy, focusing on competitive electric transmission projects across the U.S., with AEP owning 86.5% and Evergy 13.5% of Transource [1] - AEP plans to invest $72 billion from 2026 to 2030 to enhance service and support growing energy needs, operating the largest electric transmission system in the nation with approximately 40,000 line miles [1] - FirstEnergy Transmission, jointly owned by FirstEnergy Corp. and Brookfield Super-Core Infrastructure Partners, operates approximately 24,000 miles of transmission lines, serving over six million customers across several states [1]

Analysts predict a 22.4% decline in EPS to $0.52 for Q4 2025, despite a projected 2% revenue increase to $3.24 billion.Stability in EPS estimates over the past 30 days highlights analyst confidence, potentially impacting short-term stock performance.Financial metrics reveal a P/E ratio of 21.85 and a debt-to-equity ratio of 2.15, indicating market favorability but significant leverage.FirstEnergy Corporation (NYSE:FE) is set to release its fourth-quarter 2025 earnings on February 17, 2026. Analysts predict ...