FirstEnergy’s Third-Quarter Profit Rises to $557 Million; 2026 Guidance Reaffirmed
Key Facts
FirstEnergy reported generally accepted accounting principles (GAAP) earnings of $557 million, or $0.96 per share, in the third quarter of 2026, compared with $441 million and $0.76 per share in the same period of 2025. Revenue was $4.6 billion, versus $4.1 billion a year earlier, according to a summary of the company’s statement published via PR Newswire. The company also reported Core earnings, a non-GAAP measure, of $0.98 per share for the quarter. FirstEnergy reaffirmed its 2026 Core earnings guidance range of $2.62 to $2.82 per share. It said it expects results to come in at or slightly above the midpoint, indicating it remains on track with its annual guidance.
For the first nine months of 2026, GAAP earnings were $2.16 per share, while Core earnings reached $2.20 per share, up 9% from the corresponding period of 2025. These figures capture the company’s performance from the start of the year through the end of the third quarter, while the standalone quarterly result provides a closer view of its performance over the last three months. In the first half, FirstEnergy reported GAAP earnings of $693 million, or $1.20 per share, and revenue of $7.9 billion. The figures were $628 million, $1.09 per share and $7.1 billion in the first half of 2025. First-half Core earnings were $1.22 per share, compared with $1.19 in the corresponding period. The move from first-half results to the nine-month total reflects continued growth in Core earnings, with the two accounting measures remaining separate in the disclosure.
Second-quarter 2026 results provided another point of comparison during the year: the company then reported GAAP earnings of $288 million, or $0.50 per share, and revenue of $3.7 billion. In the second quarter of 2025, earnings were $268 million, or $0.46 per share, and revenue was $3.4 billion. The quarterly comparison shows that both earnings and revenue in the second quarter were above year-earlier levels, before the third-quarter results were announced. In the first half, capital investment in regulated businesses totaled $2.9 billion, up 19% year over year. These investments form part of the context for the plan the company links to earnings growth over the coming years.
FirstEnergy reaffirmed its target for compound annual growth in Core earnings near the upper end of the 6% to 8% range from 2026 to 2030. It said the target is supported by a five-year capital investment plan worth $36 billion. The plan puts grid modernization and expansion at the center of the investment path announced by the company, while the annual guidance refers to the earnings measure it uses to track that target. First-half investments of $2.9 billion, up 19% from a year earlier, form part of the capital spending context the company presented in its previous disclosure. In the third quarter, the company again confirmed the growth target and investment plan while maintaining its 2026 earnings guidance range.
The company said in July that contracted and in-development data center demand had risen 30% since the first quarter, while contracted demand reached 6.4 gigawatts. In West Virginia, data center demand increased 137% to 4.3 gigawatts. These figures provide context on the electricity demand surrounding the grid modernization plan, but date from the second quarter of 2026. FirstEnergy reported higher capital investment in the first half, alongside growth in revenue and earnings compared with the same period a year earlier. The third-quarter results summary does not break out how much data center demand contributed to earnings for that period, so the demand figures remain an earlier operating indicator of the announced expansion, rather than a quantitative explanation of the quarterly results.
FirstEnergy, which trades under the ticker FE, closed at $46.18 on October 26, 2026, before announcing results the following day. The company’s management is scheduled to hold a call to discuss results on October 28, the next opportunity to present details on third-quarter results, investments and annual guidance. The call follows confirmation of the 2026 Core earnings range and the target for growth near the upper end of the 6% to 8% range through 2030. It will also give investors an opportunity to hear what management says about the $36 billion capital plan, following the announcement of quarterly results and revenue for the three-month period. The cited closing price predates the announcement and does not reflect the stock’s reaction to the results.