Core Insights - FirstEnergy Corp. has been recognized by Forbes as one of America's Most Trusted Companies and America's Best Companies for 2026, reflecting its commitment to operational excellence, customer service, and positive workplace culture [1][2] Recognition and Evaluation - Forbes' America's Most Trusted Companies list is based on an independent survey evaluating companies on transparency, ethical practices, and reliability, with FirstEnergy being among the top 300 out of 2,000 eligible businesses [3] - The America's Best Companies list highlights organizations excelling in employee satisfaction, customer experience, and financial strength, with FirstEnergy being selected as one of the top 500 companies based on over 60 measures across 11 categories [4] Investment and Community Engagement - In 2025, FirstEnergy plans to invest $5.5 million to modernize its power grid as part of its $28 billion Energize365 investment program aimed at enhancing reliability and reducing outages [5] - The FirstEnergy Foundation contributed over $5.5 million to local programs across its service area, and employees have volunteered more than 40,000 hours to support community initiatives [6] Company Overview - FirstEnergy Corp. serves over six million customers across six states and operates approximately 24,000 miles of transmission lines, emphasizing integrity, safety, reliability, and operational excellence [7]

Core Points - FirstEnergy Corp. emphasizes the importance of safety during the holiday decorating season, providing tips to ensure a joyful and secure environment for customers [1][2]. Safety Tips for Holiday Decorating - Maintain a distance of at least 10 feet from power lines when setting up decorations and using equipment [5]. - Use a sturdy step ladder with slip-resistant feet and carry it horizontally when accessing roofs [5]. - Always have a spotter when using ladders or aerial lifts to ensure visibility and safety [5]. - Secure decorations to prevent damage from winter winds and avoid attaching them to utility poles or electrical equipment [5]. - If decorations become entangled in power lines, contact FirstEnergy for assistance rather than attempting to resolve it independently [5]. - Regularly check for damaged cords and replace any that show signs of wear, and unplug cords that feel hot [5]. - Use ground fault circuit interrupters (GFCI) outlets outdoors to prevent electric shock [5]. - Manage cords properly to avoid hazards, such as not running them under rugs or across walkways [5]. - Opt for LED candles instead of traditional flames for a safer alternative [5]. Company Overview - FirstEnergy operates one of the largest investor-owned electric systems in the U.S., serving over six million customers across several states [3]. - The company’s transmission subsidiaries manage approximately 24,000 miles of transmission lines connecting the Midwest and Mid-Atlantic regions [3].

Core Insights - Jersey Central Power & Light (JCP&L) is investing $108 million through 2028 to enhance the electric grid in Ocean County, New Jersey, to meet increasing energy demands and improve reliability [1][2][7] Investment Details - The initial phase includes $21 million in upgrades for 2025, which involves adding two new transformers and upgrading an existing one at a local substation [3] - An additional $29 million will be invested from 2026 to 2028 as part of the New Jersey Reliability Improvement Project, focusing on enhancing reliability in areas with a history of outages [4] - A further $58 million is allocated for upgrades through 2028 under the EnergizeNJ program, which aims to modernize the grid and improve system resiliency [5] Population and Demand Growth - Ocean County's population has increased by nearly 30,000 residents from 2020 to 2024, leading to a surge in energy demand [2] - Businesses and developers have requested over 50 megawatts (MW) of new connections in the past year, sufficient to power approximately 50,000 homes [2] System Enhancements - Upgrades will include stronger power lines and the installation of automatic transfer devices to improve service reliability during outages [4][6] - More than 200 new "TripSaver" devices will be added to automatically restore power during temporary outages [6] Long-term Strategy - JCP&L's initiatives are part of FirstEnergy's broader Energize365 program, which plans to invest $28 billion from 2025 to 2029 to modernize the electric grid [7] - The goal is to create a smarter and more secure grid that can accommodate current and future customer needs [7]

Core Points - FirstEnergy Foundation is donating $55,000 to New Jersey educational programs focused on electrical trades and STEM, as part of over $5.5 million in community support distributed in 2025 [1][2][3] Group 1: Funding and Support - The grants will support various electrical education and STEM programs for students from elementary to college levels [2][3] - Specific programs receiving funding include Brookdale Community College ($20,000), Warren County College ($15,000), Sussex County Community College ($10,000), Ocean County College ($5,000), and Ocean County Foundation for Vocational and Technical Education ($5,000) [6] Group 2: Community Engagement - JCP&L employees are actively participating in educational activities, such as Career Day at Ocean County Vocational and Technical School, sharing their expertise with students [4] - The company regularly hosts STEM groups from local schools at its headquarters, providing insights into electrical grid management [4] Group 3: Company Overview - JCP&L serves approximately 1.2 million customers across multiple counties in New Jersey [6] - FirstEnergy operates one of the largest investor-owned electric systems in the U.S., serving over six million customers across several states [8]

Core Insights - FirstEnergy is investing $13 million in infrastructure to enhance electric service reliability for over 12,700 rural customers in West Virginia, focusing on reducing outages during severe weather [1][2]. Infrastructure Investment - The investment is part of a three-year pilot program approved by the Public Service Commission of West Virginia aimed at improving service reliability [1]. - Projects include building new power lines, upgrading to stronger wire, adding substation transformers, and installing automated smart technologies [7]. Specific Projects - In Berkeley and Morgan counties, a four-mile power line will connect two lines serving 5,400 customers, providing backup power to minimize outages [8]. - In Greenbrier County, a second transformer will be installed at a substation in Union to support 2,238 customers and future growth [8]. - In Hancock County, wire upgrades on an existing line will enhance backup power for over 3,100 customers, with additional equipment like regulators and reclosers to improve service reliability [8]. - In Tyler County, a two-mile tie line will be upgraded to reduce outages for 2,000 customers [8]. Company Overview - FirstEnergy operates one of the largest investor-owned electric systems in the U.S., serving over six million customers across multiple states [4].

Core Viewpoint - FirstEnergy (FE) is currently viewed as a better value opportunity compared to WEC Energy Group (WEC) based on various financial metrics and earnings outlook improvements [1][3][7] Valuation Metrics - FirstEnergy has a forward P/E ratio of 18.10, while WEC has a forward P/E of 21.18, indicating that FE is relatively cheaper [5] - The PEG ratio for FE is 2.80, compared to WEC's PEG ratio of 3.12, suggesting FE may offer better value when considering expected earnings growth [5] - FE's P/B ratio stands at 1.87, whereas WEC's P/B ratio is 2.58, further supporting the notion that FE is undervalued relative to its book value [6] Earnings Outlook - FirstEnergy has experienced stronger estimate revision activity, which is a positive indicator for its earnings outlook compared to WEC [3][7] - The Zacks Rank for FE is 2 (Buy), while WEC holds a Zacks Rank of 3 (Hold), reflecting a more favorable investment sentiment towards FE [3]

Core Insights - FirstEnergy plans to construct a 1,200-megawatt combined-cycle natural gas power plant and 70 megawatts of utility-scale solar in West Virginia, aiming to generate over 3,260 jobs and $68 million in tax revenue [1][2][4] - The project is part of FirstEnergy's commitment to providing reliable energy and supporting local economic growth, with ongoing operations expected to support nearly 2,200 jobs and $85.9 million in annual tax revenue [4][5] - The investment aligns with West Virginia's energy goals, including the "50 by 50" initiative to increase energy capacity to 50 gigawatts by 2050 [9] Job Creation and Economic Impact - The construction phase of the new gas plant is projected to create over 3,260 jobs [1] - Ongoing operations of the plant are estimated to support nearly 2,200 direct and indirect jobs [4] - The project is expected to generate $85.9 million in annual state and local tax revenue from its operations [4] Infrastructure and Reliability - FirstEnergy is committed to modernizing the electric grid in West Virginia, including upgrading transmission lines and implementing advanced grid technologies [7] - The new generation capacity will work alongside existing plants to ensure reliable power delivery [5][6] - The company plans to invest $5.2 billion in infrastructure enhancements in West Virginia between 2025 and 2029, with an additional $2.5 billion anticipated pending regulatory approval [8] Strategic Vision - FirstEnergy aims to position West Virginia as a hub for energy-intensive industries, attracting data centers and advanced manufacturers [6][7] - The planned generation capacity supports the state's long-term energy strategy and economic growth initiatives [9]

Group 1 - The options market indicates significant implied volatility for FirstEnergy Corp., particularly for the Dec. 19, 2025 $55.00 Put option, suggesting that investors expect a substantial price movement [1][3] - Implied volatility reflects market expectations of future stock movement, often indicating potential upcoming events that could lead to a major price change [2] - FirstEnergy currently holds a Zacks Rank 2 (Buy) in the Utility - Electric Power industry, which is in the top 26% of the Zacks Industry Rank [3] Group 2 - Over the past 60 days, no analysts have raised their earnings estimates for FirstEnergy's current quarter, while two have lowered their estimates, resulting in a decrease in the Zacks Consensus Estimate from 65 cents to 60 cents per share [3] - The high implied volatility may present trading opportunities, as seasoned options traders often seek to sell premium on such options, hoping the stock does not move as much as anticipated by expiration [4]

Core Viewpoint - FirstEnergy Inc. stock is currently trading at $46.17, showing a slight increase of 0.02% in the current session, with a 0.18% increase over the past month and a 10.10% increase over the past year, leading to mixed sentiments among investors regarding its valuation [1] Group 1: Stock Performance - The stock price of FirstEnergy Inc. is $46.17, reflecting a 0.02% increase in the current session [1] - Over the past month, the stock has increased by 0.18% [1] - In the past year, the stock has appreciated by 10.10% [1] Group 2: Price-to-Earnings Ratio Analysis - The P/E ratio is a critical metric for assessing the company's market performance, comparing the current share price to its earnings per share (EPS) [5] - FirstEnergy Inc. has a P/E ratio of 20.07, which is lower than the industry average P/E ratio of 23.26 in the Electric Utilities sector [6] - A lower P/E ratio may suggest that the stock is undervalued or that shareholders do not expect significant future growth [9]

Financial Performance - FirstEnergy's revenues for Q3 2025 were $4,148 million, an increase of 11% from $3,729 million in Q3 2024[270]. - Earnings attributable to FirstEnergy in Q3 2025 were $441 million or $0.76 per share, up 5% from $419 million or $0.73 per share in Q3 2024[270]. - For the first nine months of 2025, revenues reached $11,293 million, a 10% increase from $10,296 million in the same period of 2024[274]. - Earnings attributable to FirstEnergy for the first nine months of 2025 were $1,069 million or $1.85 per share, a 49% increase from $717 million or $1.25 per share in the first nine months of 2024[274]. - FirstEnergy's total revenues for Q3 2025 were $4,148 million, compared to $4,020 million in Q3 2024, reflecting an increase in electric revenues[297]. - Earnings attributable to FirstEnergy for Q3 2025 were $441 million, compared to $230 million in Q3 2024, indicating a positive growth trend[297]. - Total revenues for FirstEnergy in the first nine months of 2025 were $11,293 million, an increase from $10,296 million in the same period of 2024[321][322]. Capital Investments - FirstEnergy's planned capital investments for 2025 have been increased to $5.5 billion, a 10% rise from the original plan of $5.0 billion[279]. - The company expects a 30% increase in planned transmission capital investments for the 2026-2030 period compared to the current 5-year plan[279]. - The integrated resource plan filed by MP and PE includes a capital investment of approximately $2.5 billion for 70 MWs of solar generation by 2028 and 1,200 MWs of natural gas combined cycle generation by 2031[294]. - Capital investments in the Integrated Segment totaled $1,336 million in 2025, up from $1,045 million in 2024, an increase of $291 million[387]. - The Distribution Segment saw capital investments rise to $976 million in 2025, compared to $758 million in 2024, an increase of $218 million[387]. Operating Expenses - Operating expenses for FirstEnergy in Q3 2025 totaled $3,318 million, with significant costs in purchased power at $1,341 million and other operating expenses at $976 million[297]. - Total operating expenses increased by $152 million in Q3 2025, mainly due to a $110 million rise in purchased power costs[303]. - Total operating expenses for Stand-Alone Transmission increased by $5 million, primarily due to higher depreciation and property tax expenses[342]. Customer and Revenue Trends - Electric distribution MWh deliveries for residential customers in Q3 2025 were 15,448, a slight increase of 0.2% from 15,415 in Q3 2024[273]. - Total electric distribution MWh deliveries for the first nine months of 2025 were 112,395, a 0.5% increase from 111,834 in the same period of 2024[277]. - Distribution segment's total revenues increased by $399 million to $5,631 million for the nine months ended September 30, 2025, compared to $5,232 million in 2024[325]. - Generation sales revenues increased by $96 million in Q3 2025, attributed to higher retail generation sales and increased auction rates in Pennsylvania[302]. Regulatory and Legislative Developments - The Ohio Governor signed legislation eliminating ESPs and requiring triennial base rate cases, effective August 14, 2025, which may impact future regulatory strategies[292]. - The Ohio Companies requested a net increase in base distribution revenues of approximately $94 million, representing a 1.5% average residential monthly bill increase[291]. - The PUCO approved the Ohio Companies' proposal to return to ESP IV, effective February 1, 2025, after withdrawing ESP V[440]. - The NJBPU issued an Order to Show Cause regarding JCP&L's reliability performance, alleging failures to meet minimum reliability levels for 2022, 2023, and 2024[438]. Debt and Liquidity - FirstEnergy's outstanding short-term borrowings were $291 million as of September 30, 2025, down from $550 million as of December 31, 2024[371]. - FirstEnergy's total available liquidity from external sources as of October 27, 2025, was $6,242 million, including $775 million in cash and cash equivalents[371]. - The company executed a lift-out transaction with MetLife in January 2025, transferring approximately $640 million of plan assets and $652 million of plan obligations[365]. - FirstEnergy's average interest rates for regulated companies' money pools decreased to 4.35% for the three months ended September 30, 2025, compared to 5.43% for the same period in 2024[376]. Tax and Regulatory Liabilities - The effective tax rate for the distribution segment was 17.3% in Q3 2025, up from 15.0% in Q3 2024, reflecting a lesser impact of permanent tax benefits[305]. - FirstEnergy's regulatory assets not earning a current return increased by $138 million, totaling $1,381 million as of September 30, 2025[358]. - The company expects to rely on external sources of funds to meet long-term cash needs, including the issuance of long-term debt[361]. Environmental and Efficiency Initiatives - The Ohio Companies aim to reduce CO2 emissions by 90% below 2005 levels by 2045[440]. - The MDPSC approved a $311 million scenario for the EmPOWER Maryland program, with a revised plan for 2024-2026 totaling $314 million approved on December 27, 2024[428]. - JCP&L's proposal for offshore wind transmission infrastructure includes approximately $723 million in investments, with an expected investment ROE of 10.2%[432].