Focused on Our Future 1Q 2025 Strategic & Financial Highlights Published April 23, 2025 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 reliance ...

FirstEnergy (FE) reported first-quarter 2025 operating earnings of 67 cents per share, which beat the Zacks Consensus Estimate of 60 cents by 11.7%. The bottom line also increased 36.7% from the year-ago quarter’s figure of 49 cents. (See the Zacks Earnings Calendar to stay ahead of market-making news)The year-over-year increase in earnings was due to the impact of new base rates in Pennsylvania, West Virginia and New Jersey, growth in rate base under formula rate programs, lower financing costs and normal ...

分组1 - FirstEnergy reported quarterly earnings of $0.67 per share, exceeding the Zacks Consensus Estimate of $0.60 per share, and up from $0.55 per share a year ago, representing an earnings surprise of 11.67% [1] - The company posted revenues of $3.77 billion for the quarter ended March 2025, surpassing the Zacks Consensus Estimate by 3.17%, compared to $3.29 billion in the same quarter last year [2] - FirstEnergy shares have increased approximately 7.4% since the beginning of the year, while the S&P 500 has declined by 10.1% [3] 分组2 - The current consensus EPS estimate for the upcoming quarter is $0.59 on revenues of $3.49 billion, and for the current fiscal year, it is $2.70 on revenues of $14.43 billion [7] - The Zacks Industry Rank for Utility - Electric Power is currently in the top 14% of over 250 Zacks industries, indicating a favorable outlook for the industry [8] 分组3 - The estimate revisions trend for FirstEnergy is currently unfavorable, resulting in a Zacks Rank 4 (Sell) for the stock, suggesting expected underperformance in the near future [6] - One other stock in the same industry, Algonquin Power & Utilities, is expected to report quarterly earnings of $0.09 per share, reflecting a year-over-year decline of 35.7% [9]

FirstEnergy Q1 2025 Financial Results [Financial Highlights](index=1&type=section&id=Financial%20Highlights) FirstEnergy reported strong Q1 2025 results with significant year-over-year growth in GAAP and Core Earnings, affirming full-year guidance and investment plans Q1 2025 vs. Q1 2024 Key Financial Metrics | Metric | Q1 2025 | Q1 2024 | Change | | :--- | :--- | :--- | :--- | | GAAP Earnings (million USD) | $360 | $253 | +42.3% | | GAAP EPS (USD) | $0.62 | $0.44 | +$0.18 | | Core Earnings (non-GAAP) EPS (USD) | $0.67 | $0.49 | +$0.18 | | Revenue (billion USD) | $3.8 | $3.3 | +15.2% | - The company is on track with its **2025 $5 billion investment plan**, having made over **$1 billion** in customer-focused capital investments during the first quarter[1](index=1&type=chunk) - FirstEnergy affirmed its full-year **2025 Core Earnings guidance of $2.40 to $2.60 per share** and its long-term **6-8% compounded annual Core Earnings growth rate target** through 2029[1](index=1&type=chunk)[4](index=4&type=chunk) [Performance Analysis](index=2&type=section&id=Performance%20Analysis) Core Earnings growth in Q1 2025 was driven by new base rates and increased demand, partially offset by higher operating expenses and FET equity sale dilution - Positive drivers for Core Earnings included new base rates in Pennsylvania, West Virginia, and New Jersey, growth in rate base, lower financing costs, and normal weather-related demand[5](index=5&type=chunk) - Performance was partially offset by higher operating expenses from increased maintenance and dilution related to the FirstEnergy Transmission (FET) equity interest sale in March 2024[5](index=5&type=chunk) Q1 2025 vs. Q1 2024 Sales Change | Customer Sector | Sales Change (%) | | :--- | :--- | | Total Distribution Deliveries | > +4 | | Residential | +10 | | Commercial | > +5 | | Industrial | ~ -3 | [Segment Performance](index=2&type=section&id=Segment%20Performance) Distribution and Integrated segments showed Core Earnings growth from new rates and demand, while Stand-Alone Transmission declined due to dilution, and Corporate/Other improved from lower financing costs - Distribution Segment: Core Earnings increased by **$0.10 per share**, driven by new base rates in Pennsylvania effective Jan 1, 2025, and stronger customer demand[6](index=6&type=chunk) - Integrated Segment: Core Earnings increased by **$0.10 per share**, resulting from new base rates in New Jersey and West Virginia, strong rate base growth (including **19% in transmission**), and higher demand[7](index=7&type=chunk) - Stand-Alone Transmission Segment: Core Earnings decreased by **$0.04 per share** as dilution from the FET equity sale offset rate base growth of over **10%**[8](index=8&type=chunk) - Corporate/Other: Results improved by **$0.02 per share** compared to Q1 2024, due to lower financing costs from reduced long-term debt and revolver borrowings[9](index=9&type=chunk) [GAAP to Non-GAAP Reconciliation](index=3&type=section&id=GAAP%20to%20Non-GAAP%20Reconciliation) The company reconciles GAAP EPS to Core EPS, showing Q1 2025 GAAP EPS of **$0.62** adjusted by **$0.05** for special items to reach Core EPS of **$0.67** Consolidated GAAP EPS to Core EPS (non-GAAP) Reconciliation | | Three Months Ended March 31, | | :--- | :--- | :--- | | | **2025** | **2024** | | **Basic – EPS (GAAP) (USD)** | **$0.62** | **$0.44** | | Excluding Special Items: | | | | FE Forward cost to achieve | — | 0.01 | | Investigation and other related costs | 0.03 | 0.03 | | Net Pension/OPEB credits | (0.01) | (0.03) | | Regulatory credits | — | (0.01) | | Reorganization costs | 0.03 | — | | Signal Peak earnings impact | — | (0.03) | | Strategic transaction charges | — | 0.08 | | **Total Special Items** | **0.05** | **0.05** | | **Core EPS (Non-GAAP) (USD)** | **$0.67** | **$0.49** | [Company Outlook and Strategic Initiatives](index=2&type=section&id=Company%20Outlook%20and%20Strategic%20Initiatives) FirstEnergy reaffirms its full-year 2025 Core Earnings guidance and long-term growth target through 2029, supported by the "Energize365" capital investment plan - Affirms full-year **2025 Core Earnings guidance of $2.40 to $2.60 per share**[4](index=4&type=chunk) - Maintains a **6-8% targeted compound annual Core Earnings growth rate** from 2025 through 2029[4](index=4&type=chunk) - Growth is supported by the five-year, **$28 billion** "Energize365" capital investment plan, with **$5 billion** planned for 2025[4](index=4&type=chunk) [Important Disclosures and Investor Information](index=3&type=section&id=Important%20Disclosures%20and%20Investor%20Information) This section details the use of non-GAAP measures, provides forward-looking statement disclaimers, and outlines investor resource access [Non-GAAP Financial Measures](index=3&type=section&id=Non-GAAP%20Financial%20Measures) Management utilizes non-GAAP measures like Core EPS to assess performance and provide a clearer view of ongoing operations by excluding special items, complementing GAAP measures - Management uses non-GAAP financial measures to evaluate performance, manage operations, and facilitate historical and ongoing performance comparisons[12](index=12&type=chunk) - Special items, which are excluded from non-GAAP measures, represent charges or benefits that management believes are not indicative of ongoing core activities[13](index=13&type=chunk) - A quantitative reconciliation for forward-looking non-GAAP measures is not provided due to the unreasonable effort required to forecast and quantify special items[14](index=14&type=chunk) [Investor Resources](index=4&type=section&id=Investor%20Resources) The company provides investor access to its Strategic and Financial Highlights presentation online and details for a live webcast and teleconference - The Strategic and Financial Highlights presentation is available on the company's investor relations website, www.firstenergycorp.com/ir[15](index=15&type=chunk) - A live webcast and teleconference for financial analysts will be held at 9:00 a.m. EDT to present an overview of financial results and host a Q&A session[16](index=16&type=chunk) [Forward-Looking Statements](index=5&type=section&id=Forward-Looking%20Statements) The news release contains forward-looking statements subject to various risks, including investigations, economic conditions, and regulatory changes, with no obligation to update - The news release includes forward-looking statements that are subject to risks and uncertainties which could cause actual results to differ materially from expectations[18](index=18&type=chunk) - Key risks include potential liabilities from government investigations (e.g., HB 6), economic volatility, severe weather events, legislative and regulatory developments, and cyber-attacks[18](index=18&type=chunk) - FirstEnergy expressly disclaims any obligation to update or revise any forward-looking statements, except as required by law[19](index=19&type=chunk)

Reports significant improvement in first quarter 2025 GAAP earnings of $0.62 per share and Core Earnings (non-GAAP) of $0.67 per share, versus 2024 GAAP earnings of $0.44 per share and Core Earnings of $0.49 per share On track with 2025 $5 billion investment plan with more than $1 billion in customer-focused capital investments in the first quarter, supporting five-year Energize365 program of $28 billion through 2029 Affirms full-year 2025 Core Earnings guidance of $2.40 to $2.60 per share and 6-8% compoun ...

Key leadership positions align with core business model focused on enhancing system investments and customer experience at the local level AKRON, Ohio, April 21, 2025 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) has announced the appointment of four new executives to support the company's transmission business, operations and generation in its combined West Virginia/Maryland division and operations in New Jersey. Satvir Deol has been named Vice President, Transmission Operations, effective April 21, reporti ...

Core Viewpoint - FirstEnergy Corporation (FE) is expected to report its first-quarter 2025 results on April 23, following a previous quarter that saw a negative earnings surprise of 4.3% [1] Factors Impacting Q1 Performance - In February 2025, FirstEnergy's subsidiary upgraded its electric system in eastern Westmoreland County, benefiting nearly 500 customers and likely boosting revenue for the upcoming quarter [2] - Jersey Central Power & Light, another subsidiary, completed electric system upgrades in northern and eastern Monmouth County, enhancing service for over 4,000 customers [3] - The completion of a utility-scale solar site in West Virginia by Mon Power and Potomac Edison, featuring nearly 14,000 solar panels producing up to 5.5 megawatts, is expected to positively impact first-quarter results [4] - Severe storms in March 2025 caused power outages affecting over 311,000 consumers, potentially leading to increased operating expenses for power restoration, which may offset some positive impacts [5] Q1 Expectations - The Zacks Consensus Estimate for earnings is 59 cents per share, reflecting a year-over-year increase of 7.3% [6] - Revenue is estimated at $3.64 billion, indicating a 10.8% improvement year-over-year [6] - Total electric distribution deliveries are expected to reach 38,784.4 megawatt-hours, up 5.9% from the previous year [6] Earnings Prediction - The current model does not predict an earnings beat for FirstEnergy, with an Earnings ESP of +0.85% and a Zacks Rank of 4 (Sell) [7][8]

Core Points - FirstEnergy recognizes the dedication and resilience of its lineworkers who face daily hazards to restore power for homes and businesses [1][3] - National Lineman Appreciation Day was established in 2013 to honor the work of electric crews, particularly after Hurricane Sandy [2] - FirstEnergy's lineworkers responded to significant outage events and provided mutual assistance during national disasters, including Hurricanes Helene and Milton [3][5] Company Performance - In August 2024, a severe storm caused power outages for over 627,700 customers in FirstEnergy's service area, with lineworkers restoring power to 94% of affected customers within five days [4] - Following the storm, FirstEnergy crews assisted in restoration efforts in the Carolinas, Florida, Georgia, and Virginia, logging over 150,000 personnel-hours [5] - FirstEnergy received the Emergency Recovery Award and Emergency Assistance Award from the Edison Electric Institute for their efforts in power restoration [6] Company Overview - FirstEnergy operates one of the largest investor-owned electric systems in the U.S., serving over 6 million customers across multiple states [7] - The company's transmission subsidiaries manage approximately 24,000 miles of transmission lines connecting the Midwest and Mid-Atlantic regions [7]

AKRON, Ohio, April 14, 2025 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) electric company Ohio Edison is investing in grid upgrades to help prevent and minimize the impact of power outages in Clark County and meet the projected energy needs of industrial facilities in the area.The work is expected to enhance reliability for nearly 2,700 Ohio Edison customers in the Springfield area while enabling two local manufacturers to expand their businesses, potentially creating hundreds of local jobs. Ohio Edison ...

FirstEnergy Corporation’s (FE) subsidiary, FirstEnergy Pennsylvania Electric Company (FE PA), completed work to enhance its energy delivery system in Venango and Crawford counties.The project's goal is to enhance the line's performance, which was impacted by multiple equipment-related outages during the previous five years. About 540 consumers benefit from the rebuilt line's more reliable flow to the Polk substation. The project began in November 2024.FE’s Project in DetailsThe project included replacing mo ...