Core Viewpoint - FirstEnergy Corp. is recognized as one of the best utility stocks for dividends in 2026, highlighting its strong investment strategy and commitment to infrastructure improvements [1]. Investment Plans - FirstEnergy plans to invest approximately $950 million to modernize equipment, rebuild older lines, and upgrade substations in Ohio and Pennsylvania [2]. - The company is set to invest around $490 million to construct nearly 200 miles of new 765 kV lines to enhance service reliability in the greater Columbus region, Ohio [3]. - An additional investment of $294 million will be allocated to build a new substation in Clark County, Ohio, and upgrade a line in the area [3]. - In Pennsylvania, FirstEnergy is investing $165 million to rebuild an existing 115-kV line into a double circuit line and to upgrade existing 500-kV lines [4]. Capital Investment Program - FirstEnergy has outlined a 5-year capital investment program totaling $36 billion, aimed at improving customer reliability and grid resiliency [4].

Financial Performance - Dominion Energy reported unaudited net income of $567 million ($0.65 per share) for Q4 2025, a significant increase from $134 million ($0.14 per share) in Q4 2024, resulting in a total net income of $3.0 billion ($3.45 per share) for the full year 2025 compared to $2.0 billion ($2.33 per share) in 2024 [1][12][13] - Operating earnings (non-GAAP) for Q4 2025 were $593 million ($0.68 per share), up from $504 million ($0.58 per share) in Q4 2024, with total operating earnings for 2025 reaching $3.0 billion ($3.42 per share) compared to $2.4 billion ($2.77 per share) in 2024 [2][15] Earnings Guidance - The company provided 2026 operating earnings guidance in the range of $3.45 to $3.69 per share, with a midpoint of $3.57 per share, which includes $0.07 per share of RNG 45Z income [4] - Dominion Energy extended its long-term annual operating earnings-per-share growth guidance of 5% to 7% through 2030, indicating a bias towards the upper half of this range from 2028 to 2030 [4] Business Segments - In Q4 2025, the Dominion Energy Virginia segment reported operating earnings of $536 million, an increase of $96 million from Q4 2024, while the Dominion Energy South Carolina segment saw a slight increase to $106 million [15] - The Contracted Energy segment reported operating earnings of $117 million, up by $63 million compared to the same period in 2024 [15] Operating Revenue and Expenses - Operating revenue for Q4 2025 was $4.093 billion, compared to $3.400 billion in Q4 2024, with total operating expenses rising to $3.337 billion from $3.009 billion in the same period [13] - The increase in operating expenses was driven by higher electric fuel and other energy-related purchases, which rose to $1.244 billion from $827 million in Q4 2024 [13] Adjustments and Reconciliation - Differences between GAAP and operating earnings include gains and losses on nuclear decommissioning trust funds and the mark-to-market impact of economic hedging activities [3][20] - The adjustments to reported earnings for 2025 included a pre-tax net income of $112 million, primarily related to nuclear decommissioning trust funds and economic hedging activities [18][20]