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FirstEnergy Q3 revenue beats analyst estimates; confirms FY core earnings guidance

By Reuters News


Overview

  • U.S. electric utility's Q3 revenue rose and beat analyst expectations

  • Core EPS for Q3 increased and beat analyst expectations

  • Company reaffirmed 2026 Core EPS guidance and highlighted grid modernization investments


Outlook

  • FirstEnergy reaffirms 2026 Core Earnings guidance of $2.62-$2.82 per share, sees results at or above midpoint

  • Company maintains Core Earnings CAGR near top end of 6%-8% through 2030

  • FirstEnergy expects at least 25% increase in 2027–2031 transmission investment plan from current $19 bln plan


Result Drivers

  • INVESTMENT STRATEGY - Co said continued implementation of its investment strategy contributed to improved results

  • GRID MODERNIZATION - Co attributed growth to its $36 bln, five-year Energize365 capital investment plan to modernize the grid and renew infrastructure

  • INCREASED DEMAND - Co said growing electricity demand and contracted load from large customers are driving opportunities for additional transmission investment


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

Beat

$4.60 bln

$4.25 bln (6 Analysts)

Q3 Core EPS

Beat

$0.98

$0.90 (11 Analysts)

Q3 EPS

$0.96

Q3 Net Income

$557 mln


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 11 "strong buy" or "buy", 7 "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the electric utilities peer group is "buy"

  • Wall Street's median 12-month price target for FirstEnergy Corp is $50.00, about 8.3% above its October 26 closing price of $46.18

  • The stock recently traded at 16 times the next 12-month earnings vs. a P/E of 17 three months ago


Reuters Recommended Reads

  • Oct 27 - CenterPoint Energy Q3 adjusted EPS beats estimates, raises 2026 outlook

  • Oct 27 - CMS Energy Q3 adjusted EPS beats estimates

  • Oct 27 - World to add less clean energy capacity this year, renewables agency chief says


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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