FirstEnergy Corp. Q3 2026 Earnings Recap

FirstEnergy’s shares rose 0.3%, a roughly flat reaction. The company reaffirmed 2026 Core EPS guidance and cited growing large-load demand and planned transmission investment, while the Maidsville project and additional West Virginia opportunities still depend on regulatory and customer negotiations.

Key Takeaways

• Third-quarter Core EPS was $0.98, up from $0.83 a year earlier; GAAP EPS was $0.96, versus $0.76.
• First-nine-month Core EPS rose 9% to $2.20. The company reaffirmed 2026 guidance of $2.62–$2.82 per share and expects results at or slightly above the midpoint.
• FirstEnergy reported 7.9 GW of contracted data center demand and about 4 GW in active negotiations. It expects demand growth to drive at least a 25% increase to its current $19 billion transmission investment plan in an updated five-year plan.
• Through September, the company deployed $4.9 billion in investments, up 23% from the same period of 2025. Trailing-12-month consolidated ROE was 9.5%, in line with its target.
• Maidsville awaits a West Virginia commission order expected in the fourth quarter; the company has reserved turbines for 2030 delivery. It also issued an RFP for 3 GW of additional combined-cycle capacity and expects an update in early 2027.