$FE · FIRSTENERGY CORP
FirstEnergy Corp. filed its Q3 2026 10-Q, reporting GAAP EPS of $0.96 on net income attributable to FE of $557M, up from $0.76 and $441M in Q3 2025. Revenue grew 9.9% YoY to $4.557B, with distribution services and retail generation contributing $3.665B. Operating income rose to $935M from $830M, aided by a $69M discrete state tax benefit.
- Q3 GAAP EPS of $0.96 vs $0.76 in Q3 2025, a 26% increase year-over-year.
- Q3 revenue rose 9.9% YoY to $4.557B, driven by distribution services and retail generation.
- Q3 net income attributable to FE was $557M, up from $441M in the prior-year quarter.
- Nine-month operating income reached $2.44B vs $2.23B in the same period of 2025.
- A $69M state tax benefit from settlement of an uncertain tax position boosted Q3 2026 results.
Extended-hours trading shows FE at $46.94, +1.16% above the regular-session close of $46.40, indicating a modest positive reaction to the Q3 beat.
A 26% EPS surge and nearly 10% revenue growth at a $27B regulated utility signal strong execution across distribution and transmission, though legal overhang persists.
FirstEnergy's 9.9% revenue growth and 26% EPS expansion reflect strong regulated utility fundamentals, with distribution and transmission investments driving results across its multi-state footprint.
Ongoing government investigations and related litigation costs remain a drag, though they declined $5M after-tax versus the prior year. Regulatory risk persists across Ohio, Pennsylvania, and New Jersey jurisdictions.