Key Highlights

● GAAP earnings were $288 million, or $0.50 per share, versus $0.46 a year earlier.

● Core earnings were $0.50 per share, down from $0.52.

● Contracted data center demand stands at 6.4 gigawatts.

● The board declared a quarterly dividend of 46.5 cents per share.

FirstEnergy Corp. (NYSE:FE) is a US electric utility holding company whose subsidiaries deliver power to customers across the Midwest and Mid-Atlantic. Its $0.10 par value common stock is listed on the New York Stock Exchange.

The business spans regulated distribution, integrated operations and stand-alone transmission, so earnings depend largely on regulatory decisions and on how quickly the company can add investment to its rate base.

Second-quarter results, reported July 28, 2026

FirstEnergy reported second-quarter GAAP earnings of $288 million, or $0.50 per share, compared with $268 million, or $0.46, a year earlier. Revenue was $3.7 billion against $3.4 billion. On the company's core, non-GAAP measure, earnings were $0.50 per share, down from $0.52, which management described as in line with its plan. For the first half, GAAP earnings per share were $1.20 (2025: $1.09) and core earnings per share were $1.22 (2025: $1.19).

Distribution core earnings fell by $0.06 per share, which the company attributed mainly to higher maintenance expenses. The integrated segment was flat, as 22% transmission rate base growth was offset by planned maintenance costs, while stand-alone transmission added $0.04 per share on rate base growth of 11%.

The quarterly filing shows cash from operations of $1,137 million for the six months, down from $1,719 million a year earlier, against capital investment of $2.6 billion.

Guidance, investment plan and data center demand

Management reaffirmed 2026 core earnings guidance of $2.62 to $2.82 per share and expects 2026 to 2030 core earnings growth near the top of a 6% to 8% range.

The 2026 capital plan is $6 billion, of which $2.9 billion had been deployed by the end of June. The wider Energize365 program is $36 billion over five years, nearly 30% above the previous plan. Contracted data center demand stands at 6.4 gigawatts, and contracted plus pipeline demand rose 30% since the first quarter. West Virginia demand rose 137% to 4.3 gigawatts, and the company is advancing the proposed Maidsville Energy Center.

Trailing twelve-month consolidated return on equity was 9.5%.

Dividend and sector context

On September 29, 2026 the board declared a quarterly dividend of 46.5 cents per share, payable on December 1 to holders of record at the close of business on November 6. Dividend payments totaled $526 million in the first half, which was covered by operating cash flow of $1,137 million, although total capital spending was far larger, so external financing remains part of the funding picture. The filing records a $750 million term loan dated April 28, 2026 and refers to an equity interest sale in FirstEnergy Transmission under which Brookfield would own 49.9%.

FirstEnergy is an S&P 500 constituent, and the index is the natural wider comparison. Regulated utilities typically offer steadier earnings than the broad index but are sensitive to interest rates, because heavy borrowing funds network upgrades.

Legal Settlements and the October 27 Release

The company's filings flag several material risks: the 2021 Deferred Prosecution Agreement, a securities class action, and settlements involving the Ohio Attorney General and the SEC. The filing also cites regulatory risk around rate outcomes, co-location of generation with large loads, and changes in customer demand tied to data center development. Ohio customer restitution and refunds accounted for a $266 million outflow in the period.

The next confirmed event is the third-quarter earnings release, scheduled after the market close on Tuesday, October 27, 2026, followed by a teleconference at 9 a.m. Eastern on Wednesday, October 28. It will show whether second-half core earnings are building towards the guided range.