# FirstEnergy reaffirms earnings outlook as grid demand accelerates

> FirstEnergy beat published Q3 estimates, reaffirmed 2026 core-EPS guidance and highlighted contracted large-load demand while year-to-date operating cash flow declined.

Source page: https://stoqly.net/news/firstenergy-q3-2026-grid-demand-guidance

- **Published:** 2026-10-31T20:32:00+00:00
- **Section:** Quarterly results
- **Company:** FirstEnergy (FE), https://stoqly.net/companies/fe.md

FirstEnergy reported third-quarter 2026 revenue of $4.557 billion, up 9.9% from $4.1 billion a year earlier. GAAP earnings rose to $557 million, or $0.96 per diluted share, from $441 million, or $0.76, while core earnings increased to $0.98 per share from $0.83.

The result exceeded published pre-release estimates of about $4.24–$4.29 billion in revenue and $0.90 per share. FirstEnergy reaffirmed its 2026 core-EPS range of $2.62–$2.82 and said it expects to finish at or slightly above the midpoint. The company also kept its long-term core-EPS growth outlook near the top end of a 6%–8% range through 2030.

Cash conversion was weaker year to date: operating cash flow was $2.058 billion through September, versus $2.564 billion in the comparable 2025 period. At September 30, long-term debt carried a $28.245 billion balance, alongside $370 million of short-term borrowings and $53 million of current long-term debt. The balance-sheet figures underline the financing demands of the investment program.

**Demand is reshaping the investment case** FirstEnergy said it has a $36 billion five-year Energize365 capital plan and had deployed $4.9 billion in the first nine months. It reported 7.9 gigawatts of contracted demand from large-load customers—nearly twice the level at the start of the year—and about 4 gigawatts of additional load under negotiation.

The company has reserved Siemens turbines for the proposed Maidsville Energy Center in West Virginia, with delivery expected in 2030, subject to regulatory approval. It also expects its current $19 billion 2026–2030 transmission plan to rise by at least 25% when the next planning period rolls forward. These are forward-looking projects, not completed capacity, and depend on approvals, customer commitments and execution.

- Q3 revenue: $4.557B +9.9% year over year
- Core EPS: $0.98 +18.1% year over year
- 9M operating cash flow: $2.058B -$506M year over year
- 2026 core EPS guide: $2.62–$2.82 reaffirmed company guidance

- [FirstEnergy Q3 2026 results release, filed as SEC Exhibit 99.1 on October 27, 2026](https://www.sec.gov/Archives/edgar/data/1031296/000103129626000142/ex991-q32026newsrelease.htm)
- [FirstEnergy Form 10-Q for the quarter ended September 30, 2026](https://www.sec.gov/Archives/edgar/data/1031296/000103129626000144/fe-20260930.htm)
- [FirstEnergy investor-relations results release](https://investors.firstenergycorp.com/investor-materials/news-releases/news-details/2026/FIRSTENERGY-DELIVERS-STRONG-THIRD-QUARTER-RESULTS-BUILDS-MOMENTUM-FOR-LONG-TERM-GROWTH/default.aspx)
- [Published pre-release consensus estimates for FirstEnergy Q3 2026](https://www.marketbeat.com/earnings/reports/2026-10-27-firstenergy-corp-stock/)

---

Written by Stoqly from SEC filings and market data. For information only — not investment advice or a recommendation to buy, sell or hold any security.