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Sentiment · FY2026 Q2
| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|
| FY2024 Q4 | $3.18B | +1.0% | $0.45 | +48.7% | 19.3% | 8.2% | $-250M |
| FY2025 Q1 | $3.77B | +14.5% | $0.62 | +40.9% | 20.0% | 9.6% | $-368M |
| FY2025 Q2 | $3.38B | +3.0% | $0.46 | +475.0% | 19.1% | 7.9% | $-136M |
| FY2025 Q3 | $4.15B | +11.2% | $0.76 | +4.1% | 20.0% | 10.6% | $3.07B |
| FY2025 Q4 | $3.80B | +19.6% | $-0.08 | -118.7% | 15.9% | -1.3% | $-30M |
| FY2026 Q1 | $4.20B | +11.6% | $0.70 | +12.9% | 19.7% | 9.6% | $-1.11B |
| FY2026 Q2 | $3.68B | +8.8% | $0.50 | +8.7% | 18.4% | 9.6% | $2.24B |
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Nick Campanella | Barclays | 15 (7%) |
| Carly Davenport | Goldman Sachs | 14 (0%) |
| Jeremy Tonet | JPMorgan |
FirstEnergy opened 2026 with core earnings of $0.72 per share, up 7.5% from $0.67 a year earlier, with each regulated business posting year-over-year gains and GAAP earnings of $0.70 versus $0.62. Customer-focused investment reached $1.4 billion in the quarter, a 33% increase, while base O&M fell close to 5% under the continuous improvement program. Management reaffirmed 2026 core earnings guidance of $2.62 to $2.82 and the 6% to 8% long-term CAGR through 2030, targeting near the top end off the $2.72 midpoint. The data center pipeline strengthened, with roughly 4 gigawatts in final contract negotiations expected to contract this quarter and West Virginia interest growing to 1.8 gigawatts of highly credible projects plus more than 6 gigawatts in dialogue. Moody's raised its outlook on FirstEnergy to positive, reflecting an improved credit profile.
Regulation Policy | Capex Investment | Capital Allocation | Guidance Reliability | Demand | Cloud & AI | Margin | Revenue Growth | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 5 | 2 | 5 | 2 | 2 | 1 | 3 | |
| 2025Q1 | 12 | 4 | 3 | 2 | 2 | 2 | 2 | |
| 2025Q2 | 7 | 9 | 2 | 1 | 2 | 3 | 2 | |
| 2025Q3 | 7 | 8 | 1 | 3 | 4 | 3 | 1 | 2 |
| 2025Q4 | 8 | 7 | 3 | 3 | 1 | 1 | 3 | 2 |
| 2026Q1 | 8 | 3 | 1 | 2 | 1 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Regulation Policy | 5 | 12 | 7 | 7 | 8 | 8 |
| Capex Investment | 2 | 4 | 9 | 8 | 7 | 3 |
| Capital Allocation | 5 | 2 | 1 | 3 | 1 | |
| Guidance Reliability | 2 | 3 | 1 | 3 | 3 | |
| Demand | 2 | 2 | 2 | 4 | 1 | |
| Cloud & AI | 2 | 3 | 3 | 1 | 2 | |
| Margin | 1 | 2 | 2 | 1 | 3 | 1 |
| Revenue Growth | 3 | 2 | 2 | 2 |
| Andrew Weisel | Scotiabank | 13 (8%) |
| Anthony Crowdell | Mizuho Securities | 10 (10%) |
| Steve Fleishman | Wolfe Research | 9 (0%) |
| David Arcaro | Morgan Stanley | 8 (0%) |
| Shar Pourreza | Wells Fargo | 8 (25%) |
| Ross Fowler | Bank of America | 5 (0%) |
| Ryan Levine | Citigroup | 4 (25%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Barclays | 2 | 19 (5%) |
| Goldman Sachs | 1 | 14 (0%) |
| JPMorgan | 1 | 14 (7%) |
| Scotiabank | 1 | 13 (8%) |
| Wolfe Research | 2 | 11 (0%) |
| Mizuho Securities | 1 | 10 (10%) |
| Wells Fargo | 1 | 8 (25%) |
| Morgan Stanley | 1 | 8 (0%) |
What FE and other companies said about each other on FY2026 Q1 earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“then we see unanimous -- pretty much unanimous settlement with PPL still to be approved. And we have this reaction to filing a case and pulling it, although I think they did file it kind of earlier than normal.”
An analyst frames peer utility PPL's pending unanimous rate-case settlement in Pennsylvania as a read-through for the state's regulatory/affordability backdrop.
“In late March, Moody's raised its outlook on FirstEnergy's senior unsecured rating to positive resulting from our improved credit profile as well as our low risk rate regulated T&D operations.”
Moody's revised its outlook on FirstEnergy's senior unsecured rating to positive, reflecting a rating-agency view that FirstEnergy's credit profile has improved.
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
FE FirstEnergy | 7 | +11.6% | |
| AEE Ameren | 7 | +3.8% | |
| AEP American Electric Power | 5 | +6.8% | |
| CMS CMS Energy | 6 | +11.6% | |
| CNP CenterPoint Energy | 5 | +1.9% | |
| D Dominion Energy | 7 | +26.2% | |
| DTE DTE Energy | 7 | +15.8% | |
| DUK Duke Energy | 8 | +11.3% | |
| ED Consolidated Edison | 6 | +6.2% | |
| EIX Edison International | 6 | +7.7% | |
| ES Eversource Energy | 6 | +9.4% | |
| ETR Entergy | 8 | +12.0% | |
| EVRG Evergy | 7 | +5.5% | |
| EXC Exelon | 6 | +7.9% | |
| LNT Alliant Energy | 5 | +5.0% | |
| NEE NextEra Energy | 6 | +7.3% | |
| PCG PG&E Corporation | 8 | +15.0% | |
| PEG Public Service Enterprise Group | 9 | +19.4% | |
| PNW Pinnacle West | 8 | +11.4% | |
| PPL PPL Corporation | 7 | +10.8% | |
| SO Southern Company | 6 | +8.0% | |
| WEC WEC Energy Group | 7 | +9.0% | |
| XEL Xcel Energy | 6 | +2.9% |