FirstEnergy (FE) Q3 2026 Earnings
How Did FE Stock React to Q3 2026 Earnings?
Did FE Beat Earnings? Q3 2026 Results
Yes. FirstEnergy reported Q3 2026 earnings of $0.98 a share on Oct 27, 2026, beating the $0.90 consensus estimate by 8.7%. Revenue was $4.6B against a $4.3B estimate.
FirstEnergy Corp. delivered a strong third quarter of 2026, posting adjusted core earnings of $0.98 per share and beating the $0.90 consensus estimate by 8.67%, while revenue of $4.56 billion cleared expectations by 6.11% and grew 9.9% from the year-ago period. The utility's outperformance was driven largely by rate and investment gains contributing $0.07 per share, alongside disciplined cost management and favorable income tax benefits that lifted the Corporate segment from a $0.10 drag to breakeven. Distribution segment core earnings rose to $0.48 from $0.41 a year earlier, reflecting the benefits of the company's Energize365 capital program, which has deployed $4.90 billion year-to-date under a five-year $36.00 billion plan targeting 10.4% rate base growth. Contracted data center demand nearly doubled to roughly 7.9 GW, reinforcing the structural demand story that has drawn fresh analyst attention to the stock. Management reaffirmed full-year 2026 core EPS guidance of $2.62 to $2.82, expecting results at or slightly above the midpoint, and reiterated a long-term earnings growth rate near the top of its 6% to 8% target through 2030.
- Rates and investments contributed $0.07 per share improvement in Q3 2026
- O&M/Other OpEx discipline added $0.04 per share
- Customer demand contributed $0.02 per share from Distribution and $0.02 from Integrated
- Industrial load growth of 3.3% Q-o-Q driven by manufacturing and data center activity
- Total weather-adjusted load growth in each of the last four quarters
- Year-to-date capital deployment of $4.9 billion, a 23% Y-o-Y increase
- Y-o-Y total rate base growth of 9.9% and transmission rate base growth of 14.0%
“We're delivering on our commitments while positioning FirstEnergy for the next phase of growth. Our strong execution gives us confidence in our long-term outlook. We're taking steps necessary to deliver value for our customers and shareholders.”
FirstEnergy CEO, on the earnings call
What Is FirstEnergy's Outlook?
FirstEnergy reaffirmed its 2026 Core Earnings guidance range of $2.62 to $2.82 per share, expecting results at or slightly above the midpoint. The company reaffirmed its long-term Core Earnings compound annual growth rate near the top end of 6% to 8% through 2030, underpinned by a $36 billion five-year Energize365 capital investment plan driving 10.4% rate base CAGR. Transmission investments are expected to increase by at least 25% versus the current $19 billion plan when rolling forward to 2027-2031. Opportunities to support new generation and additional transmission investment have the potential to meaningfully increase the company's investment and earnings growth profile. The company targets total shareholder return of approximately 12% with upside potential and is committed to dividend growth in line with a 60%-70% payout ratio of Core EPS. Up to 35% of incremental investments will be funded with equity/equity-like content.
FE YoY Financials
| Metric | Q3 2026 | Q3 2025 | Year over year |
|---|---|---|---|
| Revenue | $4.6B | $4.1B | +9.9% |
| Operating Income | $935.0M | $830.0M | +12.7% |
| Net Income | $557.0M | $441.0M | +26.3% |
FE Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.