FirstEnergy (FE) official guidance

FirstEnergy’s $36 billion Energize365 program for 2026 through 2030 represents an increase of nearly 30% compared to its previous five-year investment plan and results in approximately 10% compounded annual rate base growth through 2030.

In addition, we are announcing a $36 billion, 5-year capital investment program focused on improving customer reliability and grid resiliency.

FirstEnergy’s $36 billion Energize365 program for 2026 through 2030 represents an increase of nearly 30% compared to its previous five-year investment plan and results in 10% compounded annual rate base growth through 2030.

These demands, together with the critical infrastructure needed to support the regional grid, are expected to drive at least a 25% increase in the company’s current $19 billion 2026–2030 transmission investment plan when it rolls forward to 2027–2031.

FirstEnergy reaffirmed its 2026 Core Earnings guidance range of $2.62 to $2.82 per share and expects results at or slightly above the midpoint.

We are reaffirming our 2026 $6 billion capital investment plan and our Core EPS guidance range of $2.62 per share to $2.82.

FirstEnergy reaffirmed its 2026 Core Earnings guidance range of $2.62 to $2.82 per share, which is supported by the company’s capital investment plan of $6 billion in 2026.

We are on track for a successful year with expected results in line with our 2026 earnings guidance range of $2.62 to $2.82 per share.

FirstEnergy reaffirmed its 2026 Core Earnings guidance of $2.62 to $2.82 per share.

FirstEnergy reaffirmed its 2026 Core Earnings guidance of $2.62 to $2.82 per share.

FirstEnergy initiated 2026 Core (non-GAAP) Earnings guidance of $2.62 to $2.82 per share. With a midpoint of $2.72 per share, this represents 7.5% growth over the increased 2025 Core Earnings guidance midpoint of $2.53 per share and ~9% growth over the original 2025 guidance midpoint of $2.50 per share.

The long-term outlook continues to reflect a Core Earnings compound annual growth rate near the top end of the 6% to 8% range through 2030.

Based on this plan, the company is reaffirming its long-term Core Earnings compound annual growth near the top end of 6% to 8% from 2026 to 2030.

We're also reaffirming our long-term Core Earnings CAGR of 6%-8% through 2030 and targeting near the top end of that range, with growth based off our 2026 guidance midpoint of $2.72 a share.

Based on this plan, the company is reaffirming its long-term Core EPS compounded annual growth near the top end of 6-8% from 2026 to 2030.

This positions the company to deliver a core earnings per share, compounded annual growth rate near the top end of 6%-8% from 2026 to 2030.

This investment plan positions FirstEnergy to deliver Core EPS compounded annual growth near the top end of 6-8% from 2026 to 2030.

We are also reaffirming our $36 billion five-year capital investment plan and our Core EPS growth near the top end of 6%-8% through 2030, with meaningful upside opportunities that I'll describe later.

FirstEnergy's five-year, $36 billion Energize365 capital investment program will modernize the grid, renewing distribution infrastructure and strengthening transmission reliability while supporting long-term earnings growth.

FirstEnergy reaffirmed its 2026 Core Earnings guidance range of $2.62 to $2.82 per share, which is supported by the company’s capital investment plan of $6 billion in 2026.

We are reaffirming this year's capital investment plan of $6 billion and our Core Earnings guidance range of $2.62 a share to $2.82 a share, with most of the remaining earnings growth compared to 2025 materializing in the second half of the year.

This outlook is supported by the company’s Energize365 capital investment plan of $6 billion in 2026 for distribution infrastructure renewal, grid modernization and significant reliability and resiliency enhancements to the high-voltage transmission system.

This outlook is supported by the company’s Energize365 capital investment plan of $6 billion in 2026 for distribution infrastructure renewal, grid modernization and significant reliability and resiliency enhancements to the high-voltage transmission system.

FirstEnergy’s 2026 Core Earnings guidance is supported by planned capital investments of $6 billion, a 9% increase from the 2025 capital investment plan of $5.5 billion. 2026 investments are focused on distribution infrastructure renewal and grid modernization, as well as significant reliability and resiliency enhancements to the high-voltage transmission system.

Once approved by the West Virginia Public Service Commission, we will include this $2.5 billion investment in our financial plan.

On the generation side, we have a significant incremental investment opportunity associated with adding the 1.2 gigawatts of natural gas generation in West Virginia by 2031. This project at an initial estimate of $2.5 billion will be included in our long-term plan after we receive regulatory approval.

We will explore all options to fund our equity needs, including hybrid instruments, and anticipate any annual common equity issuances, including for the DRIP, to be approximately 1% of current market cap on average through the forecast period.

Our equity needs are up to $2 billion, which includes our $100 million annual DRIP program, which has historically been in place.

Company-wide, we expect our updated investment plan to translate into 10% rate base growth over the planning period.

FirstEnergy’s $36 billion Energize365 program for 2026 through 2030 represents an increase of nearly 30% compared to its previous five-year investment plan and results in 10% compounded annual rate base growth through 2030.

“Our updated and extended Energize365 investment program builds on this progress. Our $36 billion investment plan for 2026 to 2030 includes more than $19 billion of total transmission investment,” Tierney added.