Firstenergy Corp

Company facts

Industry

Electric Services

Headquarters

Akron, Ohio

Most recent report

10-Q, filed Oct 28, 2026

Incorporated

Ohio

Filings on record

1,008+ filings

On EDGAR

CIK 1031296

Fiscal year ends

December

Filer status

Large accelerated filer

What to read: Sep 2026 10-Q

SECSift found 4 of 13 sections worth reading, with 3 positive, 15 notable, and 7 negative flags.

• Financial Statements (Item 1)

  Financial statements and notes with error corrections, regulatory penalties, and debt details.
  Notable

  • FirstEnergy recognized a $69M state tax benefit in Q3 2026 from an uncertain tax position being effectively settled.
  • JCP&L received $82M in duplicate ZEC refunds in May 2026, with $56M regulatory liability remaining as of September 30, 2026.
  • JCP&L filed a base rate case seeking a $253M net increase in distribution revenues, with an ROE of 10.2%.
  • MP and PE filed a CPCN for a $2.7B gas plant and solar capacity, with a final order expected in Q4 2026.
  • ATSI's estimated refund obligation for RTO incentive adder removal is $51M as of September 30, 2026.
  Negative

  • JCP&L revised 2023-2025 financials for a smart meter cost error, reducing net income by $7M in 9M 2025.
  • NJBPU staff recommended a $44M penalty against JCP&L for failing reliability levels in 2022-2024.
  • FET's maximum support obligation for Valley Link credit facility increased to $221M on October 21, 2026.

• Management's Discussion (Item 2)

  MD&A with detailed segment results, regulatory cases, liquidity, and data center growth.
  Positive

  • Contracted ~8 GW of data center capacity; active negotiations for ~4 GW more, driving investment plan growth.
  • Moody's revised FE's outlook to positive from stable in March 2026, affirming Baa3 rating.
  • Earnings attributable to FE up 26% to $557M in Q3 2026, driven by transmission investments and higher demand.
  Notable

  • Energize365 plan raised to $36B for 2026-2030, 25% higher than prior plan, with up to $2B equity-like funding.
  • Ohio Companies filed three-year rate plan seeking $254M first-year increase; hearings start March 2027.
  • Net deficit in working capital of ~$5.5B at Sept 30, 2026, but company says cash flow and liquidity sufficient.
  • Net cash from operations fell to $2.1B (9mo 2026) from $2.6B, due to Ohio refunds and higher storm costs.
  • Capital investments rose to $4.6B (9mo 2026) from $3.8B, led by Distribution (+$359M) and Integrated (+$251M).
  • Ohio Companies paid ~$266M of $275M restitution/refunds to customers through Sept 30, 2026.
  • Winter Storm Fern caused $145M in PJM charges for MP/PE, deferred for future ENEC recovery.
  Negative

  • Maryland Utility RELIEF Act may affect PE's cost recovery, authorized returns, and future earnings.
  • West Virginia base rate appeal pending; first-phase rates effective Aug 2026 but outcome uncertain.
  • Ohio Companies' base rate case resulted in net $5M revenue decrease after rehearing; appeal to Supreme Court of Ohio pending.
  • Securities class action recertified; FE believes loss is probable but cannot estimate range.

• Legal Proceedings (Item 1)

  Cross-references to notes with regulatory and contingency details; likely material.
  Notable

  • Section cross-references to Notes 9 and 10 for legal proceedings details.

• Other Information (Item 5)

  Credit facility amendments extend maturities and boost LC capacity by $300M.
  Notable

  • All credit facilities extended by one year; maturities now 2030 or 2031.
  • LC commitment for MP and PE facility increased from $100M to $400M.

What changed: Sep 2026 vs. Jun 2026

About 13% of FE's Sep 2026 10-Q is new information. 140 paragraphs were added, 438 changed, and 115 removed. Below are the most important lines SECSift identified.

• Item 2 293
• Item 1 175
• Item 5 14
• Item 6 3
• Item 4 1
• Item 1A 1