Analyst Consensus ?
ConsensusHold24 ratings
Bullish1145.8%
Neutral1354.2%
Bearish00.0%
1 unmapped firm rating excluded from the percentages.
FirstEnergy Corp. · FE · FY2024 Q4 · Calendar Q1 2025
FirstEnergy Outlook Improves, but Financing and Regulatory Risks Remain
The supplied analysis is constructive on FirstEnergy's earnings trajectory: rate-case approvals, grid investment, and data-center demand support growth, but the thesis remains conditional on financing costs and regulatory execution.
Reported After market closeNYSEUtilities
$26.70B market cap
80quality score
Earnings scorecard
Reported versus consensus
Reported EPS
—
Consensus $0.70
EPS surprise
—
Reported versus consensus
Reported revenue
—
Consensus $3.53B
Revenue surprise
—
Reported versus consensus
Market reaction
event-close to next-session close
Stock move
-10.5%
Event window
SPY move
-1.6%
Same window
Abnormal move
-8.9%
Stock minus SPY
Volume
5.9×
Versus trailing sessions
Subsequent drift
+2.4%
Up to 20 sessions
FESPY benchmark
Ask FN2 about FE FY2024 Q4
Transcript, numbers and history already loaded
What drove FE's -10.5% move after FY2024 Q4 earnings?What changed in FE's guidance and outlook in FY2024 Q4?Give me the bull and bear case for FE after FY2024 Q4 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Compared with the prior-quarter analysis, the current analysis shifts guidance sentiment from maintained to raised. The company moved from a focus on its earlier plan and regulatory progress to a 2025 outlook supported by approved rate cases, a larger capital program, and balance-sheet de-risking.
Guidance delta
Management's guidance sentiment moved from maintained in the prior-quarter analysis to raised in the current analysis, with 2025 core earnings guidance of $2.40-$2.60 per share.
Key takeaways
- Management said 2024 earnings met guidance, with GAAP EPS of $1.70 and operating EPS of $2.63.
- Approved rate cases added roughly $450 million of annual revenue and support the 2025 core EPS outlook.
- The capital plan emphasizes grid modernization, smart meters, data-center projects, and potential West Virginia generation.
- Management highlighted stronger credit quality after the transmission stake sale, while financing costs and regulatory execution remain key watch items.
Management priorities
- Execute the $5 billion 2025 capital plan and the $28 billion five-year investment program.
- Advance Ohio Grid Mod II and other grid-modernization investments.
- Pursue data-center power projects and evaluate dispatchable generation in West Virginia.
- Progress the Ohio ESP-6 filing and joint PJM transmission projects with Dominion and AEP.
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Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$46.15Current
$41Low
$49.36Average
$56High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 24, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Morgan Stanley | Overweight | Overweight | Maintain | Oct 21, 2026 |
| JP Morgan | Neutral | Neutral | Maintain | Oct 19, 2026 |
| Barclays | Overweight | Overweight | Maintain | Oct 12, 2026 |
| UBS | Neutral | Neutral | Maintain | Jun 11, 2026 |
| TD Cowen | Buy | Hold | Upgrade | May 15, 2026 |
| Jefferies | Hold | Hold | Maintain | Apr 21, 2026 |
| Scotiabank | Sector Outperform | Sector Outperform | Maintain | Feb 19, 2026 |
| Wolfe Research | Outperform | Peer Perform | Upgrade | Jan 27, 2026 |
| Wells Fargo | Overweight | Overweight | Maintain | Jan 20, 2026 |
| Mizuho | Neutral | Neutral | Maintain | Oct 24, 2025 |
| Keybanc | Overweight | Downgrade | Oct 15, 2025 | |
| Evercore ISI Group | Outperform | Outperform | Maintain | Apr 28, 2025 |
| B of A Securities | Neutral | Underperform | Upgrade | Apr 23, 2025 |
| Guggenheim | Buy | Buy | Maintain | Apr 7, 2025 |
| Seaport Global | Neutral | Buy | Downgrade | Oct 31, 2024 |
| Argus Research | Buy | Hold | Upgrade | Sep 20, 2024 |
| RBC Capital | Outperform | Outperform | Maintain | Sep 6, 2023 |
| Citigroup | Neutral | Neutral | Maintain | Jan 16, 2020 |
| Bank of America | Neutral | Buy | Downgrade | Oct 24, 2019 |
| Deutsche Bank | Hold | Hold | Maintain | Jul 31, 2017 |
| Goldman Sachs | Neutral | Sell | Upgrade | Jan 17, 2017 |
| BGC FInancial | Buy | Hold | Upgrade | Aug 6, 2014 |
| Credit Suisse | Neutral | Outperform | Downgrade | May 28, 2013 |
| BMO Capital | Market Perform | Market Perform | Maintain | May 8, 2013 |
| ISI Group | Hold | Hold | Maintain | Dec 14, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $46.15. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| HSBC | Analyst unavailable | $50 | $45.51 | +8.3% | Oct 22, 2026 |
| New Street | Analyst unavailable | $47 | $44.8 | +1.8% | Oct 13, 2026 |
| Mizuho Securities | Paul Fremont | $47 | $45 | +1.8% | Oct 12, 2026 |
| Barclays | Analyst unavailable | $54 | $48.71 | +17.0% | Jul 31, 2026 |
| Barclays | Nicholas Campanella | $55 | $48.54 | +19.2% | Jul 20, 2026 |
| Morgan Stanley | Analyst unavailable | $52 | $47.66 | +12.7% | Jun 24, 2026 |
| UBS | William Appicelli | $51 | $46.87 | +10.5% | Jun 11, 2026 |
| New Street | Analyst unavailable | $52 | $48.94 | +12.7% | Apr 21, 2026 |
| Wells Fargo | Shahriar Pourreza | $55 | $49.45 | +19.2% | Apr 21, 2026 |
| Scotiabank | Analyst unavailable | $56 | $49.37 | +21.3% | Feb 19, 2026 |
| Mizuho Securities | Anthony Crowdell | $51 | $48.94 | +10.5% | Feb 19, 2026 |
| Wolfe Research | Analyst unavailable | $50 | $46.77 | +8.3% | Jan 27, 2026 |
| Barclays | Analyst unavailable | $50 | $47.37 | +8.3% | Jan 22, 2026 |
| UBS | Analyst unavailable | $46 | $44.03 | -0.3% | Dec 17, 2025 |
| Wells Fargo | Shahriar Pourreza | $54 | $46.44 | +17.0% | Oct 27, 2025 |
| UBS | Analyst unavailable | $50 | $46.52 | +8.3% | Oct 24, 2025 |
| Mizuho Securities | Analyst unavailable | $50 | $46.68 | +8.3% | Oct 24, 2025 |
| Jefferies | Julien Dumoulin-Smith | $47 | $46.78 | +1.8% | Oct 21, 2025 |
| Morgan Stanley | David Arcaro | $50 | $47.1 | +8.3% | Oct 21, 2025 |
| Scotiabank | Analyst unavailable | $49 | $47.1 | +6.2% | Oct 8, 2025 |
| Barclays | Analyst unavailable | $49 | $43.64 | +6.2% | Aug 25, 2025 |
| UBS | Analyst unavailable | $44 | $40.51 | -4.7% | Jun 24, 2025 |
| Mizuho Securities | Analyst unavailable | $43 | $42.72 | -6.8% | Apr 28, 2025 |
| Scotiabank | Analyst unavailable | $46 | $42.34 | -0.3% | Apr 25, 2025 |
| Scotiabank | Analyst unavailable | $44 | $38.77 | -4.7% | Feb 28, 2025 |
| KeyBanc | Sophie Karp | $48 | $43.72 | +4.0% | Oct 22, 2024 |
| Jefferies | Julien Dumoulin-Smith | $46 | $42.71 | -0.3% | Oct 14, 2024 |
| Barclays | Nicholas Campanella | $46 | $43.46 | -0.3% | Oct 7, 2024 |
| Morgan Stanley | David Arcaro | $51 | $43.72 | +10.5% | Sep 25, 2024 |
| Argus Research | Marie Ferguson | $50 | $43.64 | +8.3% | Sep 20, 2024 |
| KeyBanc | Sophie Karp | $46 | $44.47 | -0.3% | Sep 16, 2024 |
| Scotiabank | Andrew Weisel | $45 | $44.06 | -2.5% | Sep 12, 2024 |
| Barclays | Nicholas Campanella | $40 | $38.59 | -13.3% | Jul 9, 2024 |
| KeyBanc | Sophie Karp | $43 | $39.66 | -6.8% | Jun 5, 2024 |
| Mizuho Securities | Paul Fremont | $41 | $40.26 | -11.2% | Jun 3, 2024 |
| Morgan Stanley | Analyst unavailable | $47 | $42 | +1.8% | Dec 15, 2022 |
| Morgan Stanley | Analyst unavailable | $45 | $37.8 | -2.5% | Nov 11, 2022 |
| Wells Fargo | Analyst unavailable | $44 | $39.33 | -4.7% | Jul 28, 2022 |
| Morgan Stanley | Analyst unavailable | $49 | $37.58 | +6.2% | Jul 21, 2022 |
| Mizuho Securities | Analyst unavailable | $40 | $41.83 | -13.3% | Jun 7, 2022 |
| Morgan Stanley | Analyst unavailable | $51 | $42.71 | +10.5% | May 23, 2022 |
| Credit Suisse | Analyst unavailable | $51 | $45.44 | +10.5% | Apr 26, 2022 |
| Wells Fargo | Analyst unavailable | $49 | $46.01 | +6.2% | Apr 25, 2022 |
| Morgan Stanley | Analyst unavailable | $53 | $48.44 | +14.8% | Apr 20, 2022 |
| Barclays | Eric Beaumont | $41 | $37.32 | -11.2% | Nov 30, 2021 |
| Goldman Sachs | Michael Lapides | $46 | $35.43 | -0.3% | Apr 27, 2021 |
Track every rating change on FE the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationFirstEnergy Corp. is an American utility company that, through its subsidiaries, provides comprehensive electricity services, encompassing generation, transmission, and distribution throughout the United States. Its operations are structured into Regulated Distribution and Regulated Transmission segments. The company leverages a diverse portfolio of power sources, operating facilities that produce electricity from coal, nuclear, hydroelectric, natural gas, wind, and solar technologies. Its vast infrastructure includes 24,074 circuit miles of overhead and underground transmission lines, complemented by an extensive electric distribution network featuring 273,295 miles of overhead pole lines and underground conduits for primary, secondary, and street lighting circuits. FirstEnergy serves approximately 6 million customers across six states: Ohio, Pennsylvania, West Virginia, Maryland, New Jersey, and New York. The corporation was established in 1996 and is based in Akron, Ohio.
Historical context
All FE earningsUtilities peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| PCG PG&E Corporation | FY2026 Q3 · Calendar Q4 2026 | -0.8% | -1.3% | PG&E Reaffirms Guidance While Seeking Credit and Policy Clarity |
Latest beats and misses
Who reports nextBeat on EPS
- FCNCAFY2026 Q3 · October 23, 2026+19.9% EPS+8.2% move
- FCNCNFY2026 Q3 · October 23, 2026+19.9% EPS+0.2% move
- FCNCOFY2026 Q3 · October 23, 2026+19.9% EPS+1.0% move
- FCNCPFY2026 Q3 · October 23, 2026+19.9% EPS+1.0% move
- RDYFY2027 Q2 · October 23, 2026+24.0% EPS-0.2% move
- SLBFY2026 Q3 · October 23, 2026+3.7% EPS+7.1% move
Missed on EPS
- INFYFY2027 Q2 · October 23, 2026-4.8% EPS-6.6% move
- BBDFY2026 Q3 · October 22, 2026-7.7% EPS+3.0% move
- SNAFY2026 Q3 · October 22, 2026-5.9% EPS-3.4% move
- SPOTFY2026 Q3 · October 22, 2026-11.6% EPS+11.1% move
- VRSNFY2026 Q3 · October 22, 2026-2.0% EPS-0.9% move
- HBANMFY2026 Q3 · October 22, 2026-5.3% EPS+0.5% move
Get the FE recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2025-02-14T17:41:00.567495+00:00
- Polygon adjusted daily market bars · 2026-10-24T14:40:44.508159+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-24T14:40:44.505540+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-24. For educational purposes only; not investment advice.