FirstEnergy Reports Strong Q1 2026 Earnings and Investment Plans

Written by Emily J. Thompson, Senior Investment Analyst

Source: Newsfilter

Updated: Apr 28 2026

0mins

Should l Buy FE?

Source: Newsfilter

FirstEnergy Corp's stock fell 3.00% and hit a 20-day low amid strong market performance, with both the Nasdaq-100 and S&P 500 up 0.84%.

The company reported Q1 2026 GAAP earnings of $0.70 per share, a 12.9% increase from the previous year, alongside a reaffirmed investment plan of $6 billion for grid modernization. This strong financial performance reflects effective cost management and a robust growth strategy, which is expected to drive future earnings growth.

Despite the stock's decline, FirstEnergy's solid earnings and investment outlook indicate a positive long-term trajectory, suggesting that the current price drop may present a buying opportunity for investors.

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Analyst Views on FE

Wall Street analysts forecast FE stock price to rise

10 Analyst Rating

4 Buy

6 Hold

0 Sell

Moderate Buy

Current: 45.880

Low

46.00

Averages

49.25

High

54.00

Current: 45.880

Low

46.00

Averages

49.25

High

54.00

Jefferies

Hold

maintain

$50 -> $52

2026-04-21

Reason

Jefferies

Price Target

$50 -> $52

AI Analysis

2026-04-21

maintain

Hold

Reason

Jefferies raised the firm's price target on FirstEnergy to $52 from $50 and keeps a Hold rating on the shares. The firm's thesis "shifts from modestly constructive to more balanced" ahead of the April 29 Q1 call, the analyst tells investors. The 2026 core EPS range of $2.62-$2.82 is intact, but what has changed is the range of regulatory outcomes in three jurisdictions that together account for roughly two-thirds of 2026 FirstEnergy-owned rate base, explains the analyst, pointing to the PECO withdrawal in Pennsylvania, the enrolled Maryland Utility RELIEF Act and the ongoing New Jersey business-model study.

Wells Fargo

Shahriar Pourreza

Overweight

maintain

$53 -> $55

2026-04-21

Reason

Wells Fargo

Shahriar Pourreza

Price Target

$53 -> $55

2026-04-21

maintain

Overweight

Reason

Wells Fargo analyst Shahriar Pourreza raised the firm's price target on FirstEnergy to $55 from $53 and keeps an Overweight rating on the shares. Following conversations with the companies, the firm revised its Q1 2026 estimates to reflect known and measurable drivers across its regulated utility coverage. Wells also raised its base value multiple to 17.5 times from 17 times.

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About FE

FirstEnergy Corp. and its subsidiaries are involved in the transmission, distribution, and generation of electricity through its segments: Distribution, Integrated and Stand-Alone Transmission. The Distribution Segment, which consists of the Ohio Companies and FirstEnergy Pennsylvania Electric Company (FE PA), distributes electricity in Ohio and Pennsylvania. The Integrated segment includes the distribution and transmission operations under Jersey Central Power & Light Company (JCP&L), Monongahela Power Company (MP) and The Potomac Edison Company (PE), as well as MP's regulated generation operations. The segment distributes electricity in New Jersey, West Virginia and Maryland, provides transmission infrastructure, and operates over 3,610 megawatts of regulated generation capacity. The Stand-Alone Transmission segment consists of its ownership in FET and KATCo, which includes transmission infrastructure owned and operated by the Transmission Companies and used to transmit electricity.

About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.

FirstEnergy to Host Q1 2026 Earnings Call

Apr 29 2026NASDAQ.COM

Earnings Call Announcement: FirstEnergy Corp. will host a conference call on April 29, 2026, at 9:00 AM ET to discuss its Q1 2026 earnings results, aiming to provide investors with the latest insights into the company's financial health and future outlook.
Live Webcast Access: Investors can access the live webcast by logging onto the investor materials page on the company's website, ensuring transparency and enhancing communication with shareholders.
Importance of Information Sharing: This call serves as a crucial communication bridge between the company and its investors, providing analysts and market participants with key financial data and management insights to facilitate informed investment decisions.
Market Reaction Expectations: While specific financial figures have yet to be disclosed, investor attention is keen on FirstEnergy's performance, and the outcomes of this call are expected to influence the company's stock price, reflecting market confidence in its growth potential.

FirstEnergy Reports Strong Q1 2026 Earnings with Increased Investments

Apr 28 2026PRnewswire

Earnings Highlights: FirstEnergy reported Q1 2026 GAAP earnings of $0.70 per share, a 12.9% increase from $0.62 in Q1 2025, reflecting robust performance and enhanced profitability in the electric market.
Core Earnings Growth: The company's Core Earnings (non-GAAP) for Q1 2026 were $0.72 per share, up 7.5% from $0.67 in Q1 2025, demonstrating effective strategies in managing operating costs and investment returns.
Investment Guidance Reaffirmed: FirstEnergy reaffirmed its 2026 Core Earnings guidance range of $2.62 to $2.82 per share, with a planned $6 billion investment in 2026 for grid modernization and infrastructure renewal, expected to drive future earnings growth.
Increased Capital Expenditures: The company deployed $1.4 billion in customer-focused investments in Q1, representing a 33% increase year-over-year, with 90% of this increase directed towards enhancing grid reliability and resilience, further solidifying its market position.