FirstEnergy Delivers Q2 2026 EPS of $0.50, Reaffirms Guidance and Long-Term Growth Trajectory
FE sits 19% above its 52-week low of $41.3.
Summary
FirstEnergy posted Q2 2026 Core EPS of $0.50, matching estimates, and reaffirmed its 2026 guidance and long-term growth targets. Data center demand jumped 30% sequentially, with contracted demand reaching 6.4 GW, highlighting accelerating growth opportunities.
Key Events · Earnings and Guidance · FE
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Q2 Earnings In Line
Second-quarter 2026 GAAP and Core EPS both came in at $0.50 per share, matching the company's plan and slightly below the $0.52 Core EPS in Q2 2025 due to planned maintenance expenses.
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2026 Guidance Reaffirmed
FirstEnergy reiterated its 2026 Core EPS guidance range of $2.62 to $2.82 per share, supported by a $6 billion capital investment plan for the year.
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Data Center Demand Surges
Total data center demand (contracted plus pipeline) increased 30% from Q1 2026 to 24.8 GW. Contracted demand alone rose 50% to 6.4 GW, with an additional 1.5 GW expected to be contracted within two weeks.
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Long-Term Growth Intact
The company reaffirmed its long-term Core EPS compound annual growth rate near the top end of 6% to 8% from 2026 to 2030, driven by the $36 billion Energize365 investment program.
Analysis · FE · Energy & Transportation
Second-quarter results landed in line with expectations, and management reaffirmed its full-year 2026 earnings guidance of $2.62–$2.82 per share. The long-term growth target—near the top end of a 6–8% annual range through 2030—was also reiterated, backed by a $36 billion capital investment plan. A standout development is the 30% sequential jump in total data center demand to 24.8 GW, with contracted demand surging 50% to 6.4 GW—a tangible sign that the electrification mega-trend is accelerating in FirstEnergy's service territory. The reaffirmed outlook and expanding demand pipeline reinforce the investment thesis, though the stock's reaction will hinge on whether the market had already priced in these data center wins.
At the time of this filing, FE was trading at $49.04 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $28.7B. The 52-week trading range was $41.30 to $52.34. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.