FirstEnergy Q1 Profit Jumps 12.5% to $405M on Higher Rates, Data Center Demand
Summary
FirstEnergy reported a 12.5% rise in first-quarter profit to $405 million, or $0.70 per share, on $4.2 billion in revenue, exceeding prior year figures. This strong performance was primarily driven by higher electricity rates and increasing demand from power-hungry data centers. The company also reaffirmed its 2026 core earnings guidance of $2.62 to $2.82 per share, which was previously announced. The positive Q1 results, combined with a significant $36 billion capital investment plan through 2030 (a nearly 30% increase from previous plans) expected to generate 10% compounded annual rate-base growth, signal robust operational strength and future growth for the utility. Traders will be watching the execution of these capital plans and the continued impact of data center demand.
At the time of this announcement, FE was trading at $49.53 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $28.7B. The 52-week trading range was $39.28 to $52.34. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Reuters.