FE

EX-99.1

2 ex991-q32026newsrelease.htm

EX-99.1

Document

Exhibit 99.1

FirstEnergy Corp.                            For Release: Oct. 27, 2026

341 White Pond

Akron, Ohio 44320

www.firstenergycorp.com

News Media Contact:                            Investor Contact:

Michon Ellis                                Karen Sagot

(312) 330-3733                                (330) 761-4286

FIRSTENERGY DELIVERS STRONG THIRD QUARTER RESULTS,

BUILDS MOMENTUM FOR LONG-TERM GROWTH

Reports third quarter 2026 GAAP earnings of $0.96 per share and

Core Earnings (non-GAAP) of $0.98 per share

Reports year-to-date GAAP earnings of $2.16 per share and Core Earnings of

$2.20 per share, a 9% increase compared to 2025

Reaffirms 2026 Core Earnings guidance range of $2.62 to $2.82 per share

and expects results at or slightly above the midpoint

Reaffirms Core Earnings compound annual growth rate near the top end of 6% to 8% through 2030,

supported by a $36 billion, five-year capital investment plan

AKRON, Ohio – FirstEnergy Corp. (NYSE: FE) today reported third quarter 2026 GAAP earnings of $557 million, or $0.96 per basic and diluted share, on revenue of $4.6 billion, compared with GAAP earnings of $441 million, or $0.76 per basic and diluted share, on revenue of $4.1 billion in the third quarter of 2025. GAAP results include the impact of special items listed below.

Core Earnings (non-GAAP) for the third quarter of 2026 were $0.98 per share, compared with $0.83 per share in the third quarter of 2025. Results reflect continued implementation of FirstEnergy’s investment strategy, financial discipline and improved operations across the company’s service territory.

For the first nine months of 2026, FirstEnergy reported GAAP earnings of $1.3 billion, or $2.16 per basic and diluted share, on revenue of $12.4 billion. This compares with GAAP earnings of $1.1 billion, or $1.85 per basic and diluted share, on revenue of $11.3 billion for the first nine months of 2025.

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Year-to-date Core Earnings through September 30, 2026, were $2.20 per share, a 9% increase from $2.02 per share in the same period of 2025.

Brian X. Tierney, FirstEnergy Board Chairman, President and Chief Executive Officer: “We're delivering on our commitments while positioning FirstEnergy for the next phase of growth. Our strong execution gives us confidence in our long-term outlook. We’re taking steps necessary to deliver value for our customers and shareholders.”

Outlook

FirstEnergy reaffirmed its 2026 Core Earnings guidance range of $2.62 to $2.82 per share and expects results at or slightly above the midpoint.

Underpinning the company's growth is its five-year, $36 billion Energize365 capital investment, which will modernize the grid, renew distribution infrastructure and strengthen transmission reliability. In the first nine months of 2026, FirstEnergy deployed $4.9 billion to advance Energize365.

The long-term outlook continues to reflect a Core Earnings compound annual growth rate near the top end of the 6% to 8% range through 2030. Opportunities to support new generation and additional transmission investment have the potential to meaningfully increase the company’s investment and earnings growth profile.

Expanding Generation Opportunities in West Virginia

FirstEnergy is moving to expand generation in West Virginia as electricity demand grows across the state, creating new opportunities to serve customers and support economic development.

The company has secured turbines through a reservation agreement with Siemens for the proposed Maidsville Energy Center, with delivery expected in 2030. It is pursuing approval from the West Virginia Public Service Commission for the combined cycle gas generating facility, with a final order projected in the fourth quarter of 2026.

Tierney added: “Maidsville is an important investment on its own, but we see it as the first of a broader set of opportunities in West Virginia. The state has the potential to become a major center for new electricity generation, and FirstEnergy is taking strategic steps to capture that opportunity. We're working with prospective customers, advancing new generation projects and securing the equipment needed to move forward. Our focus is on meeting growing demand while protecting existing customers and delivering lasting economic benefits for the communities we serve.”

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Transmission: A Foundation for Long-Term Growth

Transmission remains a foundational component of FirstEnergy's business and investment strategy. With a transmission network in the heart of PJM, which serves more than 65 million people, FirstEnergy plays a critical role in connecting the grid and delivering power where it is needed.

Growing electricity demand is creating opportunities for additional transmission investment. Across its service territory, FirstEnergy has 7.9 gigawatts of contracted demand from large-load customers, nearly double since the beginning of the year, and is in active negotiations f

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