FirstEnergy Q1 GAAP EPS $0.51, operating EPS $0.60; affirms 2023 guidance

FIRSTENERGY CORP

2023-Q1 EPS reported $0.51 revenue$3,231,000,000

Q1 GAAP earnings $292M ($0.51/share) vs $288M ($0.51) YoY; revenue $3.2B vs $3.0B.
Operating EPS $0.60, in line with midpoint guidance; special items total $0.09/share.
Mild winter weather reduced earnings by $0.12/share vs Q1 2022; weather-adjusted residential sales up >5%.
Regulated transmission investments ~$350M in Q1, up 60% YoY; full-year operating guidance $2.44-$2.64 reaffirmed.
Brian Tierney to become President & CEO effective June 1, succeeding interim CEO John Somerhalder.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

FIRSTENERGY CORP reported the three months ended March 31, 2023 results: revenue $3.2 billion, net income $292 million, EPS $0.51 per basic and diluted share. Guidance reaffirmed.

Period: the three months ended March 31, 2023
Revenue: $3.2 billion
Net income: $292 million
EPS: $0.51 per basic and diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

FirstEnergy Corp. (NYSE: FE) today reported first quarter 2023 GAAP earnings of $292 million, or $0.51 per basic and diluted share, on revenue of $3.2 billion.

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Source: SEC EDGAR

accession 0001031296-23-000030

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