FirstEnergy outlines $26B CapEx plan (2024-2028), 6-8% EPS growth target; FET sale strengthens balance sheet

FIRSTENERGY CORP

CapEx grows from $4.3B in 2024 to $6.2B in 2028, ~75% under formula rate recovery.
Consolidated rate base forecasted at $29B in 2024, rising to $41B in 2028 (incl. Brookfield share); ~9% avg annual growth.
Annual operating EPS growth target of 6-8%; no incremental equity needs expected through 2028 (ex. ~$100M/yr employee benefit programs).
FET 30% interest sale closed Mar 2024 for $3.5B; $2.3B used to repay debt maturities, remaining $1.2B expected later in 2024.
Regulatory: PA base case filed requesting $502M; OH base case for $93.6M; WV ($105M) and NJ ($85M) base rate adjustments implemented in 2024.

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