FirstEnergy Q4 Revenue Jumps 19.6% to $3.8B, Unveils $36B Grid Capex Plan
FirstEnergy reported Q4 revenue of $3.8B, up 19.6% year-on-year, beating estimates by 16.9%, with EPS of $0.53 versus the $0.52 consensus. The utility outlined a $36B 2026-2030 grid modernization capex plan and energized a $6.6M substation serving 2,400 customers.
1. Q4 Earnings Beat Estimates
FirstEnergy posted Q4 revenue of $3.8 billion, a 19.6% increase year-over-year, surpassing the $3.25 billion estimate by 16.9%. EPS came in at $0.53 versus the $0.52 consensus, driven by strong integrated revenues of $1.42 billion (versus $1.18 billion estimate) and distribution revenues of $1.91 billion (up 17.5% YOY).
2. Major Grid Modernization Capex Plan
The company committed $36 billion between 2026 and 2030 under its Energize365 program to modernize transmission and distribution infrastructure. This multi-year investment targets advanced automation, reliability enhancements and support for regional growth.
3. New Berkeley County Substation
In December, FirstEnergy completed a $6.6 million Potomac Edison substation near Spring Mills High School, adding capacity for 2,400 customers. The facility employs smart technology to isolate outages quickly and restore power remotely, reducing outage duration and scaling to meet new demand.