FirstEnergy quarterly profit rises on data center demand, operations focus

• The company reaffirmed its full-year core earnings expectations range of $2.62 to $2.82 per share and continued to target compound annual growth near the top end of 6% to 8% from 2026 to 2030.
• The company posted a profit of $288 million, or 50 cents per share, for the quarter ended June 30, compared with $268 million, or 46 cents per share, a year earlier.
• Peer NextEra Energy said earlier this month it is leaning into rising data-center demand and expanding its deal with Alphabet's Google Cloud.
• However, FirstEnergy's adjusted profit of 50 cents per share fell short of estimates of 51 cents.

July 28 (Reuters) - Utility FirstEnergy reported higher second-quarter profit on Tuesday, supported by rising data center demand and more efficient operations across its services.

• U.S. electricity demand hit record levels in 2025 and is expected to accelerate further as large technology firms ramp up power usage at fast-growing data centers, with some individual sites using as much energy as an entire city.
• The company said data center demand (contracted and pipeline) increased 30% since the first quarter, with contracted demand at 6.4 GW. West Virginia demand surged 137% to 4.3 GW.
• FirstEnergy serves about 6 million customers in the areas of Ohio, Pennsylvania, New Jersey, West Virginia and Maryland.