FirstEnergy Corp. Q1 FY2026 earnings call

• Brian mentioned first quarter core earnings 7.5% above last year, on track for 2026 earnings guidance range. • Team executed well despite storms, investing in electric system for reliability, resiliency, customer experience. • Completed key hires, including Chris Beam as president of West Virginia and Maryland, Dan Puskas as CIO. • Business units working with stakeholders on investment plans, focusing on infrastructure, generation, transmission. • Affordability a focus, rates 20% below in-state peers, discussing with officials/regulators. • Investment plans for transmission, generation in West Virginia, data center growth

No specific detailed absolute financial performance and revenue contribution % for each product segment provided in detail in the transcript

• Reaffirm 2026 capital investment plan of $6 billion and core earnings guidance range $2.62 - $2.82 per share. • Reaffirm long-term core earnings CAGR 6 - 8% through 2030, targeting top end

• Demand and supply imbalance in capacity market construct. • Uncertainties in PJM's reliability backdrop procurement auction details. • Potential impacts of equipment supplier pricing on affordability in West Virginia generation project. • Regulatory uncertainties in various states' rate cases and projects

Q: Char Perez asked about West Virginia load, timing of spend, turbine queue; A: Brian and John discussed turbine delivery in 2031, approval in second half of year, rate-based growth.

Q: Nick Campanella asked about West Virginia frameworks, funding mix; A: Brian talked about replicating successful models, John mentioned up to 35% equity funding.

Q: Steve Fleischman asked about Pennsylvania rate case, West Virginia plant costing; A: Brian discussed engagement with officials, confidence in $2.5 billion plant cost.

Q: Jeremy Toney asked about transmission PGM open window, affordability in New Jersey; A: Brian talked about past transmission success, John mentioned transmission CapEx plan.

Q: Andrew Wiseau asked about O&M cost cuts; A: Brian discussed sustainable cost savings from predictive decision-making.

Q: Ross Fowler asked about FERC, backstop procurement; A: Brian talked about large loads paying fair share, regulators in Ohio agreeing with views.

Q: Anthony Cordell asked about regulators' view on capacity markets; A: Brian said regulators in Ohio and deregulated states agree with not owning generation.

Q: Carly Davenport asked about New Jersey rate case, Maryland omnibus bill; A: Brian said no surprise in New Jersey rate case, John said early to tell on Maryland omnibus bill