FirstEnergy Profit Climbs to $557 Million as Utility Plans $36 Billion Grid Investment

FirstEnergy reported higher third-quarter earnings on October 27, 2026, while outlining additional electricity-network investment as large customers seek more power across its service territory. The Ohio-based utility recorded net income of $557 million, or $0.96 per diluted share, on revenue of $4.6 billion. In the corresponding quarter of 2025, it earned $441 million, or $0.76 per share, on revenue of $4.1 billion.

Core earnings, which exclude specified items and therefore differ from generally accepted accounting principles, rose to $0.98 per share from $0.83 a year earlier. The company maintained its full-year 2026 core earnings guidance of $2.62 to $2.82 per share, saying results were expected to be at or slightly above the midpoint of that range. The outlook is a management projection, not a final result.

FirstEnergy said its five-year Energize365 capital program totals $36 billion and is intended to renew distribution equipment, expand transmission and improve grid reliability. It reported spending $4.9 billion on the program during the first nine months of 2026. The scale of planned investment reflects the long-term requirements of electricity networks, but the projects will be subject to execution, regulatory and financing conditions.

Contracted electricity demand from large customers reached 7.9 gigawatts across FirstEnergy's service area, nearly twice the level at the start of the year, the company said. It is negotiating with prospective customers representing about 4 additional gigawatts. Contracted demand is not the same as electricity already consumed, and discussions do not guarantee that every proposed connection will proceed.

The company expects the next version of its transmission investment plan, covering 2027 through 2031, to be at least 25% larger than its current $19 billion plan. That would represent an increase in intended capital expenditure rather than immediate additional earnings.

FirstEnergy also said it reserved Siemens turbines for a proposed combined-cycle gas generating facility at Maidsville, West Virginia, with delivery expected in 2030. The project remains subject to state regulatory approval. The utility's results illustrate how demand from data centers and other large electricity users is influencing infrastructure plans, while highlighting the difference between committed projects, prospective load and financial forecasts.