FIRSTENERGY CORP

For the period ended Mar 31, 2024. Filed Apr 25, 2024.

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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2024 · Filed Apr 25, 2024

FE$46.62+0.4%Stored close · as of Nov 9, 2026

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Contents

FirstEnergy Corp

CONSOLIDATED STATEMENTS OF INCOME

	For the Three Months Ended March 31,
(In millions, except per share amounts)	2024	2023
REVENUES:
Distribution services and retail generation	$2,695	$2,680
Transmission	515	460
Other	77	91
Total revenues(1)	3,287	3,231
OPERATING EXPENSES:
Fuel	105	133
Purchased power	1,036	1,124
Other operating expenses	1,006	846
Provision for depreciation	381	361
Deferral of regulatory assets, net	(164)	(80)
General taxes	311	296
Total operating expenses	2,675	2,680
OPERATING INCOME	612	551
OTHER INCOME (EXPENSE):
Equity method investment earnings (Note 1)	21	56
Miscellaneous income, net	44	35
Interest expense	(305)	(263)
Capitalized financing costs	30	21
Total other expense	(210)	(151)
INCOME BEFORE INCOME TAXES	402	400
INCOME TAXES	135	90
NET INCOME	$267	$310
Income attributable to noncontrolling interest	14	18
EARNINGS ATTRIBUTABLE TO FIRSTENERGY CORP.	$253	$292
EARNINGS PER SHARE ATTRIBUTABLE TO FIRSTENERGY CORP. (Note 3):
Basic	$0.44	$0.51
Diluted	$0.44	$0.51
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING:
Basic	574	572
Diluted	576	573

(1) Includes excise and gross receipts tax collections of $115 million and $109 million during the three months ended March 31, 2024 and 2023, respectively.

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