FIRSTENERGY CORP

For the period ended Sep 30, 2026. Filed Oct 28, 2026.

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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.

Sep 30, 2026 · Filed Oct 28, 2026

FE$46.48-0.3%Stored close · as of Nov 10, 2026

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Contents

FirstEnergy Pennsylvania Electric Company

CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME

	For the Three Months Ended September 30,		For the Nine Months Ended September 30,
(In millions)	2026	2025	2026	2025
REVENUES:
Revenues - non-affiliates	$1,187	$1,068	$3,359	$3,007
Revenues - affiliates	4	5	13	16
Gross receipts tax collections	73	66	207	186
Total revenues	1,264	1,139	3,579	3,209
OPERATING EXPENSES:
Purchased power	617	529	1,698	1,436
Other operating expenses(1)	317	225	910	770
Provision for depreciation	85	81	255	238
Amortization (deferral) of regulatory assets, net	(59)	32	(139)	(50)
General taxes	79	73	228	208
Total operating expenses	1,039	940	2,952	2,602
OPERATING INCOME	225	199	627	607
OTHER INCOME (EXPENSE):
Interest income - affiliates	4	4	15	13
Miscellaneous income, net	16	12	47	39
Interest expense - non-affiliates	(52)	(47)	(156)	(142)
Interest expense - affiliates	(6)	(6)	(18)	(18)
Capitalized financing costs	5	4	14	10
Total other expense	(33)	(33)	(98)	(98)
INCOME BEFORE INCOME TAXES	192	166	529	509
INCOME TAXES	25	32	101	114
NET INCOME	$167	$134	$428	$395
STATEMENTS OF COMPREHENSIVE INCOME
NET INCOME	$167	$134	$428	$395
OTHER COMPREHENSIVE INCOME:
Pension and OPEB prior service costs	—	(1)	—	(1)
Other comprehensive income	—	(1)	—	(1)
Income taxes on other comprehensive income	—	—	—	—
Other comprehensive income, net of tax	—	(1)	—	(1)
COMPREHENSIVE INCOME	$167	$133	$428	$394

(1)Includes affiliated operating expenses of $27 million and $29 million for the three months ended September 30, 2026, and 2025, respectively, and $84 million and $100 million for the nine months ended September 30, 2026, and 2025, respectively.

CONSOLIDATED BALANCE SHEETS

(In millions, except share amounts)	September 30, 2026	December 31, 2025
ASSETS
CURRENT ASSETS:
Receivables -
Customers	$697	$751
Less — Allowance for uncollectible customer receivables	23	30
	674	721
Affiliated companies	32	42
Other	79	63
Prepaid taxes and other	74	29
	859	855
PROPERTY, PLANT AND EQUIPMENT:
In service	12,618	11,969
Less — Accumulated provision for depreciation	3,378	3,318
	9,240	8,651
Construction work in progress	469	311
	9,709	8,962
DEFERRED CHARGES AND OTHER ASSETS:
Goodwill	962	962
Regulatory assets	349	109
Investments	14	14
Prepaid pension and OPEB costs	167	142
Other	145	148
	1,637	1,375
TOTAL ASSETS	$12,205	$11,192
LIABILITIES AND EQUITY
CURRENT LIABILITIES:
Currently payable long-term debt	$—	$300
Short-term borrowings - affiliated companies	212	328
Accounts payable -
Affiliated companies	82	14
Other	314	340
Accrued taxes	72	52
Accrued interest	47	44
Customer deposits	137	131
Other	97	102
	961	1,311
NONCURRENT LIABILITIES:
Long-term debt and other long-term obligations	4,279	3,434
Accumulated deferred income taxes, net	1,805	1,703
Retirement benefits	9	9
Other	355	308
	6,448	5,454
TOTAL LIABILITIES	7,409	6,765
COMMON STOCKHOLDER'S EQUITY:
Common stock and other paid-in capital, no par value, 10,000 shares authorized, 1,000 shares outstanding	2,639	2,633
Accumulated other comprehensive loss	(8)	(8)
Retained earnings	2,165	1,802
TOTAL COMMON STOCKHOLDER'S EQUITY	4,796	4,427
COMMITMENTS, GUARANTEES AND CONTINGENCIES (NOTE 10.)
TOTAL LIABILITIES AND COMMON STOCKHOLDER'S EQUITY	$12,205	$11,192

CONSOLIDATED STATEMENTS OF COMMON STOCKHOLDER’S EQUITY

Common Stock · Other Paid-In Capital · AOCI · Retained Earnings · Total Stockholder's Equity
(In millions, except share amounts) · Number of Shares · Carrying Value
Balance, January 1, 2026	1,000	$—	$2,633	$(8)	$1,802	$4,427
Net income	—	—	—	—	170	170
Stock-based compensation(1)	—	—	2	—	—	2
Cash dividends declared on common stock	—	—	—	—	(65)	(65)
Balance, March 31, 2026	1,000	$—	$2,635	$(8)	$1,907	$4,534
Net income	—	—	—	—	91	91
Stock-based compensation(1)	—	—	2	—	—	2
Balance, June 30, 2026	1,000	$—	$2,637	$(8)	$1,998	$4,627
Net income	—	—	—	—	167	167
Stock-based compensation(1)	—	—	2	—	—	2
Balance, September 30, 2026	1,000	$—	$2,639	$(8)	$2,165	$4,796

Common Stock · Other Paid-In Capital · AOCI · Retained Earnings · Total Stockholder's Equity
(In millions, except share amounts) · Number of Shares · Carrying Value
Balance, January 1, 2025	1,000	$—	$2,627	$(7)	$1,559	$4,179
Net income	—	—	—	—	157	157
Stock-based compensation(1)	—	—	1	—	—	1
Cash dividends declared on common stock	—	—	—	—	(85)	(85)
Balance, March 31, 2025	1,000	$—	2,628	$(7)	$1,631	$4,252
Net income	—	—	—	—	104	104
Stock-based compensation(1)	—	—	2	—	—	2
Balance, June 30, 2025	1,000	$—	$2,630	$(7)	$1,735	$4,358
Net income	—	—	—	—	134	134
Other comprehensive income	—	—	—	(1)	—	(1)
Stock-based compensation(1)	—	—	2	—	—	2
Balance, September 30, 2025	1,000	$—	$2,632	$(8)	$1,869	$4,493

(1) In the form of FE common equity granted to certain FE PA employees primarily related to the 401(k) Savings Plan.

CONSOLIDATED STATEMENTS OF CASH FLOWS

	For the Nine Months Ended September 30,
(In millions)	2026	2025
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$428	$395
Adjustments to reconcile net income to net cash from operating activities-
Depreciation and amortization	301	231
Deferred storm restoration expenses	(181)	(39)
Deferred income taxes and investment tax credits, net	49	43
Employee benefit costs, net	(25)	(21)
Change in current assets and liabilities -
Receivables	42	80
Prepaid taxes and other current assets	(46)	(39)
Accounts payable	(36)	(14)
Accrued taxes	20	28
Accrued interest	3	1
Customer deposits	6	9
Other current liabilities	(7)	(12)
Collateral, net	2	(7)
Employee benefit plan funding and related payments	(4)	(4)
Other	47	(16)
Net cash provided from operating activities	599	635
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital investments	(856)	(591)
Loans to affiliated companies, net	—	5
Asset removal costs	(104)	(70)
Other	—	(1)
Net cash used for investing activities	(960)	(657)
CASH FLOWS FROM FINANCING ACTIVITIES:
New financing-
Long-term debt	850	—
Short-term borrowings - affiliated companies, net	—	107
Redemptions and repayments-
Long-term debt	(300)	—
Short-term borrowings - affiliated companies, net	(116)	—
Common stock dividend payments	(65)	(85)
Other	(8)	—
Net cash provided from financing activities	361	22
Net change in cash, cash equivalents, and restricted cash	—	—
Cash, cash equivalents, and restricted cash at beginning of period	—	—
Cash, cash equivalents, and restricted cash at end of period	$—	$—
SUPPLEMENTAL CASH FLOW INFORMATION:
Significant non-cash transactions:
Accrued capital investments	$146	$51

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