Equity Profile

FE

FirstEnergy Corp.

UtilitiesElectric Utilities$28.0B

Jul29Wed

Pre-Earnings Brief

UpcomingQ2-2026After Close5:00 PM EDT

Company Snapshot

FirstEnergy Corp. is a utility company that provides electricity to customers across several states in the U.S....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a crucial indicator of the company's profitability and financial health, which investors closely monitor.

N/A

Revenue Growth

Revenue growth reflects the company's ability to increase sales and manage operational efficiency, impacting overall performance.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

FE Q2-2026 Earnings Preview

Context

Company Snapshot

FirstEnergy Corp. is a utility company that provides electricity to customers across several states in the U.S. As a key player in the electric utilities sector, it plays a vital role in energy distribution and is influenced by regulatory changes and shifts in energy demand.

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

50%

Avg EPS Surprise

+48.29%

Avg Stock Reaction

-0.43%

Last Quarter Recap

In Q1-2026, FirstEnergy reported an EPS of $0.72, matching analyst expectations. The stock saw a slight increase of 0.28% the following day, indicating stable investor sentiment.

Management Promises & Guidance

Expectations

Wall Street Expectations

Overall, analysts are cautious about FirstEnergy's upcoming earnings, given the mixed results in previous quarters. Investors are particularly interested in how the company will navigate regulatory challenges and energy demand fluctuations.

Bull Case

If FirstEnergy can demonstrate strong customer growth and effective cost management, it may exceed expectations and boost investor confidence.

Bear Case

Conversely, if the company reports disappointing revenue or struggles with regulatory issues, it could lead to a negative reaction in the stock price.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will be the reported EPS and how does it compare to previous quarters?

EPS is a key indicator of profitability, and any significant deviation from expectations could impact investor sentiment.

How is FirstEnergy managing its regulatory challenges?

Regulatory issues can significantly affect operational costs and profitability, making this a critical area for investors to monitor.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may underestimate FirstEnergy's ability to manage regulatory challenges effectively, leading to better-than-expected EPS.

Supporting Evidence

FirstEnergy has a history of beating EPS expectations, with a 63% beat rate over the last eight quarters.

The options market is pricing in a significant move, indicating that traders expect volatility, which could be based on positive sentiment.

The recent stability in customer numbers suggests a resilient demand for services, contrary to concerns about regulatory impacts.

Key Risk

If EPS comes in above $0.80, it could challenge the current cautious consensus.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The market is weighing FirstEnergy's ability to manage costs and grow its customer base against the backdrop of regulatory scrutiny.

Bull Confirmed If

A reported EPS above $0.80 would confirm the bull case and indicate strong operational performance.

Bear Confirmed If

An EPS below $0.60 would support the bear case, suggesting ongoing challenges in profitability.

Pre-Earnings Positioning

Options Market

Implied Move

±10.99%

Historical Avg

±0.8%

Pricing rich

The options market is pricing in a significant move of nearly 11%, suggesting that traders expect volatility around the earnings report.

Options are pricing ±11.0% while FE has averaged ±0.8% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.3%

30d HV

20.0%

Calls (4K)P/C Ratio: 0.17Puts (12K)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter beat + options rich in Utilities

n=30

Fade rate: 7 of 30 (23%)

This setup has occurred 30 times across Utilities in the last 2 years. 23 of 30 (77%) held or extended their move within 5 days — this setup typically holds direction. The average absolute 1-day move is 1.5%, with a raw directional average of -0.7% (modestly negative historical bias).

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If FirstEnergy beats expectations, history suggests the stock could see a modest increase, confirming a positive outlook.

In-Line / Cautious

If results are in line with expectations, the stock may experience limited movement as investors await further clarity from management.

Miss

A miss could lead to a decline in the stock price, with history indicating an average drop of around 1%.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on regulatory challenges and how they may impact future earnings.
2Details on customer growth and retention rates, which are critical for revenue stability.
3Insights into cost management strategies and their effectiveness.
4Any commentary on future capital expenditures and investment plans.
5Management's outlook on energy demand trends and market conditions.

See the full picture

AI-powered briefs, options data, and 20 quarters of history — everything you need before earnings.

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Company Snapshot

FirstEnergy Corp. is a utility company that provides electricity to customers across several states in the U.S....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a crucial indicator of the company's profitability and financial health, which investors closely monitor.

N/A

Revenue Growth

Revenue growth reflects the company's ability to increase sales and manage operational efficiency, impacting overall performance.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

FE Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

50%

Avg EPS Surprise

+48.29%

Avg Stock Reaction

-0.43%

Last Quarter Recap

In Q1-2026, FirstEnergy reported an EPS of $0.72, matching analyst expectations. The stock saw a slight increase of 0.28% the following day, indicating stable investor sentiment.

Management Promises & Guidance

Expectations

Wall Street Expectations

Bull Case

If FirstEnergy can demonstrate strong customer growth and effective cost management, it may exceed expectations and boost investor confidence.

Bear Case

Conversely, if the company reports disappointing revenue or struggles with regulatory issues, it could lead to a negative reaction in the stock price.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will be the reported EPS and how does it compare to previous quarters?

EPS is a key indicator of profitability, and any significant deviation from expectations could impact investor sentiment.

How is FirstEnergy managing its regulatory challenges?

Regulatory issues can significantly affect operational costs and profitability, making this a critical area for investors to monitor.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may underestimate FirstEnergy's ability to manage regulatory challenges effectively, leading to better-than-expected EPS.

Supporting Evidence

FirstEnergy has a history of beating EPS expectations, with a 63% beat rate over the last eight quarters.

The options market is pricing in a significant move, indicating that traders expect volatility, which could be based on positive sentiment.

The recent stability in customer numbers suggests a resilient demand for services, contrary to concerns about regulatory impacts.

Key Risk

If EPS comes in above $0.80, it could challenge the current cautious consensus.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The market is weighing FirstEnergy's ability to manage costs and grow its customer base against the backdrop of regulatory scrutiny.

Bull Confirmed If

A reported EPS above $0.80 would confirm the bull case and indicate strong operational performance.

Bear Confirmed If

An EPS below $0.60 would support the bear case, suggesting ongoing challenges in profitability.

Pre-Earnings Positioning

Options Market

Implied Move

±10.99%

Historical Avg

±0.8%

Pricing rich

The options market is pricing in a significant move of nearly 11%, suggesting that traders expect volatility around the earnings report.

Options are pricing ±11.0% while FE has averaged ±0.8% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.3%

30d HV

20.0%

Calls (4K)P/C Ratio: 0.17Puts (12K)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter beat + options rich in Utilities

n=30

Fade rate: 7 of 30 (23%)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If FirstEnergy beats expectations, history suggests the stock could see a modest increase, confirming a positive outlook.

In-Line / Cautious

If results are in line with expectations, the stock may experience limited movement as investors await further clarity from management.

Miss

A miss could lead to a decline in the stock price, with history indicating an average drop of around 1%.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on regulatory challenges and how they may impact future earnings.
2Details on customer growth and retention rates, which are critical for revenue stability.
3Insights into cost management strategies and their effectiveness.
4Any commentary on future capital expenditures and investment plans.
5Management's outlook on energy demand trends and market conditions.