Pre-earnings brief
Reports
Tue, Oct 27, 2026
Est. EPS
—
Est. revenue
—
Implied move
±3.5%
EPS beat rate
50%
FirstEnergy Corp. is a utility company that provides electric services to customers across several states in the U.S. As a key player in the electric utilities sector, it plays a significant role in the energy supply chain, especially as the industry transitions toward cleaner energy sources.
Last quarter
In Q2 2026, FirstEnergy reported an EPS of $0.50, slightly beating expectations. The stock reacted positively, gaining 0.67% the following day.
EPS beat streak
1Q
EPS beat rate
50%
Avg EPS surprise
+48.38%
Avg 1-day reaction
-0.43%
Overall expectations for FirstEnergy's upcoming earnings are mixed, with investors closely watching for signs of revenue growth and profitability.
Bull case
If the company can demonstrate strong customer growth and improved margins, it could signal a robust recovery and positive outlook for future earnings.
Bear case
On the downside, any indication of declining customer numbers or rising operational costs could lead to negative sentiment and a drop in stock price.
The print will turn on these.
Q1
What is the current customer count and growth rate compared to last quarter?
This will indicate whether the company is successfully expanding its market share, which is crucial for future revenue growth.
Q2
How are operational costs trending, particularly in relation to energy supply and maintenance?
Understanding cost management will help assess the company's profitability and ability to maintain margins in a competitive environment.
—
Est. EPS
—
Est. Rev
—
Impl. Move
±10.3%
Why consensus could be wrong
The Street may be underestimating the impact of rising customer acquisition costs, which could hinder revenue growth despite a stable customer base.
Supporting evidence
Options are pricing a 5.2% move, but the stock has averaged only 0.78% in historical moves, indicating potential overvaluation of volatility.
The recent EPS surprises have shown a mixed trend, suggesting that expectations may be too high for consistent performance.
Key risk
If customer growth fails to meet expectations, the entire revenue growth narrative could unravel.
Pre-commit to what would confirm each case.
The core debate this quarter revolves around customer growth and cost management, which are critical for sustaining profitability.
Bull confirmed if
Demonstrating a customer growth rate of at least 3% quarter-over-quarter would confirm the bull case.
Bear confirmed if
If operational costs increase by more than 5% compared to the previous quarter, it would confirm the bear case.
What the market is pricing for the move.
Implied Move
±5.22%
Historical Avg
±0.8%
The options market is pricing in a significant move of over 5%, suggesting that investors are anticipating volatility around the earnings report.
Options are pricing ±3.5% while FE has averaged ±0.8% over the last 8 prints — setup is pricing rich.
ATM IV
0.2%
30d HV
14.1%
Smart-money positioning from the most recent 13F filings.
Institutional
95.67%
of float
Insider
0.14%
of float
Holders
1,230
institutions
Top Holders· as of Jun 2026
Capital World Investors
77,819,842 sh · $3.5B
13.45%
0.2%
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 for growth.
In line / cautious
If results are in line with expectations but management is cautious, the stock may experience a muted reaction as investors reassess future growth.
Miss
A miss on earnings could lead to a decline in stock price, with historical patterns suggesting an average drop of around 1%.
House and Senate STOCK Act disclosures over the trailing 6 months.
Trades
1
1 buy·0 sells
Members
1
House only
Est. Notional
$1,001.00–$15,000.00
disclosed dollar ranges
Most Active Members
1 trade
The lines on the call that would change the story.
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8.60%
1.5%
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40,609,713 sh · $1.8B
7.02%
-0.1%
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34,887,224 sh · $1.6B
6.03%
0.5%
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28,832,099 sh · $1.3B
4.98%
Flat
13F filings updated quarterly. Position deltas show change in shares vs. the prior quarter.
Net buying
Recent Transactions
Traded Jul 10, 2026 · disclosed Jul 17, 2026
$1,001.00–$15,000.00
Filed 30–45+ days after the trade. Treat as positional context, not a leading indicator. Amounts are SEC-mandated dollar ranges, not exact values.