FirstEnergy Corp's Q2 Earnings Call Highlights Growth and Challenges, Strong Financial Performance and Infrastructure Investments

FirstEnergy Corp reported Q2 core earnings of $0.52 per share, a slight increase from last year. The company has invested $2.5 billion in infrastructure in H1 2025 and expects to deploy $5 billion in capital for the year. FirstEnergy's data center load pipeline has surged over 80% to 11.1 gigawatts, with contracted data center load through 2029 increasing by approximately 25%. The company expects its transmission rate base to grow at a 15% compound annual growth rate by 2029. Despite capacity auction challenges and regulatory uncertainty, FirstEnergy remains well-positioned for future growth.

FirstEnergy Corp. (NYSE: FE) announced its second quarter 2025 financial results, highlighting robust core earnings and substantial capital investments. The company reported GAAP earnings of $0.46 per share and Core Earnings (non-GAAP) of $0.52 per share, up from $0.08 per share and $0.51 per share, respectively, in the same period last year [1].

For the first half of 2025, FirstEnergy reported GAAP earnings of $1.09 per share and Core Earnings of $1.19 per share, representing a 19% increase in Core Earnings year-over-year. This growth was driven by new base rates in Pennsylvania, higher weather-related distribution sales, and lower operating expenses compared to the first half of 2024 [1].

The company has deployed $2.5 billion in customer-focused capital investments through June 2025, aligning with its $5 billion 2025 investment plan and the $28 billion 2025-2029 Energize365 program. FirstEnergy expects to achieve its full-year 2025 Core Earnings guidance of $2.40 to $2.60 per share, targeting the upper half of the range, and a 6-8% compounded annual Core Earnings growth rate from 2025 through 2029 [1].

FirstEnergy's data center load pipeline has surged over 80% to 11.1 gigawatts, with contracted data center load through 2029 increasing by approximately 25%. The company expects its transmission rate base to grow at a 15% compound annual growth rate by 2029, despite capacity auction challenges and regulatory uncertainty [1].

References:
[1] https://www.firstenergycorp.com/newsroom/news_articles/fe-announces-second-quarter-2025-financial-results.html