FirstEnergy Corp

FE: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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FirstEnergy Earnings: Narrowed Guidance Reflects Higher Storm Costs Partially Offset by Lower O&M

Andrew Bischof

Oct 30, 2024

We are maintaining our $44 fair value estimate for FirstEnergy after the company reported third-quarter earnings per share of $0.85, down from $0.88 in the year-ago period. Management narrowed its 2024 operating EPS guidance to $2.61-$2.71, down from $2.61-$2.81. Management also reaffirmed its long-term 6%-8% annual earnings growth guidance through 2028. We expect the company can achieve the midpoint.

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FirstEnergy Corp

FirstEnergy Earnings: Narrowed Guidance Reflects Higher Storm Costs Partially Offset by Lower O&M

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