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Jun 30, 2023
FirstEnergy Q2 2023 Earnings Report
Reported GAAP earnings and operating (non-GAAP) earnings, affirming 2023 operating guidance and long-term annual operating earnings per share growth rate.
Key Takeaways
FirstEnergy Corp. reported second quarter 2023 GAAP earnings of $235 million, or $0.41 per share, on revenue of $3.0 billion. Operating (non-GAAP) earnings were $0.47 per share. The company reaffirmed its full-year 2023 operating (non-GAAP) earnings guidance and affirmed its long-term, 6% to 8% targeted annual operating earnings per share growth rate.
Second quarter 2023 GAAP earnings were $0.41 per share.
Operating (non-GAAP) earnings were $0.47 per share in the second quarter of 2023.
Full-year 2023 operating (non-GAAP) earnings guidance range is reaffirmed at $2.44 to $2.64 per share.
Long-term, 6% to 8% targeted annual operating earnings per share growth rate is affirmed.
Forward Guidance
FirstEnergy reaffirmed its full-year 2023 operating (non-GAAP) earnings guidance range of $2.44 to $2.64 per share based on 574 million shares outstanding. In addition, the company is providing an operating (non-GAAP) earnings guidance range of $455 million to $515 million, or $0.80 to $0.90 per share for the third quarter of 2023, based on 573 million shares outstanding. The company also affirmed its long-term, 6% to 8% targeted annual operating earnings per share growth rate, which is based off the previous year’s operating earnings guidance midpoint.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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