FE Q4 2025 Earnings
Reported Feb 17, 2026 at 4:25 PM ET · SEC Source
Q4 25 EPS
$2.55
BEAT +376.72%
Est. $0.53
Q4 25 Revenue
$15.09B
BEAT +387.67%
Est. $3.09B
vs S&P Since Q4 25
-9.2%
TRAILING MARKET
FE -2.4% vs S&P +6.8%
Full Year 2025 Results
FY 25 EPS
$2.55
FY 25 Revenue
$15.09B
Market Reaction
Did FE Beat Earnings? Q4 2025 Results
FirstEnergy closed out a strong 2025, delivering full-year core earnings of $2.55 per share, a 7.6% increase over the prior year and a result that landed at the top end of the company's raised guidance range of $2.50 to $2.56. Revenue reached $15.09 … Read more FirstEnergy closed out a strong 2025, delivering full-year core earnings of $2.55 per share, a 7.6% increase over the prior year and a result that landed at the top end of the company's raised guidance range of $2.50 to $2.56. Revenue reached $15.09 billion for the year, up from $13.47 billion in 2024, while GAAP net income came in at $1.02 billion, or $1.77 per share. The primary engine behind the beat was the Integrated segment, where 14% transmission rate base growth and firmer customer demand drove Core EPS of $0.87, with Pennsylvania's new base rates also lifting Distribution results. Notably, the company's data center pipeline has more than doubled since early 2025, now representing 12.9 GW of long-term demand that underpins an expanded $36.00 billion Energize365 capital plan for 2026 through 2030, targeting 10% compounded annual rate base growth. Looking ahead, FirstEnergy affirmed 2026 Core EPS guidance of $2.62 to $2.82 per share, alongside a 4.5% dividend increase to $1.86 annually.
Key Takeaways
- • New Pennsylvania base rates effective January 1, 2025
- • Total transmission rate base growth of nearly 11%
- • Stronger distribution sales and residential customer demand
- • 9% Stand-Alone Transmission rate base growth year over year
- • 14% Integrated segment transmission rate base growth
- • S&P credit rating upgrade to BBB from BBB- for FirstEnergy Corp.
- • Baseline O&M reduced by over $200M or 15% since 2022
- • 10% improvement in system-wide SAIDI reliability metrics
- • Favorable weather contributing approximately $0.10/share vs. 2024
FE YoY Financials
Q4 2025 vs Q4 2024, source: SEC Filings
FE Revenue by Segment
With YoY comparisons, source: SEC Filings
“In 2025, we reinforced our financial foundation and delivered on the strategies that are moving our company forward. We deployed $5.6 billion of system investments to enhance reliability while advancing key regulatory strategies that support long-term customer benefits and our commitments to the investment community. We are proud of our solid execution against our capital plan and solid financial discipline, which resulted in Core Earnings of $2.55 per share.”
— Brian X. Tierney, Q4 2025 Earnings Press Release
FE Earnings Trends
FE vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
FE EPS Trend
Earnings per share: estimate vs actual
FE Revenue Trend
Quarterly revenue: estimate vs actual
FE Quarterly Results
4 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 BEAT | $0.72 | $0.72 | +0.63% | $4.20B | +9.44% |
| Q4 25 BEAT FY | $0.53 | $2.55 | +376.72% | $15.09B | +387.67% |
| FY Full Year | — | $2.55 | — | $15.09B | — |
| Q3 25 BEAT | $0.77 | $0.83 | +8.03% | $4.15B | +5.18% |
| Q2 25 BEAT | $0.49 | $0.52 | +6.89% | $3.38B | -0.27% |