Income StatementBalance SheetCash FlowSegments
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FirstEnergy Business Segments

Business, geographic, and product segment breakdowns

FirstEnergy generates $15.5B in annual revenue across 2 key segments: Distribution Segment ($7.5B), and Integrated Segment ($5.8B). The company-wide operating margin is 14.84%. Based on the Q1 2026 filing.

Distribution Segment (TTM)$7.5BIntegrated Segment (TTM)$5.8B
Latest FilingQ1 2026
Report Date2026-04-28
Market Cap$25.6B
P/E Ratio23.01
ROE8.83%

Products & Services

Revenue

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Eliminations and reconciling adjustments-$15.0M-$15.0M-$16.0M-$17.0M-$15.0M-$17.0M
Alternative Revenue Program$2.5M$0.0———$13.0M

Revenue from Contract with Customer, Including Assessed Tax

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Transmission$97.0M$100.0M$111.0M$109.0M$105.0M$190.0M
Other revenue from contracts with customers$18.0M$18.0M$24.0M$25.0M$17.0M$18.0M
Wholesale$3.0M$4.0M$4.0M$4.0M$6.0M$10.0M

Geographic

Public utilities, revenue impact of sales losses to be recovered

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
New Jersey—————$16.0M

Annual revenue cap for DCR rider

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
OHIO$390.0M————$14.0M

Customer restitution

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
OHIO—————$275.0M

Customer restitution, after tax

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
OHIO—————$213.0M

Customer restitution paid

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
OHIO—————$163.0M

Number of billing cycles

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
OHIO—————3.00

Demand reduction targets

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Pennsylvania3.3%———3.3%3.3%

Energy consumption reduction targets

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Pennsylvania3.1%———3.1%3.1%

Public utilities, approved energy consumption reduction targets, cost recovery

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Pennsylvania$0.0———$390.0M$390.0M

Public utilities, near-term market capacity purchases (in MV's)

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
West Virginia———1200.00—1200.00

Public utilities, requested rate increase, estimated initial investment

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
West Virginia———$2.5B—$2.7B

Business Segments

Amortization (Deferral) Of Regulatory Assets, Net

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Distribution Segment$0.0-$22.0M-$98.0M$46.0M-$60.0M-$254.0M
Integrated-$8.0M$8.0M-$3.0M$42.0M-$59.0M-$205.0M

Total Assets

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Distribution Segment$19.9B$20.4B$20.3B$20.5B$20.7B$21.2B
Integrated$18.6B$18.8B$19.5B$20.6B$20.4B$20.7B

Capital investments

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Integrated$497.0M$395.0M$433.0M$508.0M$506.0M$476.0M
Distribution Segment$372.0M$265.0M$295.0M$416.0M$368.0M$364.0M

Goodwill

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Distribution Segment$3.2B$3.2B$3.2B$3.2B$3.2B$3.2B
Integrated$2.0B$2.0B$2.0B$2.0B$2.0B$2.0B

Income taxes (benefits)

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Distribution Segment$39.0M$60.0M$43.0M$48.0M—$64.0M
Integrated$46.0M$40.0M$35.0M$60.0M$55.0M$46.0M

Interest Expense

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Distribution Segment$101.0M$99.0M$101.0M$101.0M$98.0M$107.0M
Integrated$64.0M$65.0M$68.0M$75.0M$76.0M$78.0M

Net Income

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Distribution Segment—$218.0M$161.0M$230.0M—$246.0M
Integrated—$136.0M$116.0M$183.0M—$153.0M

Number of customers

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Distribution Segment100000.004300000.000.000.000.004300000.00
Integrated Segment—————2000000.00

Other expense (income) items

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Distribution Segment$613.0M$789.0M$671.0M$860.0M$1.4B$946.0M
Integrated$483.0M$625.0M$600.0M$815.0M$615.0M$820.0M

Other operating expense

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Distribution Segment$537.0M$627.0M$634.0M$570.0M$648.0M$716.0M
Integrated$283.0M$337.0M$306.0M$337.0M$436.0M$672.0M

Provision for depreciation

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Distribution Segment$162.0M$162.0M$163.0M$165.0M$165.0M$165.0M
Integrated$135.0M$138.0M$139.0M$141.0M$144.0M$139.0M

Revenue from Contract with Customer, Including Assessed Tax

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Distribution Segment$1.6B$1.9B$1.7B$2.0B$1.9B$2.0B
Integrated Segment$1.1B$1.3B$1.3B$1.6B$1.4B$1.5B

Revenue

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Distribution Segment—$1.9B$1.7B$2.0B$1.9B$2.0B
Integrated$1.2B$1.3B$1.3B$1.7B$1.4B$1.7B
Integrated Segment$1.2B$1.3B$1.3B$1.7B$1.4B$1.7B

Potential Collateral Obligations

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Electric Companies and Transmission Companies—$173.0M$207.0M$200.0M$212.0M$166.0M

Number of completed solar sites

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Integrated0.500.750.750.750.753.00

Plant capacity (in MW's)

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Integrated Segment3604.003604.003610.003610.003610.003610.00
Other Business Operations67.0067.0067.0067.0067.0067.00

Long-Term Debt

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Other Business Operations$6.1B$6.5B$7.1B$7.1B$6.8B$7.0B

Service area

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Regulated Transmission24000.0024000.0024000.0024000.0024000.0024000.00