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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$27.0B
P/E Ratio24.23
ROE8.83%

Products & Services

Revenue

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Eliminations and reconciling adjustments-$15M-$15M-$16M-$17M-$15M-$17M
Alternative Revenue Program$2.5M$0———$13M

Revenue from Contract with Customer, Including Assessed Tax

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Transmission$97M$161M$111M$109M$105M$190M
Other revenue from contracts with customers$18M$18M$24M$25M$17M$18M
Wholesale$3M$4M$4M$4M$6M$10M

Geographic

Public utilities, revenue impact of sales losses to be recovered

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
New Jersey—————$16M

Annual revenue cap for DCR rider

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
OHIO$390M————$14M

Customer restitution

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
OHIO—————$275M

Customer restitution, after tax

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
OHIO—————$213M

Customer restitution paid

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
OHIO—————$163M

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%———2.0%3.3%

Energy consumption reduction targets

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Pennsylvania3.1%———2.0%3.1%

Public utilities, approved energy consumption reduction targets, cost recovery

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Pennsylvania————$390B$390M

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-$19M-$19M-$98M$46M-$63M-$254M
Integrated-$8M$8M-$3M$42M-$59M-$205M

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$497M$395M$433M$508M$506M$476M
Distribution Segment$372M$265M$295M$416M$368M$364M

Goodwill

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Distribution Segment$3.2B$3.2B$3.2B$3.2B$3.2B$3.2B
Integrated$2B$2B$2B$2B$2B$2B

Income taxes (benefits)

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Distribution Segment$39M$60M$43M$48M—$64M
Integrated$46M$40M$35M$60M$55M$46M

Interest Expense

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Distribution Segment$101M$99M$101M$101M$98M$107M
Integrated$64M$65M$68M$75M$76M$78M

Net Income

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Distribution Segment—$218M$161M$230M—$246M
Integrated—$136M$116M$183M—$153M

Number of customers

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Distribution Segment100000.004300000.00———4300000.00
Integrated Segment—————2000000.00

Other expense (income) items

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Distribution Segment$643M$789M$671M$860M$1.4B$946M
Integrated$553M$625M$600M$815M$615M$820M

Other operating expense

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Distribution Segment$507M$627M$634M$570M$648M$716M
Integrated$213M$337M$306M$337M$436M$672M

Provision for depreciation

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Distribution Segment$162M$162M$163M$165M$165M$165M
Integrated$135M$138M$139M$141M$144M$139M

Revenue from Contract with Customer, Including Assessed Tax

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Distribution Segment$1.6B$1.9B$1.7B$2B$1.9B$2B
Integrated Segment$1.1B$1.3B$1.3B$1.6B$1.4B$1.5B

Revenue

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Distribution Segment$1.6B$1.9B$1.7B$2B$1.9B$2B
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—$173M$207M$200M$212M$166M

Number of completed solar sites

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Integrated1.000.750.750.750.753.00

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$7B

Service area

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