Firstenergy Corp Stock Price, News & Analysis

FirstEnergy Corp. (NYSE: FE) is partnering with the West Virginia Herbert Henderson Office of Minority Affairs to enhance job opportunities for minority candidates and identify minority-owned businesses for its supplier diversity program. This collaboration aims to increase the number of racially and ethnically diverse employees by 30% by 2025 and achieve 20% of its supply chain spend with diverse suppliers by the same year. FirstEnergy has job openings in various fields, including meter reading and engineering. The company plans to participate in HHOMA's Minority Expo on April 28, 2022.

FirstEnergy's subsidiary, Ohio Edison, is enhancing electric service in the Youngstown area through grid modernization. The initiative benefits over 20,000 customers by installing new automated equipment in substations and power lines to reduce outages. Key upgrades include nearly 40 automated reclosing devices aimed at improving service reliability. This work builds on previous upgrades, reducing average restoration times by about 30 minutes during severe weather. The project is expected to finish by the end of the year and includes additional tree-trimming and equipment inspections to further bolster infrastructure.

FirstEnergy Corp. (FE) reported Q1 2022 GAAP earnings of $288 million, or $0.51 per share, on revenue of $3.0 billion, reflecting a decline from Q1 2021's earnings of $335 million ($0.62 per share) despite a revenue increase from $2.7 billion. Operating (non-GAAP) earnings stood at $0.60 per share, consistent with the guidance midpoint. The company affirmed its full-year GAAP earnings guidance of $1.355 billion to $1.470 billion ($2.37 to $2.57 per share). For Q2 2022, it projects earnings between $265 million and $320 million ($0.46 to $0.56 per share).

FirstEnergy Corp. (NYSE: FE) has donated 500 trees to Massillon Community Park in Stark County, Ohio, as part of their Earth and Arbor Day celebrations. Since April 2021, the company has planted over 17,000 trees and aims to plant an additional 14,000 this spring, contributing to sustainability efforts. Led by their Green Team, this initiative aligns with their commitment to reducing carbon footprints and promoting responsible resource use. This year's donation will be followed by another 1,400 trees planted at various parks, showcasing FirstEnergy's dedication to environmental stewardship.

FirstEnergy Corp. (NYSE: FE) has announced its plan to plant 20,000 trees in 2022 across its service areas, following a successful 2021 where it exceeded its target by planting 17,000 trees. The initiative focuses on enhancing community landscapes and supporting environmental health. 10,000 trees will be planted in the upcoming weeks around Earth Day and Arbor Day. The program, initiated in 2020, aims to address benefits like carbon absorption and stormwater management. FirstEnergy's employee-led Green Teams will collaborate with various organizations to drive this effort.

FirstEnergy Corp. (NYSE: FE) will announce its first-quarter financial results on April 21, 2022, after the market closes, followed by a conference call on April 22 at 10 a.m. EDT. Analysts and interested parties can join the live webcast on the company's Investor Information site, where the presentation will be available for replay for up to one year. FirstEnergy operates one of the largest investor-owned electric systems in the U.S., with over 24,000 miles of transmission lines across several states including Ohio, Pennsylvania, and New York.

On April 5, 2022, Mid-Atlantic Interstate Transmission (MAIT), a subsidiary of FirstEnergy Corp. (NYSE: FE), completed proactive aerial inspections of nearly 1,400 miles of high-voltage transmission lines in Pennsylvania. Conducted twice yearly, these inspections aim to identify infrastructure issues that may not be visible from the ground. The inspections are crucial for preventing potential power outages, particularly with increased electric usage expected in the summer. Met-Ed serves approximately 570,000 customers in a 3,300 square-mile area, ensuring reliable electricity across multiple counties.

FirstEnergy Corp. has launched a new sustainability initiative, the Wood Pole Diversion Program, aimed at repurposing discarded utility poles in Ohio. This program has successfully diverted over 1 million pounds of used wooden poles from landfills since its pilot phase began in 2020. The poles, no longer in use, will be redistributed for alternative applications such as fencing, landscaping, and furniture. The initiative has expanded beyond Ohio to include other states in FirstEnergy's service area, aiming to significantly reduce waste over time.

Toledo Edison, a subsidiary of FirstEnergy, partnered with Metroparks Toledo to install a 55-foot wooden pole with a nesting platform at the Manhattan Marsh Preserve Metropark. This initiative aims to safeguard the rising osprey population by providing safe nesting away from utility equipment. Toledo Edison emphasizes its commitment to bird conservation, having previously donated platforms and installed deterrents on utility poles. With a service area covering nearly 315,000 customers in northwest Ohio, the company continues its efforts to enhance both avian safety and electric service reliability.