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Firstenergy Corp (FE) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2012

Firstenergy Corp

CIK: 1031296 Ticker: FE

Exhibit 99.1


FirstEnergy Corp.                        For Release: February 25, 2013
76 South Main Street
Akron, Ohio 44308
www.firstenergycorp.com    


News Media Contact:                        Investor Contact:
Tricia Ingraham                            Irene Prezelj
(330) 384-5247                            (330) 384-3859





FirstEnergy Reports 2012 Earnings
Reaffirms 2013 Non-GAAP Guidance


Akron, Ohio - FirstEnergy Corp. (NYSE: FE) today reported full-year 2012 basic earnings of $3.34 per share of common stock on a non-GAAP* basis. These results exclude the impact of the special items listed below. In 2011, non-GAAP earnings were $3.64 per share.

“In 2012, we successfully controlled costs, improved our operational performance, and continued building our competitive business, consistent with our strategies,” said Anthony J. Alexander, president and chief executive officer of FirstEnergy. “This year, we will remain focused on continuing the strong operational performance in our three core businesses, generation, transmission and distribution, while delivering financial stability and pursuing opportunities for growth.”

The company also reaffirmed its 2013 non-GAAP earnings guidance of $2.85 to $3.15 per share.

On a GAAP basis, full-year 2012 earnings were $1.85 per basic share ($1.84 diluted), on net income of $771 million and revenue of $15.3 billion. In 2011, GAAP earnings were $2.22 per basic share ($2.21 diluted) on net income of $869 million and revenue of $16.1 billion.

Fourth quarter 2012 non-GAAP earnings were $0.80 per share of common stock. This compares to fourth quarter 2011 non-GAAP earnings of $0.77 per share. On a GAAP basis, the company reported a fourth quarter 2012 net loss of $148 million, or a loss of $0.35 per basic share, on revenue of $3.5 billion. In 2011, GAAP earnings were $0.23 per basic and diluted share on net income of $99 million and revenue of $3.9 billion.

The annual adjustment for pension and other post-employment benefits actuarial assumptions reduced fourth quarter 2012 GAAP earnings by $0.91 per share, resulting in the loss for the quarter. Last year's adjustment reduced GAAP earnings by $0.74 per share in the fourth quarter of 2011, but that adjustment was more than offset by a one-time gain from the sale of non-core assets.



 




The following information was filed by Firstenergy Corp (FE) on Monday, February 25, 2013 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Valuation And Qualifying Accounts
Consolidated Valuation And Qualifying Accounts (details)
Consolidated Balance Sheets (firstenergy Corp.)
Consolidated Balance Sheets (firstenergy Corp.) (parenthetical)
Consolidated Balance Sheets (firstenergy Solutions Corp.)
Consolidated Balance Sheets (firstenergy Solutions Corp.) (parenthetical)
Consolidated Balance Sheets (jersey Central Power & Light Company)
Consolidated Balance Sheets (jersey Central Power & Light Company) (parenthetical)
Consolidated Balance Sheets (ohio Edison Company)
Consolidated Balance Sheets (ohio Edison Company) (parenthetical)
Consolidated Statements Of Cash Flows (firstenergy Corp.)
Consolidated Statements Of Cash Flows (firstenergy Solutions Corp.)
Consolidated Statements Of Cash Flows (jersey Central Power & Light Company)
Consolidated Statements Of Cash Flows (ohio Edison Company)
Consolidated Statements Of Common Stockholders' Equity (firstenergy Corp.)
Consolidated Statements Of Common Stockholders' Equity (firstenergy Corp.) (parenthetical)
Consolidated Statements Of Common Stockholders' Equity (firstenergy Solutions Corp.)
Consolidated Statements Of Common Stockholders' Equity (firstenergy Solutions Corp.) (parenthetical)
Consolidated Statements Of Common Stockholders' Equity (jersey Central Power & Light Company)
Consolidated Statements Of Common Stockholders' Equity (jersey Central Power & Light Company) (parenthetical)
Consolidated Statements Of Common Stockholders' Equity (ohio Edison Company)
Consolidated Statements Of Common Stockholders' Equity (ohio Edison Company) (parenthetical)
Consolidated Statements Of Comprehensive Income (firstenergy Corp.)
Consolidated Statements Of Income (firstenergy Corp.)
Consolidated Statements Of Income (firstenergy Corp.) (parenthetical)
Consolidated Statements Of Income And Comprehensive Income (firstenergy Solutions Corp.)
Consolidated Statements Of Income And Comprehensive Income (jersey Central Power & Light Company)
Consolidated Statements Of Income And Comprehensive Income (ohio Edison Company)
Asset Retirement Obligations
Asset Retirement Obligations (details)
Asset Retirement Obligations (tables)
Capitalization
Capitalization (details 1)
Capitalization (details 2)
Capitalization (details 3)
Capitalization (details 4)
Capitalization (details Textuals)
Capitalization (details)
Capitalization (tables)
Commitments, Guarantees And Contingencies
Commitments, Guarantees And Contingencies (details Textuals)
Commitments, Guarantees And Contingencies (details)
Commitments, Guarantees And Contingencies (tables)
Derivative Instruments
Derivative Instruments (details 1)
Derivative Instruments (details 2)
Derivative Instruments (details 3)
Derivative Instruments (details 4)
Derivative Instruments (details Textuals)
Derivative Instruments (details)
Derivative Instruments (tables)
Fair Value Measurements
Fair Value Measurements (details 1)
Fair Value Measurements (details 2)
Fair Value Measurements (details 3)
Fair Value Measurements (details 4)
Fair Value Measurements (details 5)
Fair Value Measurements (details 6)
Fair Value Measurements (details Textuals)
Fair Value Measurements (details)
Fair Value Measurements (tables)
Impairment Of Long-lived Assets
Impairment Of Long-lived Assets (details)
Intangible Assets
Intangible Assets (details)
Intangible Assets (tables)
Leases
Leases (details 1)
Leases (details 2)
Leases (details Textuals)
Leases (details)
Leases (tables)
Merger
Merger (details 1)
Merger (details 2)
Merger (details 3)
Merger (details Textuals)
Merger (details)
Merger (tables)
Organization, Basis Of Presentation And Significant Accounting Policies
Organization, Basis Of Presentation And Significant Accounting Policies (details 1)
Organization, Basis Of Presentation And Significant Accounting Policies (details 2)
Organization, Basis Of Presentation And Significant Accounting Policies (details 3)
Organization, Basis Of Presentation And Significant Accounting Policies (details 4)
Organization, Basis Of Presentation And Significant Accounting Policies (details 5)
Organization, Basis Of Presentation And Significant Accounting Policies (details 6)
Organization, Basis Of Presentation And Significant Accounting Policies (details 7)
Organization, Basis Of Presentation And Significant Accounting Policies (details Textuals)
Organization, Basis Of Presentation And Significant Accounting Policies (details)
Organization, Basis Of Presentation And Significant Accounting Policies (policies)
Organization, Basis Of Presentation And Significant Accounting Policies (tables)
Pension And Other Postemployment Benefits
Pension And Other Postemployment Benefits (details 1)
Pension And Other Postemployment Benefits (details 10)
Pension And Other Postemployment Benefits (details 11)
Pension And Other Postemployment Benefits (details 2)
Pension And Other Postemployment Benefits (details 3)
Pension And Other Postemployment Benefits (details 4)
Pension And Other Postemployment Benefits (details 5)
Pension And Other Postemployment Benefits (details 6)
Pension And Other Postemployment Benefits (details 7)
Pension And Other Postemployment Benefits (details 8)
Pension And Other Postemployment Benefits (details 9)
Pension And Other Postemployment Benefits (details Textuals)
Pension And Other Postemployment Benefits (details)
Pension And Other Postemployment Benefits (tables)
Regulatory Matters
Regulatory Matters (details)
Segment Information
Segment Information (details Textuals)
Segment Information (details)
Segment Information (tables)
Short-term Borrowings And Bank Lines Of Credit
Short-term Borrowings And Bank Lines Of Credit (details 1)
Short-term Borrowings And Bank Lines Of Credit (details 2)
Short-term Borrowings And Bank Lines Of Credit (details Textuals)
Short-term Borrowings And Bank Lines Of Credit (details)
Short-term Borrowings And Bank Lines Of Credit (tables)
Stock-based Compensation Plans
Stock-based Compensation Plans (details 1)
Stock-based Compensation Plans (details 2)
Stock-based Compensation Plans (details 3)
Stock-based Compensation Plans (details 4)
Stock-based Compensation Plans (details 5)
Stock-based Compensation Plans (details 6)
Stock-based Compensation Plans (details Textuals)
Stock-based Compensation Plans (details)
Stock-based Compensation Plans (tables)
Summary Of Quarterly Financial Data (unaudited)
Summary Of Quarterly Financial Data (unaudited) (details)
Summary Of Quarterly Financial Data (unaudited) (tables)
Supplemental Guarantor Information
Supplemental Guarantor Information (details 1)
Supplemental Guarantor Information (details 2)
Supplemental Guarantor Information (details)
Supplemental Guarantor Information (tables)
Taxes
Taxes (details 1)
Taxes (details 2)
Taxes (details 3)
Taxes (details 4)
Taxes (details 5)
Taxes (details 6)
Taxes (details)
Taxes (details) (textuals)
Taxes (tables)
Transactions With Affiliated Companies
Transactions With Affiliated Companies (details)
Transactions With Affiliated Companies (tables)
Variable Interest Entities
Variable Interest Entities (details Textuals)
Variable Interest Entities (details)
Variable Interest Entities (tables)
Ticker: FE
CIK: 1031296
Form Type: 10-K Annual Report
Accession Number: 0001031296-13-000010
Submitted to the SEC: Mon Feb 25 2013 3:09:18 PM EST
Accepted by the SEC: Mon Feb 25 2013
Period: Monday, December 31, 2012
Industry: Electric Services

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