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Firstenergy Corp (FE) SEC Filing 10-Q Quarterly report for the period ending Sunday, September 30, 2018

Firstenergy Corp

CIK: 1031296 Ticker: FE


Exhibit 99.1
FirstEnergy Corp.
 
 
For Release: October 25, 2018
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 Announces Third Quarter 2018 Financial Results

Akron, Ohio - FirstEnergy Corp. (NYSE: FE) today reported third quarter 2018 GAAP losses of $(512) million, or $(1.02) per basic and diluted share, on revenue of $3.1 billion. The results reflect charges related to FirstEnergy’s court-approved settlement agreement in the FirstEnergy Solutions (FES) and FirstEnergy Nuclear Operating Company (FENOC) bankruptcy cases, as well as other special items listed below.

Operating (non-GAAP) earnings* for the third quarter of 2018 were $0.80 per share, which exceeded the top of the company’s third quarter operating (non-GAAP) earnings guidance.

During the third quarter of 2017, GAAP earnings were $396 million, or $0.89 per basic and diluted share, on revenue of $2.9 billion. This compares with operating (non-GAAP) earnings of $0.63 per share during the period.

“In addition to our strong operational and financial performance during the third quarter, we achieved significant milestones in our progress to become a fully regulated utility,” said Charles E. Jones, FirstEnergy president and chief executive officer. “Our court-approved settlement agreement in the FES and FENOC bankruptcy proceedings is a key step in our exit from competitive generation,” he said. “We also took important steps during the quarter to align our organization and cost structure to efficiently and effectively support our regulated business going forward.”

The company is updating its full-year 2018 GAAP earnings forecast range to $1.68 to $2.60 per share, and raising and narrowing its full-year operating (non-GAAP) earnings guidance range to $2.50 to $2.60 per share. FirstEnergy also reaffirmed its three-year operating (non-GAAP) earnings growth rate projections.**




The following information was filed by Firstenergy Corp (FE) on Thursday, October 25, 2018 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-Q Quarterly 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-Q Quarterly Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income (Loss)
Consolidated Statements Of Income (Loss)
Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income (Details 1)
Accumulated Other Comprehensive Income (Details)
Accumulated Other Comprehensive Income (Tables)
Asset Retirement Obligations
Asset Retirement Obligations (Details)
Capitalization
Capitalization (Details)
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 Textuals)
Discontinued Operations
Discontinued Operations (Tables)
Discontinued Operations - Gain On Deconsolidation (Details)
Discontinued Operations - Major Classes Of Assets And Liabilities As Discontinued Operations (Details)
Discontinued Operations - Major Classes Of Cash Flow Items From Discontinued Operations (Details)
Discontinued Operations - Narrative (Details)
Discontinued Operations - Summarized Results Of Discontinued Operations (Details)
Earnings Per Share Of Common Stock
Earnings Per Share Of Common Stock (Details)
Earnings Per Share Of Common Stock (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 Textuals)
Fair Value Measurements (Details)
Fair Value Measurements (Tables)
Income Taxes
Income Taxes (Details)
Organization And Basis Of Presentation
Organization And Basis Of Presentation (Details Textuals)
Organization And Basis Of Presentation (Policies)
Pension And Other Postemployment Benefits
Pension And Other Postemployment Benefits (Details)
Pension And Other Postemployment Benefits (Tables)
Regulatory Matters
Regulatory Matters - Maryland And New Jersey (Details)
Regulatory Matters - Ohio (Details)
Regulatory Matters - Pennsylvania And West Virginia (Details)
Regulatory Matters - Reliability Matters And Ferc (Details)
Revenue
Revenue (Details)
Revenue (Tables)
Segment Information
Segment Information (Details Textuals)
Segment Information (Details)
Segment Information (Tables)
Variable Interest Entities
Variable Interest Entities (Details Textuals)

Material Contracts, Statements, Certifications & more

Firstenergy Corp provided additional information to their SEC Filing as exhibits

Ticker: FE
CIK: 1031296
Form Type: 10-Q Quarterly Report
Accession Number: 0001031296-18-000067
Submitted to the SEC: Thu Oct 25 2018 4:50:13 PM EST
Accepted by the SEC: Thu Oct 25 2018
Period: Sunday, September 30, 2018
Industry: Electric Services

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