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Firstenergy Corp (FE) SEC Filing 10-K Annual report for the fiscal year ending Tuesday, December 31, 2019

Firstenergy Corp

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CIK: 1031296 Ticker: FE


Exhibit 99.1

FirstEnergy Corp.                    For Release: February 7, 2020
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 2019 Financial Results
Affirms 2020 Guidance and Long-Term Growth Projections,
Provides First Quarter 2020 Guidance

Akron, Ohio - FirstEnergy Corp. (NYSE: FE) today reported full-year 2019 GAAP earnings of $908 million, or $1.70 per basic share ($1.68 diluted), on revenue of $11.0 billion. This compares to 2018 GAAP earnings of $981 million, or $1.99 per basic and diluted share of common stock, on revenue of $11.3 billion. Results for both periods include the impact of special items listed below.

Operating (non-GAAP) earnings* for 2019 were $2.58 per share, at the top end of the company’s most recent earnings guidance. In 2018, operating (non-GAAP) earnings were $2.59 per share.

“This was another great year for FirstEnergy, marked by solid execution on initiatives that benefit our customers, shareholders, communities and our company,” said Charles E. Jones, FirstEnergy president and chief executive officer. “In 2020, we expect to build on our progress as we continue implementing our long-term, customer-focused growth plans.”

FirstEnergy is affirming its long-term growth rate projections. The company remains on track to achieve 6% to 8% compound annual operating (non-GAAP) earnings growth (CAGR)** from 2018 to 2021, as well as its extended CAGR of 5% to 7% through 2023. That projection includes plans to issue up to $600 million of equity annually starting in 2022 to fund the company’s regulated growth initiatives.

For 2020, FirstEnergy is updating its full-year GAAP earnings forecast range to $900 million to $1.41 billion, or $1.66 to $2.60 per share, based on 542 million shares. The company is affirming its full-year operating (non-GAAP) guidance of $2.40 to $2.60 per share.



The following information was filed by Firstenergy Corp (FE) on Friday, February 7, 2020 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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Firstenergy Corp's Definitive Proxy Statement (Form DEF 14A) filed after their 2020 10-K Annual Report includes:

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Inside Firstenergy Corp's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Cover Page
Consolidated Valuation And Qualifying Accounts
Consolidated Valuation And Qualifying Accounts (Details)
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Common Stockholders' Equity (Firstenergy Corp.)
Consolidated Statements Of Comprehensive Income (Loss)
Consolidated Statements Of Income (Loss)
Consolidated Statements Of Income (Loss) (Parenthetical)
Consolidated Statements Of Stockholders' Equity (Parenthetical)
Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income (Tables)
Accumulated Other Comprehensive Income - Components Of Aoci (Details)
Accumulated Other Comprehensive Income - Reclassifications (Details)
Asset Retirement Obligations
Asset Retirement Obligations (Details)
Asset Retirement Obligations (Tables)
Capitalization
Capitalization (Details 1)
Capitalization (Details 2)
Capitalization (Details)
Capitalization (Tables)
Capitalization - Narrative (Details)
Commitments, Guarantees And Contingencies
Commitments, Guarantees And Contingencies (Details)
Commitments, Guarantees And Contingencies (Tables)
Commitments, Guarantees And Contingencies - Clean Air Act And Climate Change (Details)
Commitments, Guarantees And Contingencies - Clean Water Act And Regulation Of Waste Disposal (Details)
Commitments, Guarantees And Contingencies - Nuclear Insurance, Commitments And Collateral (Details)
Commitments, Guarantees And Contingencies - Other Legal Proceedings (Details)
Discontinued Operations
Discontinued Operations (Tables)
Discontinued Operations - Gain On Deconsolidation (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)
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)
Fair Value Measurements (Tables)
Fair Value Measurements - Narrative (Details)
Intangible Assets
Intangible Assets (Details)
Intangible Assets (Tables)
Leases
Leases (Details 1)
Leases (Details 2)
Leases (Details 3)
Leases (Details 4)
Leases (Details)
Leases (Tables)
Organization And Basis Of Presentation (Details 1)
Organization And Basis Of Presentation (Details 2)
Organization And Basis Of Presentation (Details 3)
Organization And Basis Of Presentation (Details 4)
Organization And Basis Of Presentation (Details 5)
Organization And Basis Of Presentation (Details)
Organization And Basis Of Presentation (Policies)
Organization And Basis Of Presentation (Tables)
Organization And Basis Of Presentation - Narrative (Details)
Organization, Basis Of Presentation
Pension And Other Postemployment Benefits
Pension And Other Postemployment Benefits (Details 1)
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)
Pension And Other Postemployment Benefits (Tables)
Pension And Other Postemployment Benefits - Narrative (Details)
Regulatory Matters
Regulatory Matters (Tables)
Regulatory Matters - Distribution Rate Orders (Details)
Regulatory Matters - Maryland And New Jersey (Details)
Regulatory Matters - Ohio (Details)
Regulatory Matters - Pennsylvania And West Virginia (Details)
Regulatory Matters - Reliability And Ferc Matters (Details)
Revenue
Revenue (Details)
Revenue (Tables)
Segment Information
Segment Information (Details)
Segment Information (Tables)
Segment Information - Narrative (Details)
Short-Term Borrowings And Bank Lines Of Credit
Short-Term Borrowings And Bank Lines Of Credit - Narrative (Details)
Stock-Based Compensation Plans
Stock-Based Compensation Plans (Details 1)
Stock-Based Compensation Plans (Details 2)
Stock-Based Compensation Plans (Details)
Stock-Based Compensation Plans (Tables)
Stock-Based Compensation Plans - Narrative (Details)
Summary Of Quarterly Financial Data (Unaudited)
Summary Of Quarterly Financial Data (Unaudited) (Details)
Summary Of Quarterly Financial Data (Unaudited) (Tables)
Taxes
Taxes (Details 1)
Taxes (Details 2)
Taxes (Details 3)
Taxes (Details 4)
Taxes (Details 5)
Taxes (Details)
Taxes (Tables)
Taxes - Narrative (Details)
Transactions With Affiliated Companies
Ticker: FE
CIK: 1031296
Form Type: 10-K Annual Report
Accession Number: 0001031296-20-000008
Submitted to the SEC: Mon Feb 10 2020 7:13:59 AM EST
Accepted by the SEC: Mon Feb 10 2020
Period: Tuesday, December 31, 2019
Industry: Electric Services

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