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Firstenergy Corp (FE) SEC Filing 10-Q Quarterly report for the period ending Tuesday, June 30, 2020

Firstenergy Corp

CIK: 1031296 Ticker: FE

Exhibit 99.1
FirstEnergy Corp.
For Release: July 23, 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 Second Quarter 2020 Financial Results
Affirms Guidance and Long-Term Growth Projections,
Provides Third Quarter 2020 Guidance,
Comments on DOJ Investigation

Akron, Ohio – FirstEnergy Corp. (NYSE: FE) today reported second quarter 2020 GAAP earnings of $309 million, or $0.57 per basic and diluted share of common stock, on revenue of $2.5 billion. In the second quarter of 2019, FirstEnergy reported GAAP earnings of $308 million, or $0.58 per basic and diluted share of common stock, on revenue of $2.5 billion. Second quarter results include the impact of special items listed below.

Operating (non-GAAP) earnings* for the second quarter of 2020 were $0.57 per share, near the top end of the company’s guidance. In the second quarter of 2019, operating (non-GAAP) earnings were $0.61 per share.

“I am extremely proud of the performance by our employees during the COVID-19 pandemic,” said Charles E. Jones, FirstEnergy chief executive officer. “They have not missed a beat as they adapted to new work protocols to keep each other safe and continued delivering energy to our customers. At the same time, our fully regulated business model and rate structure are providing a measure of stability through the economic slowdown, and we remain on track to meet our commitments to the investment community.”

“We intend to cooperate fully with the Department of Justice investigation involving the Ohio Speaker of the House, and we will ensure our company’s involvement in supporting HB 6 is understood as accurately as possible,” Jones said. “I believe that FirstEnergy acted ethically in this matter. At no time did our support for Ohio’s nuclear plants interfere with or supersede our ethical obligations to conduct our business properly. I believe the facts will become clear as the investigation progresses.”



The following information was filed by Firstenergy Corp (FE) on Thursday, July 23, 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-Q Quarterly 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-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover Page
Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income (Tables)
Accumulated Other Comprehensive Income - Amounts Reclassified (Details)
Accumulated Other Comprehensive Income - Changes In Aoci (Details)
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Income
Consolidated Statements Of Stockholders' Equity
Consolidated Statements Of Stockholders' Equity (Parenthetical)
Commitments, Guarantees And Contingencies
Commitments, Guarantees And Contingencies (Tables)
Commitments, Guarantees And Contingencies - Narrative (Details)
Commitments, Guarantees And Contingencies - Potential Collateral Obligations (Details)
Discontinued Operations
Discontinued Operations (Tables)
Discontinued Operations - Narrative (Details)
Discontinued Operations - Summarized Results (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 (Tables)
Fair Value Measurements - Carrying Amounts Of Long-Term Debt (Details)
Fair Value Measurements - Investments Held In Trusts (Details)
Fair Value Measurements - Level 3 Quantitative Information (Details)
Fair Value Measurements - Level 3 Rollforward (Details)
Fair Value Measurements - Narrative (Details)
Fair Value Measurements - Proceeds From The Sale Of Investments (Details)
Fair Value Measurements - Recurring Assets And Liabilities (Details)
Income Taxes
Income Taxes (Details)
Organization And Basis Of Presentation
Organization And Basis Of Presentation (Details)
Organization And Basis Of Presentation (Policies)
Organization And Basis Of Presentation (Tables)
Organization And Basis Of Presentation - Activity In Uncollectable Accounts (Details)
Pension And Other Post-Employment Benefits
Pension And Other Post-Employment Benefits (Details)
Pension And Other Post-Employment Benefits (Tables)
Regulatory Matters
Regulatory Matters - Maryland And New Jersey (Details)
Regulatory Matters - Ohio (Details)
Regulatory Matters - Pennsylvania And West Virginia (Details)
Revenue
Revenue (Details)
Revenue (Tables)
Segment Information
Segment Information (Tables)
Segment Information - Financial Data (Details)
Segment Information - Narrative (Details)

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: 0001031296-20-000030
Submitted to the SEC: Mon Aug 17 2020 6:01:30 AM EST
Accepted by the SEC: Mon Aug 17 2020
Period: Tuesday, June 30, 2020
Industry: Electric Services

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