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Firstenergy Corp (FE) SEC Filing 10-Q Quarterly Report for the period ending Wednesday, March 31, 2021

Firstenergy Corp

CIK: 1031296 Ticker: FE

Exhibit 99.1
FirstEnergy Corp.
For Release: February 18, 2021
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 Fourth Quarter and Full Year 2020 Financial Results
Provides Guidance for First Quarter and Full-Year 2021

Akron, Ohio – FirstEnergy Corp. (NYSE: FE) today reported full-year 2020 GAAP earnings of $1.1 billion, or $1.99 per basic and diluted share of common stock, on revenue of $10.8 billion. In 2019, the company reported GAAP earnings of $908 million, or $1.70 per basic share ($1.68 diluted) of common stock, on revenue of $11 billion. Results include the impact of special items listed below.

Operating (non-GAAP) earnings* were $2.39 per share in 2020. In 2019, operating (non-GAAP) earnings were $2.58 per share.

“Our fundamental performance in 2020 was solid, and we continued making progress on our strategic goals. This is a testament to our team’s dedication, commitment to customer service, and focus on execution, even in the face of unprecedented challenges,” said Steven E. Strah, FirstEnergy’s president and acting chief executive officer. “As we move forward, our leadership team is committed to continue taking decisive actions to put our company on the right path, with integrity and transparency. We remain focused on providing reliable service to our customers while delivering operational and safety excellence and strong financial results.”

FirstEnergy provided a full-year 2021 GAAP and operating (non-GAAP) earnings guidance range of $1,305 million to $1,415 million, or $2.40 to $2.60 per share based on 544 million shares outstanding. For the first quarter of 2021, FirstEnergy expects GAAP and operating (non-GAAP) earnings in the range of $335 million to $390 million, or $0.62 to $0.72 per share.

The company also affirmed its plan to issue up to $600 million in equity annually in 2022 and 2023.







The following information was filed by Firstenergy Corp (FE) on Thursday, February 18, 2021 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 2021 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

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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
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Income
Consolidated Statements Of Income (Parenthetical)
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 (Policies)
Organization And Basis Of Presentation (Tables)
Organization And Basis Of Presentation - Activity In Uncollectable Accounts (Details)
Organization And Basis Of Presentation - Narrative (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: 0001031296-21-000047
Submitted to the SEC: Thu Apr 22 2021 4:24:15 PM EST
Accepted by the SEC: Thu Apr 22 2021
Period: Wednesday, March 31, 2021
Industry: Electric Services

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