FirstEnergy Corp

FE: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$23.00	Njhzfh	Rwpckygmp

FirstEnergy Earnings: New Management Continues Strong Execution

Andrew Bischof

Jul 31, 2024

We are maintaining our $43 fair value estimate for FirstEnergy after the company reported second-quarter earnings per share of $0.56, up from $0.47 in the year-ago period. Management reaffirmed its 2024 operating EPS guidance of $2.61-$2.81, consistent with our expectations. Management also reaffirmed its long-term 6%-8% annual earnings growth guidance through 2028, of which we expect the company to achieve the midpoint.

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