Firstenergy Corp Stock Price, News & Analysis

FirstEnergy Corp. has donated $100,000 to Lunch Break, a food and social services resource center in Red Bank, New Jersey, to support its "Renew the Promise of Hope Capital Campaign." This initiative aims to renovate and expand facilities to meet the increasing needs of the Monmouth County area. In 2021, Lunch Break served nearly 90,000 meals and distributed over $900,000 in COVID-19 emergency funds. The donation demonstrates FirstEnergy's commitment to community support and involvement.

FirstEnergy has donated 300 trees to Mill Creek MetroParks in Mahoning County, Ohio, to celebrate Earth and Arbor Days. This initiative, part of a larger commitment to environmental sustainability, has seen the company plant over 17,000 trees since April 2021, with plans to plant an additional 14,000 this spring. The tree-planting event involved employee volunteers and aims to restore forested habitats. The company will also donate 400 trees to the Poland Municipal Forest to celebrate Arbor Day, reflecting its ongoing commitment to reducing carbon footprint and supporting community efforts.

FirstEnergy Corp. announced the construction of a new transmission substation in Ashland County, Ohio, through its subsidiary American Transmission Systems, Inc. This $11.6 million project, which began in September 2021, aims to meet future energy demands and enhance service reliability for over 22,000 Ohio Edison customers. The substation, covering 89,500 square feet, will connect several high-voltage lines, improving flexibility and reducing outage frequency. Completion is targeted for August 2022 as part of the multi-year Energizing the Future initiative, which has already reduced equipment-related outages by 50% in Ohio.

FirstEnergy Corp. (NYSE: FE) is partnering with the West Virginia Herbert Henderson Office of Minority Affairs to enhance job opportunities for minority candidates and identify minority-owned businesses for its supplier diversity program. This collaboration aims to increase the number of racially and ethnically diverse employees by 30% by 2025 and achieve 20% of its supply chain spend with diverse suppliers by the same year. FirstEnergy has job openings in various fields, including meter reading and engineering. The company plans to participate in HHOMA's Minority Expo on April 28, 2022.

FirstEnergy's subsidiary, Ohio Edison, is enhancing electric service in the Youngstown area through grid modernization. The initiative benefits over 20,000 customers by installing new automated equipment in substations and power lines to reduce outages. Key upgrades include nearly 40 automated reclosing devices aimed at improving service reliability. This work builds on previous upgrades, reducing average restoration times by about 30 minutes during severe weather. The project is expected to finish by the end of the year and includes additional tree-trimming and equipment inspections to further bolster infrastructure.

FirstEnergy Corp. (FE) reported Q1 2022 GAAP earnings of $288 million, or $0.51 per share, on revenue of $3.0 billion, reflecting a decline from Q1 2021's earnings of $335 million ($0.62 per share) despite a revenue increase from $2.7 billion. Operating (non-GAAP) earnings stood at $0.60 per share, consistent with the guidance midpoint. The company affirmed its full-year GAAP earnings guidance of $1.355 billion to $1.470 billion ($2.37 to $2.57 per share). For Q2 2022, it projects earnings between $265 million and $320 million ($0.46 to $0.56 per share).

FirstEnergy Corp. (NYSE: FE) has donated 500 trees to Massillon Community Park in Stark County, Ohio, as part of their Earth and Arbor Day celebrations. Since April 2021, the company has planted over 17,000 trees and aims to plant an additional 14,000 this spring, contributing to sustainability efforts. Led by their Green Team, this initiative aligns with their commitment to reducing carbon footprints and promoting responsible resource use. This year's donation will be followed by another 1,400 trees planted at various parks, showcasing FirstEnergy's dedication to environmental stewardship.