FirstEnergy Corp

XMUN:FE7

Guidance reaffirmed: FirstEnergy reaffirmed its 2026 capital plan of $6 billion and core earnings guidance of $2.62 to $2.82 per share, while also backing its $36 billion five-year plan and 6% to 8% earnings growth target through 2030.

Data center surge: Forecasted data center demand rose 30% since Q1 to about 25 gigawatts, with 6.4 gigawatts now contracted and another 1.5 gigawatts expected to sign in the next couple of weeks.

West Virginia upside: Management said West Virginia is the clearest near-term growth opportunity, with 4.3 gigawatts of contracted and pipeline demand there and progress on the 1.2 gigawatt Maidsville Energy Center.

Regulatory progress: The company described its West Virginia, Ohio, New Jersey and Maryland regulatory efforts as constructive, and said New Jersey filing plans remain on track despite broader policy uncertainty.

Financial performance: Q2 core earnings were $0.50 per share, down from $0.52 a year ago but in line with plan, while year-to-date core earnings were $1.22 per share versus $1.19 last year.

Capital intensity: FirstEnergy deployed $2.9 billion of its 2026 capital plan in the first half, up 19% versus 2025, and said incremental data center and generation opportunities could add to the current plan.