FirstEnergy Files 8-K on Operations, Financial Condition

Ticker: FE · Form: 8-K · Filed: Feb 8, 2024 · CIK: 1031296

Complexity: simple

Sentiment: neutral

Topics: financial-condition, regulation-fd, results-of-operations

TL;DR

**FirstEnergy just dropped an 8-K with fresh financial results and disclosures.**

AI Summary

FirstEnergy Corp. filed an 8-K on February 8, 2024, to report on its results of operations and financial condition, as well as to make a Regulation FD disclosure. This filing indicates that the company is providing updated financial information to the public, which is crucial for investors to understand the company's current performance and future outlook. For shareholders or potential buyers, this matters because it offers transparency into FirstEnergy's financial health, helping them make informed decisions about their investment in the company's Common Stock, traded as FE on the New York Stock Exchange.

Why It Matters

This filing provides investors with the latest financial and operational updates from FirstEnergy, essential for evaluating the company's performance and making informed investment decisions.

Risk Assessment

Risk Level: low — This 8-K is a routine disclosure of financial information and does not inherently introduce new risks, but rather provides data for risk assessment.

Analyst Insight

A smart investor would review the full details of the 'Results of Operations and Financial Condition' and 'Regulation FD Disclosure' mentioned in this 8-K to understand the specific financial performance and any new material information FirstEnergy has released, then compare it against previous filings and analyst expectations.

Key Numbers

Key Players & Entities

FAQ

What is the purpose of FirstEnergy Corp.'s 8-K filing dated February 8, 2024?

The 8-K filing by FirstEnergy Corp. on February 8, 2024, is intended to report on the company's results of operations and financial condition, and to make a Regulation FD Disclosure, as indicated by the 'ITEM INFORMATION' sections.

What is the trading symbol and exchange for FirstEnergy Corp.'s common stock?

FirstEnergy Corp.'s Common Stock, with a $0.10 par value per share, trades under the symbol 'FE' on the New York Stock Exchange, as stated in the 'Securities registered pursuant to Section 12(b) of the Act' section.

Is FirstEnergy Corp. considered an emerging growth company according to this filing?

No, FirstEnergy Corp. is not an emerging growth company, as indicated by the unchecked box next to 'Emerging growth company' in the filing.

What is FirstEnergy Corp.'s state of incorporation and business address?

FirstEnergy Corp. is an Ohio Corporation, and its business address is 76 South Main Street, Akron, OH 44308, with a telephone number of (800) 736-3402, as detailed in the filing.

What is the Central Index Key (CIK) for FirstEnergy Corp.?

The Central Index Key (CIK) for FirstEnergy Corp. is 0001031296, as listed under 'COMPANY DATA' in the filing.

Filing Stats: 2,101 words · 8 min read · ~7 pages · Grade level 16.9 · Accepted 2024-02-08 16:26:14

Key Financial Figures

Filing Documents

02 Results of Operations and Financial Condition

Item 2.02 Results of Operations and Financial Condition On February 8, 2024, FirstEnergy Corp. ("FirstEnergy" or the "Company") issued a press release (the "Release") announcing its financial results for the three months and full year ended December 31, 2023 and providing earnings guidance for the three months ended March 31, 2024 and full year ended December 31, 2024. A copy of the Release is included as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference. The Company has presented certain financial information in accordance with U.S. generally accepted accounting principles ("GAAP") and also on a non-GAAP basis. Management uses these non-GAAP financial measures to evaluate the Company's and its segments' performance and manage its operations and frequently references these non-GAAP financial measures in its decision-making, using them to facilitate historical and ongoing performance comparisons. Management believes that the non-GAAP financial measures included in Exhibits 99.1 and 99.2 and 99.3, referenced below, provide consistent and comparable measures of performance of its businesses on an ongoing basis. Management also believes that such measures are useful to shareholders and other interested parties to understand performance trends and evaluate the Company against its peer group by presenting period-over-period operating results without the effect of certain special items that may not be consistent or comparable across periods or across the Company's peer group. The Company has provided, where possible without unreasonable effort, quantitative reconciliations of the non-GAAP financial measures to the most directly comparable GAAP financial measures in the table on pages five and six of the Release. The information set forth in and incorporated into this Item 2.02 of this Current Report on Form 8-K is being furnished pursuant to Item 2.02 of Form 8-K and shall not be deemed "filed" for purposes of Section 18 of the S

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure In connection with the Release, the Company also made available FirstEnergy's 4Q 2023 Strategic and Financial Highlights and latest annual investor FactBook (the "FactBook"), which are attached as Exhibit 99.2 and Exhibit 99.3 to this Current Report on Form 8-K and incorporated herein by reference. The 4Q 2023 Strategic and Financial Highlights and FactBook are available under the "Investor Relations" section of the Company's website, located at investors.firstenergycorp.com. Website addresses are included as inactive textual references only. Information on the Company's website is not, and will not be deemed to be, a part of this Current Report on Form 8-K or incorporated into any other filings the Company may make with the Securities and Exchange Commission. Important information may be disseminated initially or exclusively via the Company's Investor Relations website; investors should consult the site to access this information. The information set forth in and incorporated into this Item 7.01 of this Current Report on Form 8-K is being furnished pursuant to Item 7.01 of Form 8-K and shall not be deemed "filed" for purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any of the Company's filings under the Securities Act or the Exchange Act, whether made before or after the date hereof and regardless of any general incorporation language in such filings, except to the extent expressly set forth by specific reference in such a filing. The furnishing of this Item 7.01 of this Current Report on Form 8-K shall not be deemed an admission as to the materiality of any information herein that is required to be disclosed solely by reason of Regulation FD.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits ( d) Exhibits Exhibit No. Description 99.1 Press Release issued by FirstEnergy Corp., dated February 8, 2024 99.2 4Q 2023 Strategic and Financial Highlights, dated February 8, 2024 99.3 Annual FactBook, dated February 8, 2024 104 Cover Page Interactive Data File (the cover page XBRL tags are embedded within the Inline XBRL document) Forward-Looking Statements: This Form 8-K includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 based on information currently available to management. Such statements are subject to certain risks and uncertainties and readers are cautioned not to place undue reliance on these forward-looking statements. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the potential liabilities, increased costs and unanticipated developments resulting from government investigations and agreements, including those associated with compliance with or failure to comply with the Deferred Prosecution Agreement entered into July 21, 2021 with the U.S. Attorney's Office for the Southern District of Ohio; the risks and uncertainties associated with government investigations and audits regarding Ohio House Bill 6, as passed by Ohio's 133rd General Assembly ("HB 6") and related matters, including potential adverse impacts on federal or state regulatory matte

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