Document

第99.1展示文本


第一能源股份有限公司。						發佈資訊: 2024年10月29日
南主街76號
俄亥俄州44308阿克倫www.firstenergycorp.com Tricia Ingraham Gina Caskey (330) 384-5247 (330) 761-4185 第一能源宣佈2024年第二季度財務業績報告
www.firstenergycorp.com


資訊媒體聯繫人：						投資者聯繫人：
特里西亞•英格拉姆						吉娜·卡斯基
(330) 384-5247						(330) 761-4185

第一能源宣佈2024年第三季度財務業績

報告2024年第三季度持續經營的每股GAAP盈利爲0.73美元和每股0.85美元的運營（非GAAP）收益，處於指導區間內

將全年2024年的運營（非GAAP）盈利指引調低至每股2.61美元至2.71美元

將2024年的資本投資計劃從43億美元增加到46億美元，增幅約爲7%，比2023年高出24%

確認目標長期年度營運收益增長爲6-8%

俄亥俄州阿克倫——FirstEnergy Corp.（紐約證券交易所代碼：FE）今天公佈2024年第三季度持續經營業務的GAAP收益爲419美元百萬，或 0 美元.每股基本和攤薄後每股73股，收入爲37億美元。相比之下，2023年第三季度來自持續經營業務的GAAP收益爲4.21億美元，合每股基本股收益0.74美元（攤薄後0.73美元），收入爲35億美元。這兩個時期的GAAP業績都包括下面列出的特殊項目的影響。

2024年第三季度的營運（非通用會計準則）盈利爲每股0.85美元，在公司的指引區間內。2023年第三季度，營運（非通用會計準則）盈利爲每股0.88美元。

「我們的財務結果表明了我們受監管的投資策略的實力以及堅韌的文化、財務紀律和持續改進」，Brian X. Tierney，總裁兼首席執行官說。“雖然今年我們面臨了多個逆風，我們

整個團隊已經做出回應，取得了符合我們財務承諾的成果。我爲我們今年取得的進展感到自豪。

FirstEnergy將2024年的營運（非GAAP）收益預期區間縮小至每股2.61至2.71美元，原始範圍爲每股2.61至2.81美元，這反映了與正常氣候相比，客戶需求減少、俄亥俄州分配收入降低（由於《電力安全計劃V令》訂單）、以及第三季度風暴搶修成本顯著增加，部分抵消了營業費用降低。

該公司將2024年資本投資計劃增加了30000萬美元至46億美元，較2023年水平增長了24%。

「2024年，我們面臨了一系列未預料到的挑戰，但我們仍然按計劃推動我們價值260億美元的Energize365資本投資計劃和我們長期目標的年度收益增長率6%至8%，該增長率基於前一年度中間營業收益指導數，」Tierney說。

第三季度結果

2024年第三季度的業績受益於公司的Energize365投資計劃，包括配電和變電器公式費率計劃的基數增長和基本費率調整的影響，以及2023年溫和氣溫帶來的銷售增長。這些推動因素部分被更高的風暴恢復費用、與於2024年3月25日結束的FirstEnergy Transmission, LLC的30%持股出售相關的攤薄以及更低的稅收優惠所抵消。

與2023年第三季度相比，總配送量增加了2.5%，反映出冷卻度日較去年增加15%，主要與2023年溫和的溫度有關，比正常水平高7%。根據天氣調整的基礎上，總配送量基本持平。住宅客戶的用量下降了1.4%，商業用量保持不變，工業需求比2023年第三季度增加了2.1%。

今年早些時候，公司引入了新的細分報告以增強透明度並與其經營結構保持一致。2023年的分部業績已經重分類以進行比較。

2024年第三季度分銷領域的營運收益，每股增加0.02美元，相較於2023年第三季度。2024年第三季度的天氣相關的客戶需求增加，部分抵消了因俄亥俄公司電力安防計劃V導致的更低的分銷資本車房收入。

在綜合業務部門，2024年第三季度的營運收入比2023年第三季度增加了0.09美元/股，主要是由於基本費率調整的影響，公式費率投資項目的費率基準增長，以及天氣相關的配電客戶需求增加。這些項目部分抵銷了較高的風暴恢復開支。

在獨立的變速器業務板塊，2024年第三季度營運收益每股減少了$0.04。如果調整第一能源變速器有限責任公司30%的出售，該板塊本季度的營運結果將每股增加$0.02。該板塊的總費率基數同比增長10%，達到84億美元。

2024年第三季度企業/其他部門的營運業績下降0.10美元/股，因減少所得稅優惠和由於FirstEnergy Corp.債務贖回導致的較低利息成本部分抵消了該公司在Signal Peak煤礦的傳統投資計劃收入降低。

年初至今的結果

截至2024年前九個月，第一能源報告的持續運營的普通會計準則收入爲71700萬美元，每股基本股爲1.25美元(攤薄1.24美元)，營業收入爲103億美元。相比之下，2023年前九個月的持續運營普通會計準則收入爲94800萬美元，每股基本股爲1.66美元(攤薄1.65美元)，營業收入爲97億美元。兩個時期的普通會計準則結果均反映下面列出的特殊事項的影響。

2024年前九個月的營業(非普通會計準則)每股收益爲1.96美元，2023年前九個月爲每股1.94美元。

2024年前九個月的營業結果反映了公司受監管投資策略持續增長的影響，基準利率調整的影響，較高的與2023年氣溫較溫和相關的分銷銷售，以及與2023年前九個月相比較低的淨利息支出。這些因素完全抵消了更高的風暴恢復成本、計劃營業費用和公司出售FirstEnergy Transmission, LLC 30%股權的稀釋效應。


	持續運營的合併企業會計淨收益每股收益（EPS）到經營（非通用會計準則）每股收益對賬
		截至9月30日的三個月		截至9月30日的九個月
		2024	2023	2024	2023
歸屬於FirstEnergy Corp.的持續運營淨收益（根據通用會計準則）- 億美元		$419	$421	$717	$948
基本-持續運營每股收益（根據通用會計準則）		$0.73	$0.74	$1.25	$1.66
不包括特殊項目：
	資產退休義務監管變更	—	—	0.28	—
	債務相關成本	—	—	0.12	0.05
	提高員工養老金和其他相關成本	0.01	0.07	0.01	0.10
	新世代退出	—	0.01	—	0.02
	前瞻成本實現	0.08	0.01	0.09	0.07
	調查和其他相關成本	0.03	0.03	0.10	0.07
	按市場價調整 - 養老金/OPEb 資產負債假設	—	—	—	(0.06)
	監管費用	—	0.02	0.03	0.03
	戰略交易費用	—	—	0.08	—
	總特殊項目	0.12	0.14	0.71	0.28
營運每股收益（非GAAP）		$0.85	$0.88	$1.96	$1.94

上述特定項目的每股金額，是根據每項的稅後效應除以當期未來的流通股數來計算的。如果可以抵扣/納稅，所得稅效應是通過適用子公司的法定稅率來計算的，所得稅率範圍爲21%至29%。持續業務的基本每股收益（GAAP）和營運每股收益（非GAAP）是基於2024年第三季度的57600萬股、2024年頭九個月的57500萬股以及2023年第三季度和頭九個月的57300萬股。

Non-GAAP Financial Measures

We refer to certain financial measures, including Operating earnings (loss) and Operating earnings (loss) per share (EPS), including by segment, as “non-GAAP financial measures,” which are not calculated in accordance with U.S. Generally Accepted Accounting Principles (GAAP) and exclude the impact of “special items,” on the following measures: Total revenues, Total operating expenses, Total other expense, and Earnings (loss) attributable to FirstEnergy Corp. from continuing operations, as included in the table above. Operating earnings (loss) and Operating EPS, including by segment, also exclude the impact of Discontinued Operations. 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 of Operating earnings (loss) and Operating EPS, including by segment, 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. These non-GAAP financial measures are intended to complement, and are not considered as alternatives to, the most directly comparable GAAP financial measures, which for Operating EPS is EPS attributable to FirstEnergy Corp. from Continuing Operations (GAAP), as reconciled in the above table. Also, such non-GAAP financial measures may not be comparable to similarly titled measures used by other entities.

Special items represent charges incurred or benefits realized that management believes are not indicative of, or may obscure trends useful in evaluating the company’s ongoing core activities and results of operations or otherwise warrant separate classification. Operating EPS is calculated by dividing Operating earnings (loss), which excludes special items and Discontinued Operations as discussed above, for the periods presented by the weighted average number of common shares outstanding in the respective period. Special Items for the period can be found in more detail in the Company’s Strategic and Financial Highlights, available at www.firstenergycorp.com/ir.

Forward-Looking Non-GAAP Measures

A reconciliation of forward-looking non-GAAP measures, including 2024 Operating EPS and long-term annual Operating EPS growth projections, to the most directly comparable GAAP measures is not provided because comparable GAAP measures for such measures are not reasonably available without unreasonable efforts due to the inherent difficulty in forecasting and quantifying measures that would be necessary for such reconciliation. Specifically, management cannot, without unreasonable effort, predict the impact of these special items in the context of Operating EPS guidance and long-term annual Operating EPS growth rate projections because these items, which could be significant, are difficult to predict and may be highly variable. In addition, the company believes such a reconciliation would imply a degree of precision and certainty that could be confusing to investors. These special items are uncertain, depend on various factors and may have a material impact on our future GAAP results.

Investor Materials and Teleconference

FirstEnergy’s Strategic and Financial Highlights presentation is posted on the company’s Investor Information website – www.firstenergycorp.com/ir. It can be accessed through the Third Quarter 2024 Financial Results link. Important information may be disseminated initially or exclusively via the company’s Investor Information website; investors should consult the site to access this information.

The company invites investors, customers and other interested parties to listen to a live webcast of its teleconference for financial analysts and view presentation slides at 9:00 a.m. EDT tomorrow. FirstEnergy management will present an overview of the company’s financial results followed by a question-and-answer session. The teleconference and presentation can be accessed on the Investor Information website by selecting the Third Quarter 2024 Earnings Webcast link. The webcast and presentation will be archived on the website.

FirstEnergy is dedicated to integrity, safety, reliability and operational excellence. Its electric distribution companies form one of the nation's largest investor-owned electric systems, serving more than six million customers in Ohio, Pennsylvania, New Jersey, West

Virginia, Maryland and New York. The company’s transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com and on X @FirstEnergyCorp.

Forward-Looking Statements: This news release includes forward-looking statements 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 matters, including, but not limited to, matters relating to rates; the risks and uncertainties associated with litigation, arbitration, mediation and similar proceedings, particularly regarding HB 6 related matters; changes in national and regional economic conditions, including recession, volatile interest rates, inflationary pressure, supply chain disruptions, higher fuel costs, and workforce impacts, affecting us and/or our customers and those vendors with which we do business; variations in weather, such as mild seasonal weather variations and severe weather conditions (including events caused, or exacerbated, by climate change, such as wildfires, hurricanes, flooding, droughts, high wind events and extreme heat events) and other natural disasters affecting future operating results and associated regulatory actions or outcomes in response to such conditions; legislative and regulatory developments, including, but not limited to, matters related to rates, energy regulatory policies, compliance and enforcement activity, cyber security, and climate change; the risks associated with physical attacks, such as acts of war, terrorism, sabotage or other acts of violence, and cyber-attacks and other disruptions to our, or our vendors’, information technology system, which may compromise our operations, and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information; the ability to meet our goals relating to employee, environmental, social and corporate governance opportunities, improvements, and efficiencies, including our greenhouse gas (“GHG”) reduction goals; the ability to accomplish or realize anticipated benefits through establishing a culture of continuous improvement and our other strategic and financial goals, including, but not limited to, overcoming current uncertainties and challenges associated with the ongoing government investigations, executing Energize365, our transmission and distribution investment plan, executing on our rate filing strategy, controlling costs, improving credit metrics, maintaining investment grade ratings, and growing earnings; changing market conditions affecting the measurement of certain liabilities and the value of assets held in our pension trusts may negatively impact our forecasted growth rate, results of operations, and may also cause us to make contributions to our pension sooner or in amounts that are larger than currently anticipated; mitigating exposure for remedial activities associated with retired and formerly owned electric generation assets, including those sites impacted by the legacy coal combustion residual rules that were finalized during 2024; changes to environmental laws and regulations, including, but not limited to, rules recently finalized by the Environmental Protection Agency and the Securities and Exchange Commission (“SEC”) related to climate change; changes in customers’ demand for power, including, but not limited to, economic conditions, the impact of climate change, emerging technology, particularly with respect to electrification, energy storage and distributed sources of generation; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us, including the increasing number of financial institutions evaluating the impact of climate change on their investment decisions; future actions taken by credit rating agencies that could negatively affect either our access to or terms of financing or our financial condition and liquidity; changes in assumptions regarding factors such as economic conditions within our territories, the reliability of our transmission and distribution system, generation resource planning, or the availability of capital or other resources supporting identified transmission and distribution investment opportunities; the potential of non-compliance with debt covenants in our credit facilities; the ability to comply with applicable reliability standards and energy efficiency and peak demand reduction mandates; human capital management challenges, including among other things, attracting and retaining appropriately trained and qualified employees and labor disruptions by our unionized workforce; changes to significant accounting policies; any changes in tax laws or regulations, including, but not limited to, the Inflation Reduction Act of 2022, or adverse tax audit results or rulings; and the risks and other factors discussed from time to time in our SEC filings. Dividends declared from time to time on FirstEnergy Corp.’s common

stock during any period may in the aggregate vary from prior periods due to circumstances considered by FirstEnergy Corp.’s Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward-looking statements are also qualified by, and should be read together with, the risk factors included in FirstEnergy Corp.’s Form 10-K, Form 10-Q and in FirstEnergy's other filings with the SEC. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on FirstEnergy Corp.’s business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy Corp. expressly disclaims any obligation to update or revise, except as required by law, any forward-looking statements contained herein or in the information incorporated by reference as a result of new information, future events or otherwise.

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