Filing Flows › Firstenergy (FE) › Q1 2026 › vs Q4 2025
Firstenergy (FE) Q1 2026 vs Q4 2025 (quarter over quarter)
Firstenergy's revenue rose $405M (+11%) from $3.8B in Q4 2025 to $4.2B in Q1 2026. The biggest changes: Distribution services and retail generation +$207M (+7%); Other +$141M (+75%); Transmission +$57.0M (+10%). Operating margin 19.7% against -0.6% (+20.3 pts).
Firstenergy, Q1 2026: revenue $4.2B (+12% year over year), operating margin 19.7%, net earnings $405M, operating cash flow $148M. The chart draws each line against Q4 2025, the increases inside each band.
Margins
| Q1 2026 | Q4 2025 | Change | |
|---|---|---|---|
| Operating margin | 19.7% | -0.6% | +20.3 pts |
| Net margin | 9.6% | -1.3% | +10.9 pts |
Every line
| Line | Q1 2026 | Q4 2025 | Change | % |
|---|---|---|---|---|
| Distribution services and retail generation | $3.2B | $3.0B | $207M | +7% |
| Transmission | $628M | $571M | $57.0M | +10% |
| Other | $330M | $189M | $141M | +75% |
| Revenue | $4.2B | $3.8B | $405M | +11% |
| Operating profit | $828M | −$24.0M | $852M | — |
| Costs & expenses | $3.4B | $3.8B | −$447M | -12% |
| Pre-tax earnings | $604M | $3.0M | $601M | 201× |
| Other expense, net | $224M | −$27.0M | $251M | — |
| Net earnings | $405M | −$49.0M | $454M | — |
| Minority interests | $61.0M | $56.0M | $5.0M | +9% |
| Income tax | $138M | −$4.0M | $142M | — |
| Operating cash sources | $826M | $372M | $454M | +122% |
| Depreciation | $421M | $421M | $0 | 0% |
| Working capital & other | $678M | −$764M | $1.4B | — |
| Operating cash flow | $148M | $1.1B | −$988M | -87% |
| Capital expenditures | $1.3B | $1.2B | $89.0M | +8% |
| Negative free cash flow (OCF − capex) | $1.1B | $30.0M | $1.1B | 37× |
Questions
How much did Firstenergy's revenue grow quarter over quarter in Q1 2026?
Firstenergy's revenue rose $405M (+11%) from $3.8B in Q4 2025 to $4.2B in Q1 2026.
What drove Firstenergy's revenue change in Q1 2026?
Distribution services and retail generation +$207M (+7%); Other +$141M (+75%); Transmission +$57.0M (+10%).