Firstenergy Corp. · NYSE:FE
Firstenergy — Investor Presentation (November 2021)
15 slides from Firstenergy's investor presentation, Nov 8, 2021
Slide 1: Financial Guidance: Focused on Our Future
Financial GuidanceFocused on Our Future Investor FactBook – Published November 8, 202117
Slide 2: 2022 Operating EPS Guidance
2022 Operating EPS(1) Guidance Investor FactBook – Published November 8, 202118 2021F Revised Operating EPS Midpoint (2) (545M shares) 2022 Guidance Range: $2.30 - 2.50 2022F Operating EPS Midpoint(3) (573M shares) (1) See Slide 75 for information on Non-GAAP Financial Matters (2) See Slides 72 and
Slide 3: Dividend Overview
Dividend Overview Investor FactBook – Published November 8, 202119 ■ 2019: ~6% dividend increase ■ 2020: ~3% dividend increase ■ 2021F: Maintain dividend at $1.56 per share ■ 2022F: Maintain dividend at $1.56 per share Dividend payments are subject to declaration by the Board of Directors, which wil
Slide 4: Sustainable Investment Plan (2021-2025)
Sustainable Investment Plan (2021-2025) Investor FactBook – Published November 8, 202120 (1) Includes capital-like investments that earn a return (2) Subject to future regulatory approvals Note: Does not include JCP&L’s proposal to support NJ offshore wind projects Will be deployed to strengthen the
Slide 5: Investment Plan Summary (2021-2025)
Investment Plan Summary (2021-2025) Investor FactBook – Published November 8, 202121 ($M) 2021F 2022F 2023F 2024F 2025F RD $1,770 $1,790 $1,725 $1,770 $1,830 RT 1,070 1,490 1,600 1,695 1,750 Corp/Other 90 65 55 55 55 FE Consolidated ~$2.9B ~$3.3B ~$3.4B ~$3.5B ~$3.6B ~$17B investment plan to strengt
Slide 6: Rate Base Summary (2021-2025)
Rate Base Summary (2021-2025) Investor FactBook – Published November 8, 202122 Notes: Amounts exclude average CWIP balances of $500M - $750M per year for RD and $500M - $1,400M per year for RT. Includes capital-like investments that earn a return. We expect to update the forecast over the period for
Slide 7: 2021-2022 RD Support
2021-2022 RD Support Investor FactBook – Published November 8, 202123 Notes: Rate base amounts exclude average CWIP balances of $500M - $550M per year, except in MD. Includes capital-like investments that earn a return. We expect to update the forecast over the period for items such as regulatory fi
Slide 8: 2021-2022 RT Support
2021-2022 RT Support Investor FactBook – Published November 8, 202124 Investments in innovation, new technologies, and preparing for a future of renewable energy Sustainable investment plan through 100% formula rates Increasing investments to ~$1.5B in 2022 ($M) 2021F 2022F ATSI $350 $390 MAIT 320 4
Slide 9: 2021-2022 Debt Financing Plan
2021-2022 Debt Financing Plan ($M) Investor FactBook – Published November 8, 202125 (1) Maturity date 01/15/2022 2022F Entity Refinancing New Total Segment OE $- $300 $300 RD: $400PP 100 - 100 FE $100 $300 $400FE 2021F Entity Refinancing New Total Segment ✓ FET $- $500 $500 RT: $1,250 ✓ MAIT - 150 1
Slide 10: Weather-Adjusted Distribution Deliveries
Weather-Adjusted Distribution Deliveries Investor FactBook – Published November 8, 202126 Total Deliveries (M MWHs) (1) Commercial includes street lighting ‘21F ‘22F ‘23F ‘24F ‘25F Total 146 148 148 150 149 Res 56 55 54 55 54 Com 36 37 36 36 36 Ind 54 57 58 59 59 Residential ‘21F ‘22F % Chg Sub-Tota
Slide 11: 2021-2022 Guidance Sensitivities RD Segment
2021-2022 Guidance Sensitivities RD Segment Investor FactBook – Published November 8, 202127 ■ ~80-90% of Commercial and Industrial revenues are based on fixed charges ■ Residential class is more sensitive to changes in volume due to a higher percentage of volume-based revenues Weather Impact on Res
Slide 12: 2021F GAAP to Operating (Non-GAAP) Earnings Reconciliation
2021F GAAP to Operating (Non-GAAP) Earnings(1) Reconciliation Investor FactBook – Published November 8, 202172 (1) Operating earnings exclude special items as described in the reconciliation table above and is a non-GAAP financial measure. (2) Estimate based on a discount rate of ~3% and actual inve
Slide 13: 2021F Special Items
2021F Special Items(1) Investor FactBook – Published November 8, 202173 (1) Special items represent charges incurred or benefits realized, including share dilution, that management believes are not indicative of, or may obscure trends useful in evaluating the company’s ongoing core activities and re
Slide 14: Forward-Looking Statements
Forward-Looking Statements Investor FactBook – Published November 8, 202174 This FactBook 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 risk
Slide 15: Non-GAAP Financial Matters
Non-GAAP Financial Matters Investor FactBook – Published November 8, 202175 This presentation contains references to non-GAAP financial measures including, among others, Operating earnings (loss), Operating earnings (loss) per share (EPS), Operating earnings (loss) per share (EPS) by segment, Free C