Firstenergy Corp. · NYSE:FE
Firstenergy — Non-Deal Roadshow (June 2024)
12 slides from Firstenergy's roadshow presentation, Jun 4, 2024
Slide 1: Focused on Our Future
Focused on Our Future June 2024 Investor Meetings June 2024
Slide 2: FirstEnergy is a Different Company
FirstEnergy is a Different Company June 20242 A Strong Balance Sheet A Significant Platform for Growth A New Operating Model A New Management Team An Enhanced Culture Focused on Accountability and Driving Results
Slide 3: Strategic Plan
Strategic Plan Invest in regulated properties, improve the customer experience and enable the energy transition June 20243 CapEx from $4.3B in 2024 to $6.2B in 2028 with ~75% under formula rate recovery Value Proposition Execution Baseline O&M Totaling ~$1.35B-$1.45B annually 2024-2028; with continu
Slide 4: Execution is key to success: Our Business Model
4 Execution is key to successJune 2024 Our Business Model FINANCE: Solid returns and low cost of capital provides sustainable funding Exceeded EPS goals in ‘22, ‘23. Targeting 7% EPS growth in ’24, improved quality of EPS Closed on efficient $3.5B FET transaction Investment grade with all ra
Slide 5: Our Leadership Structure and Culture Efforts
Our Leadership Structure and Culture Efforts June 20245 Brian Tierney President & CEO Wade Smith President, FE Utilities Torrence Hinton President, OH John Hawkins President, PA Doug Mokoid President, NJ [Open] President, WV/MD Mark Mroczynski President, Transmission Amanda Mertens Campbell VP, Exte
Slide 6: Strengthened Balance Sheet to Drive Growth
Strengthened Balance Sheet to Drive Growth ■ Closed on FET 30% interest sale totaling $3.5B in March 2024 – Total equity proceeds of ~$7B since late 2021, equivalent to issuing common equity at $87/sh or 36x LTM P/E – FET 30% Sale: $3.5B with Brookfield, closed March 2024 – FET 19.9% Sale: $2.4B wit
Slide 7: Key Regulatory Initiatives
Key Regulatory Initiatives June 20247 JCP&L Base Rate Case: Implementation of base rate case effective February 15, 2024, with rates effective for customers on June 1, 2024; $85M Rate adjustment, 9.6% Allowed ROE, 52% Equity ratio Investment Infrastructure Program (IIP): Filed in November 2023 and u
Slide 8: Our Value Proposition
Our Value Proposition June 20248 (1) As measured year-over-year off prior midpoint guidance. The amount and timing of items impacting comparability makes a detailed reconciliation of forward-looking non-GAAP financial measures impracticable. Please see slide 12 for more information. Strong Growth Ou
Slide 9: Appendix
Appendix June 2024 Focused on Our Future 9
Slide 10: Business Unit President Biographies
Business Unit President Biographies John Hawkins (President, PA) joined FirstEnergy in 2022 as Vice President, Operations Support & Distribution Engineering, overseeing numerous departments that support distribution, transmission and customer experience functions. Prior to FirstEnergy, he served in
Slide 11: Forward-Looking Statements
Forward-Looking Statements June 202411 This presentation 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 a
Slide 12: Non-GAAP Financial Matters
Non-GAAP Financial Matters June 202412 This presentation contains references to certain financial measures including Baseline O&M, Operating earnings (loss) and Operating earnings (loss) per share (“EPS”), including by segment and the impact of special items on the following measures: Total revenues