FirstEnergy Corp

FE: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$15.00	Ljpxbt	Hclcyfqk

FirstEnergy's Pension Headwinds Continue; Reports Third-Quarter Earnings

Andrew Bischof

Oct 26, 2022

We are lowering our FirstEnergy fair value estimate to $40 per share from $41 after the company reported third-quarter operating earnings of $0.79 per share, compared with $0.82 in the same year-ago period. Management guided toward the upper end of its 2022 operating earnings guidance range of $2.30 to $2.50 per share, in line with our estimate. Our narrow moat and stable moat trend remain unchanged.

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