FirstEnergy Corp (FE) — Q2 2026 Earnings Preview

1. Earnings Preview

Key Takeaway: Setup is balanced-to-slightly-positive — consensus Core EPS of $0.51 is a modest bar given management's back-half-weighted guidance, and the biggest swing factor is whether FE can announce contracted data center demand nearly doubling (as flagged on the Q1 call) and provide an update on the West Virginia CPCN hearings held in mid-July.

Heading into Q2 2026, FirstEnergy faces a deliberately low consensus bar: the street is modeling Core EPS of ~$0.51, well below Q1's $0.72 and Q3's typical seasonal peak, consistent with management's explicit guidance that "most of the remaining earnings growth compared to 2025 will materialize in the second half of the year." The guidance posture is unchanged and confident — FY 2026 Core EPS guidance of $2.62–$2.82 was reaffirmed at Q1 earnings and again in the June 1 investor presentation, with management targeting near the top end of the 6–8% long-term CAGR. Estimate revisions have been modestly negative since Q1 (Q2 consensus slipped from $0.57 to $0.51 post-print), reflecting the seasonal trough and not a fundamental deterioration, while FY 2026 consensus of $2.78 sits comfortably within the guidance range. The stock has essentially flatlined since Q1 earnings (FE indexed at ~99.5 vs. SPY at ~103.8), underperforming the market but roughly in line with XLU, suggesting the market is not pricing in a beat or a miss — it is waiting for catalysts. The key wildcard is the West Virginia CPCN outcome: hearings concluded mid-July and management guided for approval "early in Q4," but any earlier signal or incremental data center contract announcement (management flagged ~4 GW in final negotiations expected to nearly double contracted demand within Q2) could be a meaningful positive catalyst on the call.

Bar: Consensus Core EPS of $0.51 is a low bar — Q2 is seasonally the weakest quarter for FE, and management has explicitly guided for back-half earnings weighting. The prior year Q2 2025 actual was $0.52, so the street is essentially modeling flat YoY, which should be beatable given formula-rate transmission growth and O&M discipline.

Guidance/Tone: Management tone has been consistently confident since Q1 — no guidance revision, reaffirmed at the June investor presentation, and the West Virginia data center pipeline grew 50% between February and April. No signs of caution.

Estimate Trajectory: Q2 2026 Core EPS estimates drifted down ~9% from $0.57 (as of May 3, 2026) to $0.51 (current), likely reflecting seasonal shaping rather than fundamental cuts. FY 2026 estimates are essentially flat at $2.78 vs. $2.83 at the post-Q1 baseline — no meaningful divergence from guidance.

Stock Setup: FE trades at roughly 18x NTM Core EPS, in line with regulated utility peers. The stock has not re-rated despite accelerating CapEx and data center optionality, suggesting the market is waiting for execution proof points (CPCN approval, contracted demand doubling) before awarding a premium multiple.

Wildcard: West Virginia CPCN regulatory outcome and the data center contracted demand update. Management guided for ~4 GW in final contract negotiations expected to nearly double contracted demand within Q2 — if confirmed on the call, this would be a significant positive catalyst for the WV generation investment thesis.

2. KPIs & Consensus Expectations

Key Takeaway: Consensus sets a low bar for Q2 — Core EPS of $0.51 implies flat YoY growth in the seasonally weakest quarter, and total revenue of $3.54B is below Q2 2025's $3.38B on a reported basis. Core EPS is the primary swing factor; transmission revenue growth and O&M discipline are the key drivers to watch.

Table 1 — Current Quarter Snapshot (Q2 2026)

Source: Visible Alpha Consensus and Actuals Data. Q2 2026 Consensus as of July 28, 2026. Core EPS = EPS-Diluted - Operating($). Q1 2026 Operating EBITDA actual reflects the $989.5M reported figure. Note: Q2 2025 revenue actuals reflect reported figures; Q2 2026 consensus revenue of $3.54B implies modest YoY growth driven by formula-rate transmission step-ups.

Table 2 — Beat/Miss History (Last 8 Quarters, Core EPS & Total Revenue)

Source: Visible Alpha Consensus and Actuals Data. Core EPS = EPS-Diluted - Operating($). Beat/miss pattern: FE has beaten Core EPS in 4 of the last 8 quarters, missed in 3, and was in-line in 1; revenue beats have been more consistent in recent quarters (Q1–Q3 2025) but the series is noisy due to pass-through fuel cost volatility. The Q4 2024 Core EPS beat (+22.5%) was the standout; Q3 2024 and Q4 2025 were notable misses driven by timing items.

3. Guidance & Commentary Evolution

Key Takeaway: FY 2026 Core EPS guidance of $2.62–$2.82 has been unchanged since the Q4 2025 earnings call and was reaffirmed at the June 1 investor presentation. No guidance revision; tone is consistently confident with management targeting near the top end of the 6–8% long-term CAGR and accelerating CapEx deployment.

4. Guidance vs. Estimate Revision Tracker

Key Takeaway: Q2 2026 Core EPS estimates have drifted ~9% lower since the post-Q1 baseline (from $0.57 to $0.51), consistent with seasonal shaping rather than fundamental cuts. FY 2026 estimates are essentially flat and sit comfortably within guidance, suggesting no meaningful divergence risk. The gap between current consensus ($2.78) and the guidance midpoint ($2.72) implies the street is already modeling near the top end of the range.

Source: Visible Alpha Consensus and Actuals Data. Post-Q1 baseline uses consensus as of May 3, 2026 (approximately 5 trading days after April 28, 2026 earnings). Q2 2026 Core EPS estimate decline of ~10.5% reflects seasonal shaping (Q2 is FE's weakest quarter) rather than fundamental deterioration — FY 2026 consensus is essentially flat and sits above the guidance midpoint, consistent with management's top-end-of-range targeting.

5. Stock Performance

Key Takeaway: FE has essentially flatlined since Q1 earnings (indexed ~99.5 vs. base of 100), underperforming the S&P 500 (+3.8%) but roughly in line with XLU (-1.2%). The stock's muted reaction to constructive Q1 results and the June investor presentation suggests the market is waiting for execution proof points — specifically the WV CPCN approval and data center contract announcements — before re-rating.

FE vs. XLU (Utilities ETF) vs. S&P 500 (SPY) — Indexed to 100 at Q1 2026 Earnings (Apr 28, 2026). Source: Yahoo Finance / Stock Price Data.

Performance Summary (Apr 28 – Jul 28, 2026): FE: -0.5% (from $49.58 to $49.32) | XLU: -1.2% (from $46.25 to $45.68) | SPY: +3.8% (from $711.69 to $739.09). FE initially sold off post-Q1 earnings (touching a low near $43.82 on May 15), then recovered through June and July as the data center narrative strengthened and the WV CPCN hearing timeline became clearer. The June 1 investor presentation (reaffirming guidance and outlining the $36B plan) provided a modest catalyst. The stock has been range-bound in the $47–$50 zone since mid-June, consistent with a market that is constructive but not yet willing to pay up ahead of the CPCN outcome. Sector ETF used: XLU (Utilities Select Sector SPDR Fund), appropriate for FE's regulated electric utility sub-sector.

6. Material News & Developments

Key Takeaway: The most important development since Q1 earnings is the West Virginia CPCN evidentiary hearings completing in mid-July — a regulatory approval (expected early Q4) would lift FE's rate base CAGR from ~10% to ~11% and validate the data center generation investment thesis. The June investor presentation also confirmed contracted data center demand is up 32% since Q1.

• June 1, 2026 — Updated Investor Presentation Published: FE published an updated investor presentation reaffirming FY 2026 Core EPS guidance of $2.62–$2.82 and outlining a $36B customer-focused 2026–2030 investment plan targeting ~10% rate base CAGR. Contracted data center demand confirmed up 32% since Q1 earnings. Total pipeline by 2035 disclosed at 19,125 MW.
• May 22, 2026 — Ohio Three-Year Rate Plan (TYRP) Filed: FE formally filed its Ohio TYRP proposing ~$254M Year 1 revenue increase and ~$2.5B capex through 2027–2030. Annual residential bill impacts proposed below 3%. New rates targeted for mid-2027.
• May 15, 2026 — West Virginia Base Rate Case Filed: FE filed its WV base rate case reflecting ~$1B increase in rate base since the 2023 case. Also filed an alternative Inflation & Investment Adjustment for $76M revenue in two phases (Aug 1, 2026 and Jun 1, 2027). New rates expected Q1 2027.
• July 15–16, 2026 — West Virginia CPCN Evidentiary Hearings: Hearings for the proposed 1,270 MW Maidsville Energy Center (1,200 MW CCGT + 70 MW solar, estimated $2.7B) completed. A public comment hearing was held July 15; evidentiary hearings July 16. Staff witness recommended approval with conditions; consumer advocate recommended denial but noted data center customers should bear proportionate costs if approved. Regulatory approval expected early Q4 2026; upon approval, rate base CAGR rises from ~10% to ~11%.
• May 4–5, 2026 — TD Cowen Upgrade to Buy ($53 PT): TD Cowen upgraded FE from Hold to Buy and raised its price target to $53 (from $56 prior), citing the data center pipeline acceleration and WV generation opportunity. This was the most notable post-Q1 analyst action.
• May 15, 2026 — UBS Raises PT to $51 (Neutral): UBS raised its price target on FE to $51 from $50, maintaining a Neutral rating. Analyst William Appicelli cited constructive regulatory progress but noted the stock's premium valuation relative to peers.
• June 17, 2026 — Wells Fargo Reiterates Overweight ($52 PT): Wells Fargo reiterated its Overweight rating and $52 price target, citing continued confidence in FE's transmission growth and data center optionality.
• Late March 2026 — Moody's Outlook Raised to Positive: Moody's raised its outlook on FE's senior unsecured rating to positive, citing improved credit profile and low-risk regulated T&D operations. Complements the S&P investment grade upgrade received in late 2025.
• Macro / Industry — Power Equipment Scarcity: Reuters reported (July 28, 2026) that US power companies are scrambling to secure equipment as surging data center demand strains supplies. This is a potential risk to FE's WV CCGT construction timeline, though management has stated they are on track to receive equipment delivery for a 2031 online date.
• PJM Backstop Procurement / FERC NOPR: FE management has been vocal that it will not sign contracts requiring utilities to take commodity risk on generation and energy under PJM's proposed Phase 2 backstop procurement. FERC's section 206 show cause orders (announced June 2026) are expected to create a market shift toward bilateral contracting — directionally positive for FE's preferred approach.

7. Peer Commentaries — Q2 2026 Read-Through

Key Takeaway: Peer commentary since FE's Q1 2026 earnings (April 28, 2026) is broadly positive for FE's investment thesis — data center demand acceleration, transmission CapEx expansion, and PJM bilateral contracting advocacy are consistent themes across AEP, EXC, PPL, ETR, NEE, and PCG. The two peers that have already reported Q2 2026 (NEE on July 24 and PCG on July 23) both reaffirmed guidance and highlighted continued data center pipeline growth, providing a constructive read-through for FE.

Note on peer selection: Only commentary from after FE's Q1 2026 earnings (April 28, 2026) is included below, covering Q1 2026 earnings calls (late April/early May 2026), the ETR Investor Day (June 9, 2026), and Q2 2026 earnings calls for NEE (July 24) and PCG (July 23). Prior-quarter results commentary has been excluded per the user's instruction.

NEE (NextEra Energy) — Q2 2026 Earnings (July 24, 2026) — DIRECT Q2 READ-THROUGH

Relevance to FE: NEE is the largest regulated utility and a bellwether for the sector. Its Q2 2026 results and commentary provide the most direct read-through for FE's Q2 print.

• Data center demand accelerating: NEE updated FPL's large load expectations from 6 GW to 8 GW by 2032 as part of its new four-year rate agreement. FPL currently has ~21 GW of large load interest with advanced discussions for 12 GW. NEE has 30 potential data center hubs under discussion and expects this to rise to 40 by year-end. Read-through for FE: Validates FE's WV data center pipeline growth (1.8 GW highly credible + 6 GW in dialogue) and supports the case for the Maidsville CCGT. Hyperscaler demand is real and accelerating.
• Transmission investment expanding: NEE Transmission energized a new 137-mile 345 kV line in New Mexico ahead of schedule and won MISO competitive projects (43% stake in ~$1.6B project). Transmission business expected to grow from mid-single digits into the 20s. Read-through for FE: Confirms robust competitive transmission opportunity pipeline; FE has been awarded >$5B in competitive projects over four years and is well-positioned for the 2026 PJM Open Window.
• Guidance reaffirmed: NEE reaffirmed 2026 adjusted EPS range of $3.92–$4.02, targeting the high end. Adjusted EPS of $1.15 in Q2 2026 was +9.8% YoY. Read-through for FE: Sector-wide earnings execution is on track; no macro headwinds that would impair FE's Q2 delivery.
• FERC show cause orders (June 2026) viewed positively: NEE management stated they have spent 18 months preparing for the market shift toward matching load with generation. Read-through for FE: Directionally positive for FE's bilateral contracting stance; FE has been vocal that it will not take commodity risk under PJM's backstop procurement.
• NEE-Dominion merger announced: NEE and Dominion announced a combination; merger approval filings made July 15 with state commissions and FERC. Expected to close 2H 2027. Read-through for FE: Neutral to slightly positive for FE — consolidation in the sector could reduce competitive pressure in transmission bidding and may attract investor attention to other pure-play regulated utilities like FE.

PCG (PG&E Corporation) — Q2 2026 Earnings (July 23, 2026) — DIRECT Q2 READ-THROUGH

Relevance to FE: PCG is a large regulated utility with a significant data center pipeline and a focus on customer affordability — themes directly relevant to FE's regulatory strategy.

• Data center pipeline now over 12 GW: PCG updated its pipeline to over 12 GW (from >10 GW pre-application interest in the 2026 cluster study). PCG expects ~1.8 GW to be online by 2030. Raised the threshold for inclusion in final engineering (signed work performance agreement + ~10% financial commitment). Read-through for FE: The industry is tightening pipeline qualification standards — FE's disclosure of "highly credible" projects and final contract negotiations is consistent with this trend. PCG's 1.8 GW by 2030 target mirrors FE's WV pipeline size, validating the scale of opportunity.
• Double-digit EPS growth on track for fifth consecutive year: PCG reaffirmed FY 2026 core EPS guidance of $1.64–$1.66 (midpoint +10% vs. 2025). Q2 2026 core EPS of $0.40 was in line. Read-through for FE: Sector earnings quality is holding up; no signs of macro or regulatory headwinds that would impair FE's Q2 delivery.
• Customer affordability focus — 'path to flat' targeting 0–3% annual bill growth: PCG has implemented five rate reductions in two years; residential bundled rates down 23% since January 2024 for vulnerable customers. Read-through for FE: FE's Ohio TYRP proposal (bill impacts <3% annually) and WV rate case are consistent with the sector-wide affordability imperative. FE's rates are already 20% below in-state peers, providing a structural advantage.
• $73B capital plan through 2030 (no additional equity needed): PCG's five-year financing plan is unchanged; equity needs fully satisfied through 2030. Read-through for FE: FE's more modest equity issuance plan (~1% of market cap annually) is well within sector norms; no financing risk read-through.

AEP (American Electric Power) — Q1 2026 Earnings (May 5, 2026)

Relevance to FE: AEP is FE's closest peer in PJM with significant Ohio and West Virginia overlap. AEP's data center pipeline and PJM commentary are the most directly relevant read-throughs for FE.

• Contracted load surged to 63 GW (from 56 GW last quarter): AEP contracted an additional 7 GW in Q1 2026, primarily from AEP Texas and AEP Ohio. Nearly 90% are data centers. A 10 GW data center campus with SB Energy announced in Piketon, Ohio; a multibillion-dollar Google data center in Putnam County, West Virginia is under evaluation. Read-through for FE: West Virginia data center demand is real and accelerating — Google's interest in Putnam County, WV directly validates FE's WV pipeline growth. AEP's Ohio data center momentum also supports FE's Ohio distribution investment thesis.
• 5-year CapEx plan raised to $78B (from $72B): Includes $3.5B of recently approved PJM and SPP transmission investments and $2.5B for I&M gas-fired generation. Transmission now 42% of the total plan. Long-term EPS CAGR raised to >9%. Read-through for FE: Confirms the sector-wide CapEx acceleration driven by data centers and transmission; FE's $36B 2026–2030 plan and ~10% rate base CAGR are consistent with peer trajectories.
• PJM market structure concerns escalating: AEP CEO stated the current PJM stakeholder process "does not give me great confidence" issues will be resolved soon and is assessing all options including reviewing PJM membership. Read-through for FE: FE has been equally vocal — management stated it will not sign contracts requiring commodity risk. The bilateral contracting push is gaining industry momentum, which is FE's preferred outcome.
• Ohio ROE improved to 9.84% (from 9.7%): AEP secured commission approval of Ohio distribution base case settlement with a rate decrease for customers. Read-through for FE: Constructive Ohio regulatory environment supports FE's TYRP filing; AEP's settlement precedent (rate decrease + ROE improvement) is a positive signal for FE's Ohio rate case outcome.
• West Virginia ROE raised to 9.75% (from 9.25%): AEP received a favorable reconsideration order in WV. Read-through for FE: Directly positive for FE's WV base rate case and CPCN proceedings — the WV PSC has demonstrated willingness to award constructive ROEs.

EXC (Exelon) — Q1 2026 Earnings (May 6, 2026)

Relevance to FE: EXC is FE's most direct PJM peer (overlapping service territories in Pennsylvania and the Mid-Atlantic). EXC's transmission strategy and Pennsylvania regulatory commentary are highly relevant.

• Transmission rate base growing at 16% through 2029: EXC revised its 4-year capital plan to include $1.5B of incremental transmission investment, with data center customers backing pipeline with FERC-approved transmission security agreements (~$1B of collateral secured). Read-through for FE: Validates FE's transmission-heavy growth strategy; 16% transmission rate base CAGR at EXC is consistent with FE's formula-rate transmission growth narrative.
• PECO rate case withdrawn — Pennsylvania affordability pressure: EXC withdrew its recently filed PECO electric and gas rate cases, citing customer affordability and stakeholder feedback. Pennsylvania Governor's letter focused on affordability, cost-effective capital, and "justifiable returns." EXC noted getting anything done in Pennsylvania in an election year with divided government is a "long shot." Read-through for FE: FE has Pennsylvania distribution exposure (FirstEnergy Pennsylvania / PENELEC). The political environment in Pennsylvania is challenging for rate increases, but FE's rates are already 20% below in-state peers and its PA infrastructure investment program is being recovered through the distribution system improvement charge (DSIC) — reducing rate case dependency.
• Q2 2026 guidance: ~15% of full-year midpoint: EXC guided Q2 2026 earnings to be approximately 15% of the midpoint of its $2.81–$2.91 full-year guidance range, implying ~$0.43 per share. Combined with Q1, this puts 47% of full-year earnings in H1, consistent with seasonal shaping. Read-through for FE: Confirms the sector-wide pattern of back-half earnings weighting — directly supports FE's guidance that "most remaining earnings growth will materialize in H2."
• PJM supply shortage escalating: EXC stated customers paid $32B to generators for capacity in PJM over two years while supply declined by 1.2 GW. PJM has warned about 2028 reliability risk since 2024 with "no meaningful progress on new supply." Read-through for FE: Reinforces the urgency of FE's WV CCGT project and the data center generation investment thesis. The supply shortage is a tailwind for FE's generation investment strategy.

PPL Corporation — Q1 2026 Earnings (May 8, 2026)

Relevance to FE: PPL has significant Pennsylvania overlap with FE and is pursuing a similar data center + transmission growth strategy. PPL's Pennsylvania rate case settlement and PJM commentary are directly relevant.

• Pennsylvania data center pipeline at 28.3 GW (up 12% from year-end): PPL Electric's advanced-stage pipeline grew to 28.3 GW; ~10 GW have signed ESAs; 5 GW already under construction. PPL highlighted a competitive advantage in transmission — connecting a GW-scale load costs <$150M total. Read-through for FE: Pennsylvania data center demand is robust and accelerating. FE's PA distribution system is positioned to benefit from the same demand wave, supporting the case for continued PA infrastructure investment.
• Pennsylvania rate case settlement approved (ALJ recommendation April 17): PPL Electric reached a constructive settlement with most intervenors; bill increases <4% across all customer classes despite 10+ years since last filing. New rates expected effective July 1, 2026. Read-through for FE: Constructive Pennsylvania regulatory precedent; FE's PA rates are already low (35% below in-state peers on T&D component), suggesting FE has room to file a rate case when needed without triggering political backlash.
• PJM bilateral contracting support: PPL supports PJM's conceptual process for bilateral contracting but noted significant work is needed to ensure backstop auction costs are borne by large loads, not shifted to other customers. PPL's Blackstone JV is gaining momentum for dedicated generation solutions. Read-through for FE: FE's firm stance against taking commodity risk is consistent with PPL's position. The bilateral contracting framework is gaining industry consensus.
• 6–8% EPS CAGR reaffirmed, targeting top end: PPL reaffirmed 2026 ongoing EPS guidance of $1.90–$1.98 and long-term 6–8% EPS CAGR through 2029, targeting near the top end. Read-through for FE: FE's identical 6–8% CAGR target (also targeting top end) is consistent with peer positioning; no read-through risk to FE's growth algorithm.

ETR (Entergy) — Investor Day (June 9, 2026)

Relevance to FE: ETR's Investor Day provided the most comprehensive industry update on data center demand, generation investment, and regulatory strategy since FE's Q1 earnings. ETR's service territory (Gulf Coast) is different from FE's, but the macro themes are directly relevant.

• ESA backlog nearly doubled in two years; 7–12 GW data center + 3–5 GW industrial in 24-month outlook: ETR's total retail sales expected to increase >50% over five years. Meta's 5 GW project in Louisiana ($50B investment) and AWS expansions highlight the scale of hyperscaler demand. Read-through for FE: Hyperscaler demand is real, large-scale, and accelerating across multiple geographies. FE's WV pipeline (1.8 GW highly credible + 6 GW in dialogue) is consistent with the national trend.
• 5-year CapEx plan doubled to $67B; 16% rate base CAGR through 2030 ("highest in the industry"): ETR has secured 24 GW of dispatchable generation and added 6 turbines in the last six months. Plans for 30 GW of new/repowered resources over 10 years. Read-through for FE: Turbine scarcity is a real risk (Reuters July 28 article confirms equipment scramble). FE management has stated they are on track for 2031 delivery, but this is worth monitoring on the Q2 call.
• "Fair share plus pledge" — data centers cover incremental costs + share of fixed costs: ETR's contracting strategy requires 15–20-year contract lengths, significant minimum bills, and credit provisions. Estimated $7B in savings for existing customers over contract lives. Read-through for FE: FE's approach to data center contracting (requiring customers to pay their fair share) is consistent with the emerging industry standard. This reduces regulatory risk from existing customer cross-subsidization concerns.
• >8% EPS CAGR through 2030 ("highest adjusted EPS growth rate in the industry"): ETR projects double-digit underlying growth rate with 9% retail sales growth. Read-through for FE: FE's 6–8% CAGR (targeting top end) is conservative relative to ETR's >8% target, suggesting FE's guidance may have upside if data center contracts materialize as expected.

Peer Commentary Summary Table

8. Insider Transaction Activity

Key Takeaway: No open-market buys or discretionary sells since Q1 earnings. The only Form 4 activity consists of routine director phantom stock unit awards (July 1, 2026) and a single CEO tax-withholding share disposition (June 1, 2026). Nothing notable — no clustered buys, no unusual sale size, no insider signal either way.

Source: Insider Transaction Data (SEC Form 4 filings). No open-market buys (Code P) or open-market sells (Code S) were filed in the period from April 28, 2026 through July 28, 2026. The CEO's June 1 disposition (Code F) is a tax-withholding transaction on vesting — an obligation-driven event, not a discretionary sale signal. The July 1 director awards are routine quarterly compensation grants. There is no insider signal — positive or negative — heading into Q2 2026 earnings.

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Disclosures & Data Sources

• Visible Alpha Consensus and Actuals Data — All KPI consensus estimates and actuals (Core EPS, Total Revenue, Regulated Transmission Revenue, Regulated Distribution Revenue, Property Additions, Operating EBITDA). Consensus as of July 28, 2026; post-Q1 baseline as of May 3, 2026.
• Stock Price Data (Yahoo Finance) — Daily closing prices for FE, XLU, and SPY from April 28, 2026 through July 28, 2026.
• Insider Transaction Data (SEC Form 4) — Form 4 filings for FE from April 28, 2026 through July 28, 2026.
• Company Filings & Transcripts — FE Q1 2026 Earnings Call (April 28–29, 2026); FE Q1 2026 8-K and Earnings Release; FE June 1, 2026 Investor Presentation; FE July 2, 2026 Q2 Earnings Webcast Announcement.
• Peer Transcripts — AEP Q1 2026 Earnings Call (May 5, 2026); EXC Q1 2026 Earnings Call (May 6, 2026); PPL Q1 2026 Earnings Call (May 8, 2026); ETR Investor Day (June 9, 2026); NEE Q2 2026 Earnings Call (July 24, 2026); PCG Q2 2026 Earnings Call (July 23, 2026).
• Internet Research — MarketBeat analyst ratings; Reuters (July 28, 2026 equipment scarcity article); West Virginia PSC hearing coverage.