M&A - FirstEnergy Transmission, LLC

Form Type: 10-Q

Filing Date: 2025-05-07

Corporate Action: Acquisition

Type: Update

Accession Number: 000203811825000013

Filing Summary: FirstEnergy Transmission, LLC's report for the quarter ended March 31, 2025, indicates significant financial activity. The company reported total revenues of $468 million, up from $418 million in the prior year. Operating income saw an increase to $216 million from $199 million, while net income rose to $128 million compared to $90 million in the same period last year. The balance sheets reveal total assets amounting to $12.69 billion, reflecting a modest increase from $12.57 billion since the end of the previous year. Notably, the report also highlights an incremental 30% equity interest in FET acquired by Brookfield, raising its ownership from 19.9% to 49.9%. The company continues to focus on its operational strategy and regulatory compliance especially within the FERC jurisdiction, noting recent adjustments to its corporate structure.