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AKRON, Ohio - FirstEnergy Corp. (NYSE:FE), a utility company with a market capitalization of $23.84 billion and currently trading near $41.28, announced Tuesday the appointment of Christopher Lopez as Vice President of Labor Relations, effective July 28. According to InvestingPro data, the company has demonstrated stable performance with 8% revenue growth over the last twelve months.
Lopez brings more than 30 years of experience in labor and employment law to the role and will report to Karen McClendon, FirstEnergy Senior Vice President and Chief Human Resources Officer. This appointment comes as FirstEnergy maintains its position as a significant player in the utility sector, with InvestingPro analysis showing the company has maintained dividend payments for 28 consecutive years, currently offering a 4.33% yield.
In his new position, Lopez will lead the company’s labor relations strategy, oversee collective bargaining negotiations, manage union leadership relationships, and support workforce planning initiatives.
Most recently, Lopez served as Associate General Counsel and Labor & Employee Relations Consultant for BlueOval SK, a joint venture between Ford Motor Company and SK On, where he helped establish legal and HR operations for electric vehicle battery manufacturing facilities.
His previous experience includes leading the Litigation and Labor/Employment Law group at NiSource Inc. and holding labor relations leadership roles at Greif, Pactiv Corporation and OEA/NEA Inc.
"Chris is a trusted advisor and strategic partner with a track record of leading through change and cultivating strong, collaborative relationships with labor partners," said McClendon in the company’s press release.
Lopez holds a bachelor’s degree in political science and government from Bowling Green State University and a Juris Doctor from the University of Toledo College of Law.
FirstEnergy operates electric distribution companies serving more than six million customers across six states and maintains approximately 24,000 miles of transmission lines connecting the Midwest and Mid-Atlantic regions. The company’s financial health is rated as FAIR by InvestingPro, which offers comprehensive analysis and additional insights through its Pro Research Report, available for over 1,400 US stocks including FirstEnergy.
In other recent news, FirstEnergy Corp. has been active with several significant developments. The company announced a private placement offering of convertible senior notes valued at $2.15 billion, with an option for an additional $350 million. The proceeds, estimated at $2.13 billion, are intended for various corporate purposes, including repurchasing existing convertible notes and refinancing debt. Additionally, FirstEnergy revealed plans for another $1.8 billion convertible notes offering, with the funds aimed at similar financial strategies.
On the analyst front, Jefferies raised its price target for FirstEnergy to $43, citing an improving risk-reward profile. Meanwhile, BofA Securities lowered its price target to $44 due to uncertainties surrounding the Ohio rate case. In leadership news, FirstEnergy appointed Karen Kinslow as Vice President of Pennsylvania Operations, where she will oversee electricity delivery to over two million customers. These developments reflect the company’s strategic financial maneuvers and ongoing regulatory considerations.
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