American Electric Power (AEP) came out with quarterly earnings of $1.85 per share, beating the Zacks Consensus Estimate of $1.78 per share. This compares to earnings of $1.77 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 3.93%. A quarter ago, it was expected that this utility would post earnings of $1.23 per share when it actually produced earnings of $1.25, delivering a surprise of 1.63%.Over the last four quarters, the com ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For The Quarterly Period Ended September 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For The Transition Period from ____ to ____ | --- | --- | --- | --- | |--------------------------|---------------------------------------------|-------------------------|-------------------------- ...

[Executive Summary & Key Announcements](index=1&type=section&id=Executive%20Summary%20%26%20Key%20Announcements) [Third-Quarter 2024 Financial Highlights](index=1&type=section&id=Third-Quarter%202024%20Financial%20Highlights) American Electric Power (AEP) reported third-quarter 2024 GAAP earnings of $1.80 per share and operating earnings of $1.85 per share, showing a slight decrease in GAAP EPS but an increase in operating EPS compared to the prior year | Metric | Q3 2024 | Q3 2023 | Change | | :--------------------- | :------ | :------ | :----- | | GAAP Earnings ($M) | 959.6 | 953.7 | 5.9 | | Operating Earnings ($M)| 985.4 | 923.8 | 61.6 | | GAAP EPS ($) | 1.80 | 1.83 | (0.03) | | Operating EPS ($) | 1.85 | 1.77 | 0.08 | [2024 Earnings Guidance Update](index=1&type=section&id=2024%20Earnings%20Guidance%20Update) AEP narrowed its 2024 operating earnings guidance range, maintaining its midpoint, reflecting confidence in its year-to-date progress | Metric | 2024 Guidance Range | | :-------------------------- | :------------------ | | Operating EPS (non-GAAP) | $5.58 to $5.68 | | Midpoint | $5.63 | [New Long-Term Growth Rate and Capital Plan](index=1&type=section&id=New%20Long-Term%20Growth%20Rate%20and%20Capital%20Plan) The company announced a new long-term operating earnings growth rate of 6% to 8% and expanded its five-year capital plan to $54 billion to support reliability and demand growth - New long-term growth rate: **6% to 8%** based off of 2025 operating earnings guidance of **$5.75 to $5.95 per share**[1](index=1&type=chunk)[5](index=5&type=chunk) - Expanded five-year capital plan: **$54 billion** to support reliability and demand growth[1](index=1&type=chunk)[5](index=5&type=chunk) [CEO Commentary and Strategic Focus](index=2&type=section&id=CEO%20Commentary%20and%20Strategic%20Focus) CEO Bill Fehrman highlighted continued investments, operational excellence, and financial discipline as drivers for results. He emphasized robust growth in regulated businesses, unprecedented load growth, and recent corporate restructuring to streamline operations and improve performance - Results driven by continued investments to improve service and enhance the energy system[4](index=4&type=chunk) - Commitment to best-in-class service, operational excellence, and financial discipline[5](index=5&type=chunk) - Commercial load increased over **10%** year-over-year through Q3, with an expected average annual growth of **20%** over the next three years based on signed customer contracts[7](index=7&type=chunk) - Implemented leadership and alignment changes to streamline corporate structure and move decision-making closer to customers[9](index=9&type=chunk) [Detailed Financial Performance](index=1&type=section&id=Detailed%20Financial%20Performance) [Consolidated Financial Results (GAAP & Operating)](index=1&type=section&id=Consolidated%20Financial%20Results%20%28GAAP%20%26%20Operating%29) AEP's consolidated revenue saw a slight increase in Q3 2024 and a more significant rise year-to-date. Operating earnings showed stronger growth than GAAP earnings for both periods | Metric ($ in billions) | Q3 2024 | Q3 2023 | Change | YTD 2024 | YTD 2023 | Change | | :--------------------- | :------ | :------ | :----- | :------- | :------- | :----- | | Revenue | 5.4 | 5.3 | 0.1 | 15.0 | 14.4 | 0.6 | | GAAP Earnings ($M) | 959.6 | 953.7 | 5.9 | 2,303.0 | 1,871.9 | 431.1 | | Operating Earnings ($M)| 985.4 | 923.8 | 61.6 | 2,317.8 | 2,077.6 | 240.2 | [Segment-wise Earnings Performance](index=3&type=section&id=Segment-wise%20Earnings%20Performance) The Vertically Integrated Utilities, Transmission & Distribution Utilities, and AEP Transmission Holdco segments demonstrated positive earnings growth in both GAAP and operating measures for Q3 and YTD 2024, while Generation & Marketing showed mixed results [Vertically Integrated Utilities](index=3&type=section&id=Vertically%20Integrated%20Utilities) This segment reported strong growth in both GAAP and operating earnings for Q3 and YTD 2024, contributing significantly to overall company performance | Metric ($ in millions) | Q3 2024 | Q3 2023 | Change | YTD 2024 | YTD 2023 | Change | | :--------------------- | :------ | :------ | :----- | :------- | :------- | :----- | | GAAP Earnings | 571.5 | 512.5 | 59.0 | 1,198.0 | 1,051.6 | 146.4 | | Operating Earnings | 572.4 | 520.0 | 52.4 | 1,117.5 | 1,045.6 | 71.9 | [Transmission & Distribution Utilities](index=3&type=section&id=Transmission%20%26%20Distribution%20Utilities) The Transmission & Distribution Utilities segment also showed healthy increases in both GAAP and operating earnings for Q3 and YTD 2024 | Metric ($ in millions) | Q3 2024 | Q3 2023 | Change | YTD 2024 | YTD 2023 | Change | | :--------------------- | :------ | :------ | :----- | :------- | :------- | :----- | | GAAP Earnings | 245.2 | 206.0 | 39.2 | 542.3 | 508.4 | 33.9 | | Operating Earnings | 245.2 | 206.0 | 39.2 | 610.8 | 488.2 | 122.6 | [AEP Transmission Holdco](index=3&type=section&id=AEP%20Transmission%20Holdco) AEP Transmission Holdco reported consistent growth in both GAAP and operating earnings for the third quarter and year-to-date periods | Metric ($ in millions) | Q3 2024 | Q3 2023 | Change | YTD 2024 | YTD 2023 | Change | | :--------------------- | :------ | :------ | :----- | :------- | :------- | :----- | | GAAP Earnings | 214.7 | 202.9 | 11.8 | 624.1 | 580.8 | 43.3 | | Operating Earnings | 214.7 | 202.9 | 11.8 | 632.3 | 580.9 | 51.4 | [Generation & Marketing](index=3&type=section&id=Generation%20%26%20Marketing) The Generation & Marketing segment experienced a GAAP earnings decline in Q3 2024 but a significant GAAP earnings increase year-to-date. Operating earnings showed modest growth for both periods | Metric ($ in millions) | Q3 2024 | Q3 2023 | Change | YTD 2024 | YTD 2023 | Change | | :--------------------- | :------ | :------ | :----- | :------- | :------- | :----- | | GAAP Earnings | 93.3 | 130.7 | (37.4) | 226.1 | (59.3) | 285.4 | | Operating Earnings | 99.2 | 92.8 | 6.4 | 225.6 | 204.1 | 21.5 | [All Other](index=3&type=section&id=All%20Other) The 'All Other' category reported increased losses in both GAAP and operating earnings for Q3 and YTD 2024 | Metric ($ in millions) | Q3 2024 | Q3 2023 | Change | YTD 2024 | YTD 2023 | Change | | :--------------------- | :------ | :------ | :----- | :------- | :------- | :----- | | GAAP Earnings (Loss) | (165.1) | (98.4) | (66.7) | (287.5) | (209.6) | (77.9) | | Operating Earnings (Loss)| (146.1) | (97.9) | (48.2) | (268.4) | (241.2) | (27.2) | [Reconciliation of GAAP to Operating Earnings](index=7&type=section&id=Reconciliation%20of%20GAAP%20to%20Operating%20Earnings) AEP provides detailed reconciliations from GAAP earnings to operating earnings, adjusting for special items such as mark-to-market impacts, regulatory liabilities, disallowances, and severance charges, to offer a clearer view of ongoing business performance [Q3 2024 Reconciliation](index=7&type=section&id=Q3%202024%20Reconciliation) For Q3 2024, key adjustments from GAAP to operating earnings included mark-to-market impacts of commodity hedging activities and an SEC matter loss contingency | Special Item (Q3 2024) | Impact ($M) | Impact (EPS) | | :------------------------------------- | :---------- | :----------- | | Mark-to-Market Impact of Commodity Hedging Activities | 6.8 | 0.01 | | SEC Matter Loss Contingency | 19.0 | 0.04 | | Total Special Items | 25.8 | 0.05 | [Year-to-Date 2024 Reconciliation](index=9&type=section&id=Year-to-Date%202024%20Reconciliation) Year-to-date 2024 reconciliation involved several significant adjustments, including mark-to-market impacts, remeasurement of excess ADIT regulatory liability, impact of NOLC on retail rate making, and provisions related to power stations and regulatory rules | Special Item (YTD 2024) | Impact ($M) | Impact (EPS) | | :------------------------------------- | :---------- | :----------- | | Mark-to-Market Impact of Commodity Hedging Activities | (52.2) | (0.09) | | Remeasurement of Excess ADIT Regulatory Liability | (44.6) | (0.09) | | Impact of NOLC on Retail Rate Making | (259.6) | (0.50) | | Disallowance - Dolet Hills Power Station | 11.1 | 0.02 | | Provision for Refund - Turk Plant | 126.4 | 0.24 | | Sale of AEP OnSite Partners | 10.4 | 0.02 | | Severance Charges | 93.6 | 0.18 | | Federal EPA Coal Combustion Residuals Rule | 110.7 | 0.21 | | SEC Matter Loss Contingency | 19.0 | 0.04 | | Total Special Items | 14.8 | 0.03 | [Sales Data and Load Growth](index=8&type=section&id=Sales%20Data%20and%20Load%20Growth) [Third-Quarter 2024 Regulated Connected Load](index=8&type=section&id=Third-Quarter%202024%20Regulated%20Connected%20Load) In Q3 2024, Vertically Integrated Utilities saw a slight increase in total retail electric sales, driven by commercial growth, while Transmission & Distribution Utilities experienced stronger overall retail growth, particularly in the commercial sector Vertically Integrated Utilities - Retail Electric Sales (in millions of kWh) | Category | Q3 2024 | Q3 2023 | Change | | :---------- | :------ | :------ | :----- | | Residential | 8,959 | 8,975 | (0.2)% | | Commercial | 6,910 | 6,686 | 3.4% | | Industrial | 8,562 | 8,731 | (1.9)% | | Total Retail| 25,043 | 25,010 | 0.1% | Transmission & Distribution Utilities - Retail Electric Sales (in millions of kWh) | Category | Q3 2024 | Q3 2023 | Change | | :---------- | :------ | :------ | :----- | | Residential | 8,206 | 8,442 | (2.8)% | | Commercial | 9,671 | 8,574 | 12.8% | | Industrial | 6,725 | 6,601 | 1.9% | | Total Retail| 24,815 | 23,837 | 4.1% | [Year-to-Date 2024 Regulated Connected Load](index=11&type=section&id=Year-to-Date%202024%20Regulated%20Connected%20Load) For the nine months ended September 30, 2024, both Vertically Integrated Utilities and Transmission & Distribution Utilities reported positive growth in total retail electric sales, with commercial load being a significant driver, especially for T&D Utilities Vertically Integrated Utilities - Retail Electric Sales (in millions of kWh) | Category | YTD 2024 | YTD 2023 | Change | | :---------- | :------- | :------- | :----- | | Residential | 24,191 | 23,406 | 3.4% | | Commercial | 18,763 | 17,781 | 5.5% | | Industrial | 25,563 | 25,686 | (0.5)% | | Total Retail| 70,235 | 68,557 | 2.4% | Transmission & Distribution Utilities - Retail Electric Sales (in millions of kWh) | Category | YTD 2024 | YTD 2023 | Change | | :---------- | :------- | :------- | :----- | | Residential | 21,079 | 20,618 | 2.2% | | Commercial | 26,871 | 22,711 | 18.3% | | Industrial | 20,363 | 19,800 | 2.8% | | Total Retail| 68,886 | 63,694 | 8.2% | [Corporate Information](index=4&type=section&id=Corporate%20Information) [About AEP](index=4&type=section&id=About%20AEP) American Electric Power (AEP) is a major utility committed to providing reliable, affordable power, investing $54 billion from 2025-2029 to enhance service. It operates the nation's largest electric transmission system, serving 5.6 million customers across 11 states with approximately 29,000 megawatts of diverse generating capacity - Investing **$54 billion** from 2025 through 2029 to enhance service and support growing energy needs[19](index=19&type=chunk) - Operates the nation's largest electric transmission system with **40,000 line miles** and over **225,000 miles** of distribution lines[19](index=19&type=chunk) - Delivers energy to **5.6 million customers** in 11 states[19](index=19&type=chunk) - One of the nation's largest electricity producers with approximately **29,000 megawatts** of diverse generating capacity[19](index=19&type=chunk) [Forward-Looking Statements](index=5&type=section&id=Forward-Looking%20Statements) This section serves as a cautionary statement, indicating that the report contains forward-looking statements whose actual outcomes may differ materially due to various factors. These factors include changes in economic conditions, market demand, financial market volatility, regulatory changes, extreme weather, fuel costs, and technological advancements - Actual outcomes and results may be materially different from projections due to factors such as economic conditions, electric market demand, and demographic patterns[21](index=21&type=chunk) - Risks include volatility and disruptions in financial markets, availability and cost of funds, shifting demand for electricity, and impact of extreme weather conditions[21](index=21&type=chunk) - Other factors include new legislation and government regulation, timing and resolution of regulatory decisions, changes in technology, and cyber security threats[21](index=21&type=chunk)[23](index=23&type=chunk)

Third-quarter 2024 GAAP earnings of $1.80 per share; operating earnings of $1.85 per share Narrows 2024 operating earnings (non-GAAP) guidance to $5.58 to $5.68 per share, maintaining $5.63 midpoint Announces new long-term growth rate of 6% to 8% based off of 2025 operating earnings guidance of $5.75 to $5.95 per share Expands five-year capital plan to $54 billion to support reliability and demand growth AMERICAN ELECTRIC POWER Preliminary, unaudited results Third Quarter ended September 30 ...

American Electric Power Company, Inc. AEP will release earnings results for its third quarter, before the opening bell on Wednesday, Nov. 6.Analysts expect the Columbus, Ohio-based company to report quarterly earnings at $1.8 per share, up from $1.77 per share in the year-ago period. American Electric Power projects to report revenue of $5.43 billion for the quarter, compared to $5.37 billion a year earlier, according to data from Benzinga Pro.On Oct. 24, American Electric Power named Matthew Fransen senior ...

Core Viewpoint - American Electric Power Company, Inc (AEP) is expected to report its third-quarter 2024 results on November 6, with a consensus estimate for revenues at $5.39 billion, indicating a 1.8% year-over-year growth, and earnings per share estimated at $1.78, reflecting a 0.6% increase from the previous year [1][5][6]. Factors Influencing AEP's Q3 Earnings - Warmer-than-normal weather conditions in AEP's service territories likely increased electricity demand for cooling, contributing positively to revenue [2]. - Favorable rate revisions, solid transmission revenues, and increased customer volumes are expected to have further supported AEP's quarterly performance [3]. - Adverse weather events, including heavy rainfall, flooding, tornadoes, Hurricane Beryl, and windstorm Derecho, may have disrupted services and caused outages, potentially impacting overall revenues [4]. Financial Expectations - The Zacks Consensus Estimate for AEP's third-quarter revenues is $5.39 billion, suggesting a 1.8% growth from the prior year [5]. - Higher interest and depreciation expenses may negatively affect the company's bottom line, but benefits from previous investments and higher normalized retail sales could enhance overall earnings [5]. - The sale of AEP OnSite Partners is anticipated to have been completed in Q3 2024, with net proceeds of approximately $315 million likely added to AEP's cash balance [6]. Earnings Prediction - AEP has an Earnings ESP of +0.94%, indicating a favorable outlook for an earnings beat [7]. - Currently, AEP holds a Zacks Rank of 3, suggesting a neutral outlook [8].

In its upcoming report, American Electric Power (AEP) is predicted by Wall Street analysts to post quarterly earnings of $1.78 per share, reflecting an increase of 0.6% compared to the same period last year. Revenues are forecasted to be $5.39 billion, representing a year-over-year increase of 1.8%.The consensus EPS estimate for the quarter has been revised 1.6% higher over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial es ...

Let me be the first to wish you all a Happy and spooky Halloween. What isn't spooky, though, is the dividend increase this week. In fact, treat yourself to some sweets with several of these increases. This week's companies have an averageDerek is an individual investor seeking to navigate the investment world to provide a wealthy and stable retirement for his family. He aims to help fellow investors, notably younger investors, establish a plan to produce a growing income stream. Derek holds a Bachelor's deg ...

Leadership and Organizational Changes - The company is initiating a search for a newly created president role to lead the AEP Transmission business, which is a key growth area as the company invests in enhancing reliability and meeting customer needs [1][2] - The executive vice president of Regulatory and chief administrative officer role is being eliminated, resulting in the departure of Peggy Simmons [2] - Chris Beam, executive vice president of Energy Services, plans to retire in February 2025 and will serve as executive vice president and senior advisor until then [2] - Shane Lies, executive vice president and chief nuclear officer, will transition to a new role as executive vice president of Projects and Services, overseeing various functions including generation shared services and strategic supplier management [2] - Kelly Ferneau, site vice president at AEP's Donald C Cook Nuclear Plant, has been promoted to executive vice president and chief nuclear officer, succeeding Shane Lies [2] - Scott Dailey, managing director of renewable generation, will succeed Kelly Ferneau as site vice president at the Cook Nuclear Plant [2] - Power plant managers will now report to the operating company presidents, and the economic development function will transition to the operating companies [2] - Corporate regulatory services and procurement will be aligned under the chief financial officer [2] Strategic Goals and Investments - The company is investing $43 billion over the next five years to make the electric grid cleaner and more reliable [3] - AEP is on track to achieve an 80% reduction in carbon dioxide emissions from 2005 levels by 2030 and aims to reach net zero by 2045 [3] Company Overview - AEP operates and maintains more than 40,000 miles of transmission lines, the nation's largest electric transmission system, and over 225,000 miles of distribution lines, delivering power to 5.6 million customers in 11 states [3] - The company has approximately 29,000 megawatts of diverse generating capacity, including nearly 6,000 megawatts of renewable energy [3] - AEP's family of companies includes utilities such as AEP Ohio, AEP Texas, Appalachian Power, and others, as well as AEP Energy, which provides competitive energy solutions nationwide [3]

American Electric Power Company, Inc. (AEP) is deploying systematic investments in infrastructural upgrades to enhance the reliability of its operations and serve its utility customers efficiently. The company is also making consistent investments to boost its renewable generation portfolio.However, this Zacks Rank #2 (Buy) company faces risks related to a weak solvency position.AEP’s Tailwinds American Electric has a capital investment plan of $43 billion for the 2024-2028 period in its core regulated oper ...