Core Insights - American Electric Power (AEP) reported third-quarter 2025 GAAP earnings of $972 million or $1.82 per share, an increase from $960 million or $1.80 per share in the same quarter of 2024 [1] - Operating earnings for the same period were $963 million or $1.80 per share, down from $985 million or $1.85 per share in third-quarter 2024 [1] - AEP reaffirmed its 2025 operating earnings guidance range of $5.75 to $5.95 per share, expecting results to be in the upper half of this range [1][9] Financial Performance - AEP's revenue for the third quarter of 2025 was $6,010.4 million, up from $5,420.1 million in the same quarter of 2024, reflecting a change of $590.3 million or 10.9% [8] - Year-to-date revenue increased from $15,025.0 million in 2024 to $16,560.7 million in 2025, a change of $1,535.7 million or 10.2% [8] - Year-to-date GAAP earnings rose from $2,303.0 million in 2024 to $2,998.0 million in 2025, an increase of $695.0 million or 30.2% [8] Growth Strategy - AEP announced a new long-term operating earnings growth rate of 7-9% over the next five years, supported by a $72 billion capital plan [2] - The capital plan is expected to drive a 10% annual growth in rate base, with operating earnings per share anticipated to increase at a 9% compounded annual growth rate over the five-year period [2] - AEP's peak system demand is projected to rise to 65 GW by 2030, up from the current peak of 37 GW, necessitating a $30 billion investment in transmission assets [4] Infrastructure Investments - AEP's capital plan includes over $20 billion in generation resources to meet customer demands in fast-growing regions, with $17 billion dedicated to enhancing the distribution network [5] - The company is confident in securing 28 GW of load additions by 2030, supported by Electric Service Agreements and an additional 190 GW of load requests at various development stages [3] Customer Commitment and Regulatory Engagement - AEP is implementing new tariff structures requiring large power demand customers to make financial commitments based on load forecasts, ensuring fair cost allocation [7] - The company emphasizes listening to regulators and policymakers to improve regulatory outcomes and develop solutions for customer needs [7]