Financial Data and Key Metrics Changes - American Electric Power reported third quarter 2025 operating earnings of $1.80 per share, a decrease from $1.85 per share in the same period last year, primarily due to the prior year's sale of the onsite partners' distributed resources business [24][25] - Year-to-date operating earnings totaled $4.78 per share, up from $4.38 per share in 2024, representing a 9% year-over-year increase [25][26] - The company reaffirmed its 2025 full-year operating earnings range of $5.75-$5.95 per share, guiding to the upper half of this range, and introduced a 2026 operating earnings guidance range of $6.15-$6.45 per share, reflecting an approximate 8% increase [9][26] Business Line Data and Key Metrics Changes - Significant commercial and industrial load growth of nearly 8% on a rolling 12-month basis as of September 30, 2025, was noted, driven by favorable rate changes and strong transmission investment execution [25][26] - The company has secured 28 GW of contracted load additions, up from the previously reported 24 GW, which are backed by energy service agreements or letters of agreement [10][11] Market Data and Key Metrics Changes - AEP projects a system peak demand of 65 GW by 2030, with a load growth of almost 76% in the next five years, particularly in Indiana, Ohio, Oklahoma, and Texas [10][11] - The company highlighted that large annual capital budgets from hyperscalers reinforce the conviction of demand growth, with significant contributions from data centers and reshoring of manufacturing [9][10] Company Strategy and Development Direction - AEP announced a new long-term operating earnings growth rate of 7%-9% for 2026-2030, with an expected 9% CAGR over the five-year period, supported by a $72 billion capital plan [7][8] - The company is focused on operational excellence and engaging with regulators to achieve constructive outcomes that benefit both customers and shareholders [15][16] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's strategy and team, emphasizing the importance of affordability and financial strength while executing the capital plan [20][35] - The management team is actively working with legislators and policymakers to reduce regulatory lag and improve forecasted regulated ROEs to 9.5% by 2030 [15][16] Other Important Information - AEP's capital plan includes over $7 billion for renewable energy deployment, reflecting the company's commitment to balancing customer demands for both gas and renewables [75] - The company has secured significant agreements for turbines and high-voltage transmission equipment, positioning itself well for future growth [54] Q&A Session Summary Question: Earnings step up and Ohio rate case filing - Trevor explained that earnings growth is driven by the capital plan, with significant CapEx deployed in 2027 and 2028, and positive legislative outcomes will manifest during this period [39][40] Question: Composition of equity needs - Trevor noted that the company anticipates 30%-40% equity for the capital plan, with proactive measures already taken to address growth equity needs [42][43] Question: Earnings growth in 2028-2030 - Trevor indicated that the company expects to be at or above the high end of the growth rate in 2028, 2029, and 2030, with a flat growth assumption during those years [50][51] Question: Data center load growth and transmission capacity - Bill highlighted that 80% of the incremental load growth is tied to data centers, and the company is well-positioned to connect these customers efficiently [71][73] Question: Balance between renewables and gas - Bill stated that the company is focused on aligning generation planning with state energy policies, with a significant capital plan for renewables [75] Question: Future growth beyond 2030 - Trevor expressed confidence in the potential for continued load growth beyond 2030, emphasizing the importance of signed contracts and ongoing discussions [85][86]

American Electric Power (NasdaqGS:AEP) Q3 2025 Earnings Call October 29, 2025 09:00 AM ET Speaker5Ladies and gentlemen, thank you for standing by. My name is Colby, and I'll be your conference operator today. At this time, I would like to welcome you to the American Electric Power Third Quarter 2025 earnings call. All lines have been placed on mute to prevent any background noise, and after the speaker's remarks, there will be a question and answer session. If you'd like to ask a question at that time, plea ...

Financial Performance - Consolidated earnings were $1.14 per average diluted share in Q3 2025[4, 10] - Electric company earnings were $1.20 per average diluted share in Q3 2025[4, 10] - Other operations, including holding company, experienced a loss of $0.06[4, 10] - The company expects to be in the top half of the original 2025 EPS guidance range[4, 10] Operational Highlights - A settlement agreement was reached with the majority of parties in the pre-approval filing in Oklahoma[9] - 550 MW natural gas combustion turbines are expected to become operational in 2026, with 450 MW pending approval[9] - Customer growth is approximately 1%, and year-to-date weather-normalized load is 6.5%, with an expected 7.5% load growth in 2025[14] Capital Investments and Financing - The company issued $350 million in long-term debt at OG&E in April[14] - The capital plan was updated to include the Fort Smith to Muskogee transmission line, a $250 million project planned for service in phases from 2027 to 2029[14, 23] - Total capital expenditures are projected to be $6.5 billion from 2025 to 2029[21] Shareholder Returns - The company anticipates a compelling total shareholder return proposition, combining consolidated annual and long-term forecasted earnings per share growth of 5-7% with an expected stable and growing dividend[12]

AEP Third Quarter 2025 Earnings Presentation October 29, 2025 AEP CONFIDENTIAL Cautionary Note Regarding Forward- Looking Statements This presentation contains forward-looking statements. Words such as "expect," "anticipate," "intend," "plan," "believe," "will," "should," "could," "would," "project," "continue" and similar expressions, including statements reflecting future results or guidance and statements of outlook are intended to identify forward-looking statements but are not the exclusive means of id ...

Core Viewpoint - Edison International (EIX) is highlighted as a strong investment opportunity with a Zacks Rank 1 (Strong Buy) and a recent increase in the Zacks Consensus Estimate for its current year earnings by 0.3% over the last 60 days [1]. Group 1: Company Overview - Edison International is an investor-owned public utility company primarily engaged in supplying electricity to an area of approximately 50,000 square miles in Southern California [1]. - The company has a price-to-earnings ratio (P/E) of 9.33, significantly lower than the industry average of 19.40, indicating strong value characteristics [2]. - Edison International possesses a Value Score of A, further emphasizing its attractiveness to investors [2].

Core Insights - Three stocks with strong income characteristics and a buy rank are highlighted for investors to consider on October 29th Group 1: Edison International (EIX) - Edison International is an investor-owned public utility company supplying electricity to approximately 50,000 square miles in Southern California [1] - The Zacks Consensus Estimate for its current year earnings has increased by 0.3% over the last 60 days [1] - The company has a dividend yield of 5.8%, significantly higher than the industry average of 3.1% [2] Group 2: Horizon Bancorp IN (HBNC) - Horizon Bancorp is a bank holding company providing a wide range of commercial and retail banking services [3] - The Zacks Consensus Estimate for its current year earnings has increased by 2.7% over the last 60 days [3] - The company has a dividend yield of 3.9%, compared to the industry average of 2.7% [4] Group 3: Seagate Technology (STX) - Seagate Technology is engaged in providing data storage technology and infrastructure solutions internationally [4] - The Zacks Consensus Estimate for its current year earnings has increased by 2.4% over the last 60 days [4] - The company has a dividend yield of 1.3%, which is higher than the industry average of 0.0% [5]

Core Insights - Entergy Corporation reported third quarter 2025 earnings per share of $1.53, an increase from $1.50 in the same quarter of 2024, reflecting a solid performance in both as-reported and adjusted earnings [3][10][26] - The company narrowed its 2025 adjusted EPS guidance range to $3.85 to $3.95, indicating a positive outlook for the remainder of the year [5][10] Financial Performance - For Q3 2025, Entergy's consolidated earnings were $694 million, up from $645 million in Q3 2024, marking a $49 million increase [3][26] - Adjusted earnings for the year-to-date 2025 reached $1,522 million, compared to $1,286 million in the same period of 2024, reflecting a $236 million increase [3][26] - The estimated weather impact on earnings was $28 million for Q3 2025, down from $41 million in Q3 2024 [3][26] Business Segments - The Utility segment reported earnings of $810 million for Q3 2025, compared to $787 million in Q3 2024, with earnings per share of $1.79, slightly down from $1.82 [6][28] - The Parent & Other segment reported a loss of $(117) million for Q3 2025, an improvement from a loss of $(142) million in Q3 2024 [8][28] Operational Highlights - Entergy's pipeline for potential data center customers is expanding, with an increase in agreements for power island equipment by an additional 4.5 gigawatts [2] - The company received regulatory approvals for various projects, including a $200 million grant from the Texas Energy Fund for resiliency projects and applications for new power stations in Arkansas [5][6] Shareholder Information - The diluted average number of common shares outstanding increased to 454 million in Q3 2025 from 431 million in Q3 2024, impacting earnings per share calculations [8][28] - Entergy executed a two-for-one forward stock split effective December 13, 2024, which has been reflected in the per-share information [28][36]

Core Insights - Transgrid and Endeavour Energy are collaborating on a new electricity infrastructure project to support the Western Sydney Aerotropolis, ensuring a reliable energy supply for the region for decades to come [1][3] - The project includes the establishment of a new bulk supply point (BSP) at Kemps Creek, which is a cost-effective solution to meet the growing electricity demand [1][4] - The Aerotropolis is expected to create 120,000 new jobs and is a significant infrastructure and economic development initiative in Australia [3] Investment Details - The total investment for the project is $136.7 million, with Transgrid contributing $111.7 million for the construction of the BSP [3][4] - Endeavour Energy will invest $25 million to enhance the local distribution network as part of a broader $580 million investment over the next ten years to support the Aerotropolis growth [5] Strategic Importance - The project aims to provide a secure and scalable supply of renewable electricity, linking the Aerotropolis with renewable energy sources across New South Wales [4] - The initiative is aligned with major public and private developments in the area, including the Sydney Metro and M12 Motorway, expected to be operational by the end of the decade [3]

Core Viewpoint - Edison International's CEO, Pedro Pizarro, indicated a potential link between the company's utility equipment and the initiation of the deadly Eaton Fire, as reported by Bloomberg [4]. Company Summary - Southern California Edison, a subsidiary of Edison International, is currently unable to confirm the exact cause of the Eaton Fire [4].

Economic Indicators - U.S. consumer confidence declined by 1.0 point to 94.6 in October, reflecting concerns over a softening labor market and high living costs [2][7] - The Expectations Index fell by 2.9 points to 71.5, remaining below the 80-point threshold that often signals an impending recession [2] - The unemployment rate rose to 4.3%, the highest since October 2021, with only 22,000 jobs added in August and 79,000 in July [2] Corporate News - UnitedHealth Group (UNH) raised its 2025 earnings outlook, projecting adjusted net earnings of at least $16.25 per share and net earnings of at least $14.90 per share [3][7] - The company reported third-quarter 2025 revenues of $113.2 billion, a 12% year-over-year increase, with UnitedHealthcare revenues climbing 16% to $87.1 billion [3] - Despite the positive outlook, UnitedHealth anticipates significant pressure on its Medicaid business in 2026 [3][7] Monetary Policy - The Reserve Bank of New Zealand (RBNZ) confirmed that recent interest rate cuts are effectively easing borrowing costs, with the Official Cash Rate (OCR) lowered by 50 basis points to 2.5% [4][7] - Financial conditions in New Zealand have improved, with credit flowing more easily across the economy [4] Legal and Regulatory Issues - Edison International (EIX) faces potential liability related to the Eaton Fire, with the U.S. Department of Justice suing Southern California Edison for over $40 million in costs [5] - The company's valuation has reportedly dropped from $30 billion to $22.6 billion since the fires [5] European Politics - Centrist groups in the European Parliament are demanding significant changes to the proposed €2 trillion seven-year budget for the EU, citing concerns over renationalization of funds and lack of parliamentary oversight [6][7]