American Electric Power reports Q1 profit beat as commercial usage grows [Reuters]
American Electric Power Company, Inc. (AEP)
Last american electric power company, inc. earnings: 2/20 06:57 am
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Source: Reuters
The company said it saw higher commercial sales with load growth of 10.5% from a year earlier, which helped offset the expected decline in usage for residential customers. "AEP's industry-leading transmission network continues to attract meaningful investment from data centers and other commercial and industrial customers, especially in our Indiana, Ohio and Texas service areas," interim CEO Ben Fowke said. The company, however, continued to face unfavorable weather in the quarter. Mild weather conditions dampen demand for electricity and natural gas, affecting American Electric Power, which delivers power to 5.6 million customers in 11 states. The Columbus, Ohio-based company reaffirmed its 2024 operating earnings forecast range of $5.53 to $5.73 per share. American Electric Power reported an operating profit of $1.27 per share, beating analysts' estimates of $1.25, according to LSEG data. Additionally, the company said it is taking several steps including "voluntary workf
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AEP
News
- An Ohio power company wants data centers to pay their fair share of electricity use as demand surges amid the AI boom [Business Insider]Business Insider
- American Electric Power Company, Inc. (NASDAQ: AEP) had its price target raised by analysts at BMO Capital Markets from $95.00 to $99.00. They now have an "outperform" rating on the stock.MarketBeat
- AEP Signs Agreement to Sell Distributed Resources Business to Basalt [Yahoo! Finance]Yahoo! Finance
- AEP Retains AEP Energy, Reaffirms 2024 Earnings GuidancePR Newswire
- AEP Signs Agreement to Sell Distributed Resources Business to BasaltPR Newswire
AEP
Earnings
- 4/30/24 - Miss
AEP
Sec Filings
- 5/10/24 - Form S-8
- 5/2/24 - Form 4
- 5/2/24 - Form 4
- AEP's page on the SEC website