American Electric Power Company Inc. Earnings: Positive Earnings Streak Continues

S&P 500 (NYSE:SPY) component American Electric Power Company Inc (NYSE:AEP) reported its results for the first quarter. American Electric Power is a public utility holding company that provides electric service, consisting of generation, transmission, and distribution, to its retail customers through subsidiaries.

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American Electric Power Company Inc Earnings Cheat Sheet for the First Quarter

Results: Net income for the utility-electric power rose to $389 million (80 cents per share) vs. $353 million (73 cents per share) in the same quarter a year earlier. This marks a rise of 10.2% from the year-earlier quarter.

Revenue: Fell 2% to $3.6 billion from the year-earlier quarter.

Actual vs. Wall St. Expectations: American Electric Power Company Inc fell in line with the mean analyst estimate of 80 cents per share. It beat the average revenue estimate of $3.73 billion.

Quoting Management: “Our ongoing earnings for the quarter were in line with results from first-quarter last year despite record-setting mild winter weather in the regions that we serve,” said Nicholas K. Akins, AEP president and chief executive officer. “We continue to see growth in industrial demand. That growth, combined with our disciplined approach to controlling costs and improved rates in several jurisdictions, helped to offset the impact of the extremely mild winter, weakness in residential and commercial demand, and weakness in off-system sales.”

Key Stats:

The company has met estimates for two consecutive quarters. It reported net income of 40 cents in the fourth quarter of the last fiscal year.

Looking Forward: Analysts appear increasingly negative about the company’s results for the next quarter. The average estimate for the second quarter has moved down from 73 cents a share to 71 cents over the last sixty days. At $3.09 per share, the average estimate for the fiscal year has fallen from $3.18 ninety days ago.

(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

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