American Electric Power Earnings: Here’s Why Shares are Down Now
American Electric Power Co., Inc. (NYSE:AEP) delivered a profit and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 0.22%.
American Electric Power Co., Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 5.19% to $0.73 in the quarter versus EPS of $0.77 in the year-earlier quarter.
Revenue: Rose 1.38% to $3.6 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: American Electric Power Co., Inc. reported adjusted EPS income of $0.73 per share. By that measure, the company missed the mean analyst estimate of $0.74. It missed the average revenue estimate of $3.64 billion.
Quoting Management: “We are executing well on our earnings growth strategy. We continue to successfully direct significant investments to our regulated infrastructure for the benefit of our customers. The strong results from our regulated businesses, including transmission, are offsetting some of the negative earnings impacts from the transition to competition in Ohio,” said Nicholas K. Akins, AEP president and chief executive officer.
Key Stats (on next page)…