American Electric Power Company, Inc. (NASDAQ:AEP) on Wednesday posted stronger-than-expected second-quarter results and raised its full-year GAAP earnings guidance, citing customer load growth, favorable regulatory outcomes, and capital strength across key service territories.
The Ohio-based utility reported adjusted earnings of $1.43 per share, up from $1.25 a year ago and above the Street estimate of $1.23. Revenue rose 11.1% year-over-year to $5.09 billion, ahead of the $4.84 billion analyst consensus.
GAAP earnings surged to $2.29 per share, compared to $0.64 a year earlier, primarily due to one-time regulatory and investment-related gains.
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American Electric Power reported higher second-quarter operating earnings across all core segments, with Vertically Integrated Utilities earning $296.7 million, up from $244.8 million, and Transmission & Distribution Utilities contributing $224.1 million, compared with $215.3 million a …