American Electric Power Q3 Adj. Profit Beats Estimates; Raises FY19 EPS Outlook

(RTTNews) - American Electric Power Co., Inc. (AEP) on Thursday reported that its net earnings for the third quarter were $733.5 million or $1.49 per share, up from $577.6 million or $1.17 per share in the year-ago period.

Operating earnings for the quarter were $722.3 million or $1.46 per share, compared to $619.1 million or $1.26 per share in the prior-year period.

Revenue for the quarter was flat with the prior-year quarter at $4.3 billion.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $1.32 per share for the quarter on revenues of $4.71 billion. Analysts' estimates typically exclude special items.

AEP said its board of directors also voted earlier this week to boost the quarterly dividend by $0.03 to $0.70 per share, an increase of 4.5 percent.

Looking ahead to fiscal 2019, AEP increased and narrowed its operating earnings outlook range to $4.14 to $4.24 per share, from the prior range of $4.00 to $4.20 per share. The Street expects earnings of $4.15 per share for the year.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story


Latest Markets Videos


Founded in the late 1990s by Andrew Mariathasan in New York, with the goal of covering Wall Street for a new generation of investors, RTTNews has expanded steadily over the years to become a trusted provider of content for a wide array of subjects across several platforms. RTT's Financial Newswire is relied upon by some of the world's largest financial institutions, including banks, brokerages, trading platforms and financial exchanges.

Learn More