(RTTNews) - While reporting financial results for the second quarter on Thursday, electric utility American Electric Power Co., Inc. (AEP) reaffirmed its fiscal 2020 operating earnings guidance in the range of $4.25 to $4.45 per share. Including special items, estimated earnings would be between $4.20 and $4.40 per share.
On average, 17 analysts polled by Thomson Reuters expect the company to earn $4.28 per share for the year. Analysts' estimates usually exclude special items.
The company also reaffirmed its long-term growth rate of 5 to 7 percent and said it remains focused on achieving longer term efficiencies through its Achieving Excellence Program. The company added that the 2020 operations and maintenance spending cuts announced in May are on target.
Further, the company updated its five-year capital plan to $35 billion from $33 billion to include the North Central wind projects.
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