AEP Research | Milton Maxwell

AEP

American Electric Power Company, Inc.

114.57

-1.20-1.04%

Dec 16, 4:00:01 PM EST

Upcoming Earnings

Report date

-/-

Earnings Call Transcripts

This Quarter (Q4 '25)

No earnings call transcript available yet

Last Quarter (Q3 '25)

No earnings call transcript available

Key Stats

Market Cap

61.33B

P/E (TTM)

16.77

Basic EPS (TTM)

6.83

Dividend Yield

0.03%

Recent Filings

8-K

12/5/25Dec 5, 2025

8-K

11/25/25Nov 25, 2025

8-K

AEP issues $2B debentures

9/25/25Sep 25, 2025

American Electric Power raised $2 billion through two series of junior subordinated debentures due 2056, with Series C at 5.800% fixed-to-fixed reset rate and Series D at 6.050%, via an underwriting agreement signed September 23, 2025. This bolsters the utility's long-term capital base amid rising infrastructure demands. No use of proceeds disclosed. Deal closes soon.

8-K

Record Q2 earnings boost guidance

7/30/25Jul 30, 2025

American Electric Power reported record second-quarter 2025 operating earnings of $1.43 per share, up from $1.25 last year, fueled by regulatory wins and customer growth. The utility secured agreements for 24 gigawatts of new load by 2030, boosting peak demand to over 60 gigawatts. AEP guides to the upper half of its $5.75–$5.95 operating EPS range. Strong execution drives sustained growth.

10-Q

Q2 FY2025 results

7/30/25Jul 30, 2025

American Electric Power Company, Inc. (AEP) reported strong Q2 2025 results, with earnings attributable to common shareholders surging to $1.2 billion, up from $340 million in Q2 2024. This remarkable growth was primarily driven by a $499 million favorable impact from the FERC's June 2025 orders on NOLCs in transmission formula rates, which reversed prior refund provisions and reduced Excess ADIT liabilities across subsidiaries. Excluding this one-time benefit, underlying operations showed solid momentum, with Vertically Integrated Utilities earnings rising 32% year-over-year to $433 million, fueled by higher base rates, rider revenues, and favorable weather-normalized demand in residential and commercial segments, despite a 18% drop in cooling degree days. Transmission and Distribution Utilities delivered $224 million in earnings, bolstered by continued infrastructure investments, while AEP Transmission Holdco's $578 million reflected the NOLC ruling's boost alongside organic growth from $16.5 billion in assets. Generation & Marketing contributed $62 million, aided by higher realized prices and MTM hedging gains. Cash from operations reached $2.7 billion YTD, supporting $4 billion in capex and the $2.8 billion Midwest Transmission noncontrolling interest deal, which strengthened the balance sheet with $5.6 billion in liquidity. EPS climbed to $2.29 from $0.64, with a forward P/E of 18x and 4.2% dividend yield underscoring robust fundamentals amid regulatory tailwinds.

About

American Electric Power Company, Inc., an electric public utility holding company, engages in the generation, transmission, and distribution of electricity for sale to retail and wholesale customers in the United States. It operates through Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing segments. The company generates electricity using coal and lignite, natural gas, renewable, nuclear, hydro, solar, wind, and other energy sources; owns, operates, maintains, and invests in transmission infrastructure; and engages in wholesale energy trading and marketing business. It operates approximately 225,000 circuit miles of distribution lines that delivers electricity to 5.6 million customers; 40,000 circuit miles of transmission lines; and 23,000 MWs of regulated owned generating capacity. American Electric Power Company, Inc. was incorporated in 1906 and is headquartered in Columbus, Ohio.

CEO

Mr. William J. Fehrman

IPO

1/2/1962

Website

https://www.aep.com

Employees

16,330

Sector

Utilities

Industry

Utilities - Regulated Electric