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AEP: 2Q Earnings Snapshot

August 6, 2020 GMT

COLUMBUS, Ohio (AP) _ American Electric Power Co. (AEP) on Thursday reported second-quarter earnings of $520.8 million.

On a per-share basis, the Columbus, Ohio-based company said it had net income of $1.05. Earnings, adjusted for non-recurring costs, came to $1.08 per share.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.06 per share.

The utility posted revenue of $3.49 billion in the period.

AEP expects full-year earnings in the range of $4.25 to $4.45 per share.

AEP shares have declined 11% since the beginning of the year, while the Standard & Poor’s 500 index has climbed 3%. The stock has fallen roughly 5% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AEP at https://www.zacks.com/ap/AEP