AEP: 2Q Earnings Snapshot
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.