10-Q · May 5, 2026
American Electric Power Company (AEP) reported a robust first quarter of 2026, with revenue of $6.02 billion, exceeding estimates and reflecting a year-over-year increase of 10.2%. Diluted EPS was $1.60, up from $1.50…
Earnings analysis · 10-Q
AEP earnings analysis
Filed October 28, 2026 · Our reading of the company's report
The latest report
AEP reported a strong third quarter, with $6.832 billion of revenue and $2.18 of GAAP EPS exceeding consensus estimates of $6.542 billion and $2.04, respectively. Operating earnings rose 26%, while management expects…
Read full summary
AEP reported a strong third quarter, with $6.832 billion of revenue and $2.18 of GAAP EPS exceeding consensus estimates of $6.542 billion and $2.04, respectively. Operating earnings rose 26%, while management expects 2026 operating EPS to be at or above the high end of the prior $6.25-$6.55 range and added 2027-2028 EPS guidance. The $100 billion capital plan supports long-term growth but increases financing and execution requirements; no material changes to previously disclosed risk factors were reported as of September 30, 2026.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $2.18
What stood out
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Revenue and EPS beat estimates
Third-quarter revenue was $6.832 billion versus the $6.542 billion consensus estimate, a $290 million beat. GAAP EPS was $2.18 versus the $2.04 estimate, a $0.14 beat.
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Operating earnings rose 26%
Operating earnings increased 26% year over year, indicating improved underlying earnings momentum in the quarter.
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Capital plan expanded to $100 billion
AEP expanded its capital plan to $100 billion, supported by load commitments and expected electricity demand growth.
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Multi-year EPS outlook introduced
Management introduced 2027 operating EPS guidance of $6.75-$7.05 and 2028 guidance of $7.40-$7.70, extending its stated earnings outlook beyond 2026.
What to watch
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Large capital plan raises execution risk
AEP stated that, as of September 30, 2026, there had been no material changes to the risk factors disclosed in its 2025 Form 10-K. The expanded $100 billion capital plan nevertheless increases potential financing and execution exposure.
Management's outlook
Management expects 2026 operating EPS to be at or above the high end of the prior $6.25-$6.55 range and introduced 2027 operating EPS guidance of $6.75-$7.05 and 2028 guidance of $7.40-$7.70. No quarterly revenue guidance was provided.
Earlier filings 4
10-K · February 12, 2026
AEP reported stronger 2025 operating results with earnings attributable to common shareholders rising to $3.6 billion (from $3.0 billion in 2024) while executing a large growth plan to meet accelerated data‑center and…
10-Q · July 30, 2024
AEP’s Q2 filing shows mixed results: consolidated earnings attributable to common shareholders fell to $340 million in Q2 2024 from $521 million in Q2 2023, largely driven by a revenue refund provision, EPA CCR-related…
10-Q · April 30, 2024
AEP reported first-quarter 2024 revenue of $5,000,000,000 and GAAP diluted EPS of $1.27. Consolidated earnings attributable to common shareholders increased to $1,003 million in Q1 2024 from $397 million in Q1 2023,…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.