Press release
AEP Reports First-Quarter 2025 Earnings, Reaffirms Guidance
AEP completes anticipated equity needs to execute five-year, $54 billion capital investment plan.Company makes progress achieving balanced regulatory
About this update from American Electric Power Company, Inc.
[{"type":"text","content":"AEP completes anticipated equity needs to execute five-year, $54 billion capital investment plan.Company makes progress achieving balanced regulatory outcomes, focuses on needs of states.Growth continues to be driven by commercial load, which increased 12.3% in first-quarter 2025 over the same period in 2024.First-quarter 2025 GAAP earnings of $1.50 per share; operating earnings of $1.54 per share.Company reaffirms 2025 operating earnings (non-GAAP) guidance of $5.75 to $5.95 per share and long-term growth rate of 6% to 8%.COLUMBUS, Ohio, May 6, 2025 /PRNewswire/ -- American Electric Power (Nasdaq: AEP) today reported first-quarter 2025 earnings, prepared in accordance with Generally Accepted Accounting Principles (GAAP), of $800 million or $1.50 per share, compared with GAAP earnings of $1,003 million or $1.91 per share in first-quarter 2024. Operating earnings for first-quarter 2025 were $823 million or $1.54 per share, compared with operating earnings of $670 million or $1.27 per share in first-quarter 2024. See the detailed GAAP to operating earnings reconciliation at the end of this press release.\n\"Our robust operating earnings results this quarter reflect our team's continued focus on execution and innovation to deliver on our commitments to our customers, communities, regulators and investors. This strong performance gives us the confidence to reaffirm our 2025 operating earnings guidance of $5.75 to $5.95 per share. We also reaffirm our projected long-term growth rate of 6% to 8%,\" said Bill Fehrman, AEP president and chief executive officer.\nMeeting Equity Needs to Execute Robust Capital Plan\nAEP secured funding in the first quarter to complete the anticipated equity needs for its five-year, $54 billion capital growth plan through an agreement for a minority equity interest investment in the Ohio and Indiana Michigan transmission companies and a forward equity offering. The $2.82 billion transmission company transaction, announced in January, is on track to close in the coming months. Authorization from the Federal Energy Regulatory Commission is the final remaining step in the approval process. AEP's equity offering secured $2.3 billion and was completed in March. The equity will be settled under a forward contract by December 2026. These two transactions are equivalent to issuing common stock at approximately $14...