COLUMBUS (dpa-AFX) - American Electric Power (AEP) said it is expected to announce an ongoing earnings guidance range for 2012 of $3.05 to $3.25 per share.
On average, 17 analysts polled by Thomson Reuters expect the company to report earnings of $3.17 per share. Analysts' estimates typically exclude special items.
The company said it will share 2012 to 2014 plans, and expected capital spend, during a meeting today with investors in New York. American Electric Power would set its 2012 capital budget at $3.1 billion. Capital expenditures for 2013 and 2014 are estimated at $3.5 billion to $3.7 billion per year.
'We expect earnings growth between 4 and 6 percent over the next few years as we continue to invest in our regulated operations, refocus our transmission business and put capital to work on our regulated generating fleet to comply with new regulations from the U.S. Environmental Protection Agency,' said Nicholas Akins, AEP's president and chief executive officer.
'At the same time, we are creating two sustainable businesses out of our Ohio assets: a competitive generation company and a regulated wires company. The competitive generation company will be able to begin accessing the potential value of its assets in 2013 and will have an opportunity to realize the full value of those assets after mid-2015 through various hedging strategies, including retail and wholesale marketing activities,' Akins noted.
During today's meeting with investors, AEP management would provide an update on the company's operating subsidiaries and its generation and transmission portfolios.
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