COLUMBUS (dpa-AFX) - While reporting financial results for the second quarter on Thursday, electric utility American Electric Power Co., Inc. (AEP) raised its operating earnings guidance for the full-year 2026, reflecting strong performance through the first half of the year and expected results for the remainder of the year.
For fiscal 2026, the company continues to project operating earnings in the range of $6.25 to $6.55 per share, up from the prior forecast range of $6.15 to $6.45 per share.
The company also continues to expect its long-term annual operating earnings growth rate to 7 to 9 percent through 2030, with an expected operating earnings compound annual growth rate (CAGR) of greater than 9 percent.
For the second quarter, the company reported net earnings of $1.23 billion or $2.29 per share, sharply higher than $713 million or $1.31 per share in the same quarter last year.
Excluding items, operating earnings for the quarter was $1.43 per share, compared to $1.36 per share in the year-ago quarter.
Revenues for the quarter declined to $5.09 billion from $5.45 billion in the same quarter last year.
In Thursday's pre-market trading, AEP is trading on the Nasdaq at $129.51, up $0.11 or 0.09 percent.
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