COLUMBUS (dpa-AFX) - American Electric Power Company, Inc. (AEP) Wednesday unveiled an expanded $100 billion capital investment plan covering the next five years through 2031, citing growing electricity demand across its service territory. The company also set a long-term operating earnings growth target of 9% to 11% annually from 2027 through 2031.
AEP expects the expanded investment plan to support rate base growth of more than 13% annually through 2031.
For 2026, the company now expects operating earnings per share to reach or exceed the upper end of its previous guidance range of $6.25 to $6.55.
AEP expects operating earnings per share of $6.75 to $7.05 in 2027 and $7.40 to $7.70 in 2028. Based on the midpoint of its original 2026 guidance of $6.30 per share, the company expects operating earnings to grow at a compound annual rate of more than 10% through 2031.
AEP reported third-quarter net income of $1.187 billion, or $2.18 per share, compared with $972 million, or $1.82 per share, a year earlier. Adjusted earnings were $1.216 billion, or $2.23 per share.
Revenue rose 13.7% to $6.832 billion from $6.011 billion in the prior-year quarter.
In pre-market trading on the Nasdaq, AEP shares were up 0.04% after closing at $130.30 on Tuesday.
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