AEP Reports Second-Quarter 2017 Earnings; Reaffirms Full-Year Earnings Guidance

COLUMBUS, Ohio, July 27, 2017

AMERICAN ELECTRIC POWER
Preliminary, unaudited results
		Second Quarter ended June 30										Year-to-date ended June 30
		2017 ARIVA.DE Börsen-Geflüster Kurse American Electric Power 86,86 $ 0,00%		2016		Variance						2017				2016				Variance
Revenue ($ in billions):		3.6		3.9		(0.3)						7.5				7.9				(0.4)
Earnings (Loss) ($ in millions):
	GAAP	375.0		502.1		(127.1)						967.2				1,003.3				(36.1)
	Operating	370.4		465.7		(95.3)						844.7				966.9				(122.2)
EPS ($):
	GAAP	0.76		1.02		(0.26)						1.97				2.04				(0.07)
	Operating	0.75		0.95		(0.20)						1.72				1.97				(0.25)
EPS based on 492mm shares 2Q 2017, 491mm shares 2Q 2016, 492mm shares YTD 2017 and 491mm shares YTD 2016.

American Electric Power (NYSE: AEP) today reported second-quarter 2017 earnings, prepared in accordance with Generally Accepted Accounting Principles (GAAP), of $375 million or $0.76 per share, compared with GAAP earnings of $502 million or $1.02 per share in second-quarter 2016. Operating earnings for second-quarter 2017 were $370 million or $0.75 per share, compared with operating earnings of $466 million or $0.95 per share in second-quarter 2016. Operating earnings is a non-GAAP measure representing GAAP earnings excluding special items. The difference between 2017 GAAP earnings and operating earnings was largely due to adjustments related to the sale of competitive generation assets.

A full reconciliation of GAAP earnings to operating earnings for the quarter and year-to-date is included in the tables at the end of this news release.

"We are on track to achieve our operating earnings guidance range of $3.55 to $3.75 per share this year, despite the negative impact of very mild temperatures. We anticipated lower operating earnings performance this quarter, compared with last year, due to the sale of competitive generation assets and the positive impacts from regulatory true ups and reversals a year ago. The remainder of the year will benefit from lower operating and maintenance expenses compared to last year," said Nicholas K. Akins, AEP chairman, president and chief executive officer. 

"Overall economic conditions are getting better in the states we serve, consistent with the improvement we've projected in our 2017 operating earnings guidance. Industrial load increased by four percent this quarter, and we are now seeing positive industrial sales results across most industries in our service area. We are optimistic that this stronger industrial demand will lead to future improvements in commercial and residential load later this year.

"Our transmission business continues to expand, reflecting the increased investments we are making to provide enhanced grid reliability and resilience for customers. Our Transmission Holding Co. business contributed 26 cents per share for the quarter, an increase of seven cents from the same period last year," Akins said.  

SUMMARY OF RESULTS BY SEGMENT
$ in millions
GAAP Earnings	2Q 17			2Q 16		Variance			YTD 17				YTD 16					Variance
Vertically Integrated Utilities (a)	120.8			209.4			(88.6)		340.3				487.0					(146.7)
Transmission & Distribution Utilities (b)	111.2			124.6			(13.4)		230.3				232.1					(1.8)
AEP Transmission Holdco (c)	128.4			94.6			33.8		200.2				138.5					61.7
Generation & Marketing (d)	26.4			49.7			(23.3)		212.6				120.4					92.2
Corporate and Other (e)	(11.8)			23.8 Werbung Mehr Nachrichten zur American Electric Power Aktie kostenlos abonnieren E-Mail-Adresse Bitte überprüfe deine die E-Mail-Adresse. Benachrichtigungen von ARIVA.DE (Mit der Bestellung akzeptierst du die Datenschutzhinweise) -1 Vielen Dank, dass du dich für unseren Newsletter angemeldet hast. Du erhältst in Kürze eine E-Mail mit einem Aktivierungslink. Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte. Andere Nutzer interessierten sich auch für folgende News 25.04.24 - PR Newswire Mid Wynd International Investment Trust Plc - Transaction in Own Shares 25.04.24 - PR Newswire Fidelity Emerging Markets Ltd - Transaction in Own Shares 25.04.24 - PR Newswire Samson Rock Capital LLP - Form 8.3 - Accrol Group Holdings plc SolarBank    Wie die Revolution der sauberen Energie eine solide Investitionsmöglichkeit bieten könnte weiterlesen» Anzeige wo-site-teaser-box-16755_site-teaser-box_2024-04-25_09%253A00%253A00_2024-04-26_09%253A00%253A59