PR Newswire
COLUMBUS, Ohio, July 28, 2016
COLUMBUS, Ohio, July 28, 2016 /PRNewswire/ --
AMERICAN ELECTRIC POWER | |||||||||||||||||||||||
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| | Second Quarter ended June 30 | Year-to-date ended June 30 | ||||||||||||||||||||
| | 2016 | 2015 ARIVA.DE Börsen-GeflüsterWerbung Weiter abwärts?
Morgan Stanley
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Kurse | Variance | 2016 | 2015 | Variance | ||||||||||||||||
Revenue ($ in billions): | 3.9 | | 3.8 | | 0.1 | | 7.9 | | 8.4 | | (0.5) | | |||||||||||
Earnings ($ in millions): | | | | | | | |||||||||||||||||
| GAAP | 502.1 | | 430.0 | | 72.1 | | 1,003.3 | | 1,059.2 | | (55.9) | | ||||||||||
| Operating | 465.7 | | 429.0 | | 36.7 | | 966.9 | | 1,053.8 | | (86.9) | | ||||||||||
EPS ($): | | | | | | | | ||||||||||||||||
| GAAP | 1.02 | | 0.88 | | 0.14 | | 2.04 | | 2.16 | | (0.12) | | ||||||||||
| Operating | 0.95 | | 0.88 | | 0.07 | | 1.97 | | 2.15 | | (0.18) | | ||||||||||
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EPS based on 491mm shares 2Q 2016, 490mm shares 2Q 2015, 491mm shares YTD 2016 and 490mm shares YTD 2015. |
American Electric Power (NYSE: AEP) today reported second-quarter 2016 earnings, prepared in accordance with Generally Accepted Accounting Principles (GAAP), of $502 million or $1.02 per share, compared with GAAP earnings of $430 million or $0.88 per share in second-quarter 2015. Operating earnings for second-quarter 2016 were $466 million or $0.95 per share, compared with operating earnings of $429 million or $0.88 per share in second-quarter 2015. Operating earnings is a non-GAAP measure representing GAAP earnings excluding special items.
The difference between second-quarter 2016 GAAP earnings and operating earnings was due to a federal tax audit settlement, final accounting for the fourth-quarter 2015 sale of AEP's commercial barge operations, and the mark-to-market impact of commodity hedging activities within the Generation & Marketing segment.
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.
"Our positive earnings performance this quarter once again demonstrates that strategic investment in our regulated businesses supports earnings growth. There are significant opportunities for us to develop advanced energy infrastructure and technologies to enhance service for our customers and support the nation's energy future," said Nicholas K. Akins, AEP chairman, president and chief executive officer.
"We are investing in transmission infrastructure through our regulated utilities and our transmission business. Net plant investment in AEP Transmission Holding Co. has grown more than $840 million, an increase of 32 percent, since June 2015. This segment contributed 19 cents per share to earnings this quarter, an increase of 6 cents per share over the same period last year," Akins said.
"We experienced growth in sales to our commercial customers in the second quarter, and normalized residential sales rebounded after declines in the first three months of the year. Industrial sales declined in the second quarter reflecting lower energy prices, weak global demand and the strong dollar. However, these declines were offset by the growth in residential and commercial customer sales, which provide higher margins," Akins said.
"The focus of the entire AEP team on process improvement, cost discipline and capital allocation gives us confidence that we can achieve operating earnings within our guidance range of $3.60 to $3.80 per share for 2016," Akins said.
SUMMARY OF RESULTS BY SEGMENT | ||||||||||||
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GAAP Earnings | 2Q 16 | 2Q 15 | Variance | YTD 16 | YTD 15 | Variance | ||||||
Vertically Integrated Utilities (a) | 209.4 | | 206.9 | | 2.5 | | 487.0 | | 506.2 | | (19.2) | |
Transmission & Distribution | 124.6 | | 77.6 | | 47.0 | | 232.6 | | 174.8 | | 57.8 | |
AEP Transmission Holdco (c) | 94.6 | | 65.2 | | 29.4 | | 138.5 | | 101.0 | | 37.5 | |
Generation & Marketing (d) | 49.7 | | 81.3 | | (31.6) | | 120.4 | | 268.7 | | (148.3) | |
Corporate and Other (e) | 23.8 | | (1.0) | | 24.8 | | 24.8 Werbung Mehr Nachrichten zur American Electric Power Aktie kostenlos abonnieren
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