secwatch.observer — SEC 8-K summary
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Issuer:     AMERICAN ELECTRIC POWER CO INC (AEP)
CIK:        0000004904
Form:       8-K
Filed at:   2023-05-04T23:59:59+00:00
Accession:  0000004904-23-000071
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

AEP Q1 GAAP EPS $0.77 vs $1.41 YoY; operating EPS $1.11; reaffirms 2023 guidance $5.19-$5.39
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- First-quarter 2023 GAAP earnings of $0.77 per share, down 45% from $1.41 in Q1 2022; operating earnings $1.11 vs $1.22.
- Revenue $4.7B in Q1 2023 vs $4.6B in Q1 2022; GAAP net income $397M vs $715M.
- Reaffirmed 2023 operating EPS guidance of $5.19-$5.39 and long-term growth rate 6%-7%.
- Launched sale process for AEP Energy retail, AEP OnSite Partners, and 50% stake in New Mexico Renewable Development joint venture.
- Strategic review of non-core transmission JVs (Prairie Wind, Pioneer, Transource); expects to close unregulated renewables sale to IRG in Q2 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/4904/000000490423000071/0000004904-23-000071-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/4904/000000490423000071/aep-20230504.htm
  HTML page:      https://secwatch.observer/filing/0000004904-23-000071

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