AEP Q3 GAAP EPS $1.83, operating $1.77; FY23 guidance narrowed to $5.24-$5.34

AMERICAN ELECTRIC POWER CO INC

2023-Q3 EPS reported $3.62 revenue$14,405,100,000

Q3 GAAP net income $954M ($1.83/diluted share) vs $684M ($1.33) YoY; operating earnings $924M ($1.77).
Revenue $5.3B, down from $5.5B YoY; commercial load up 7.5%, residential customers up ~30,000.
FY23 operating EPS guidance narrowed to $5.24-$5.34 (midpoint $5.29); long-term growth 6-7% reaffirmed.
Quarterly dividend raised to $0.88/share, in line with earnings growth; completed sale of 1,365 MW renewables portfolio for ~$1.2B.
Ongoing strategic reviews: retail/distributed resources, renewable JV, two non-core transmission JVs, and Transource Energy JV.

item 2.02 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

AMERICAN ELECTRIC POWER CO INC reported Third quarter ended September 30, 2023 results: revenue 5.3, net income $954 million, EPS $1.83 per share. Guidance reaffirmed.

Period: Third quarter ended September 30, 2023
Revenue: 5.3
Net income: $954 million
EPS: $1.83 per share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

of $1.83 per share; operating earnings of $1.77 per share • 2023 operating earnings (non-GAAP) guidance range narrowed to $5.24 to $5.34 per share, midpoint maintained at $5.29 • Long-term growth rate of 6% to 7% and FFO/Debt target of 14% to 15% reaffirmed AMERICAN ELECTRIC POWER Preliminary, unaudited results Third Quarter ended September 30,

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accession 0000004904-23-000119

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