AEP Q2 operating EPS $1.25, reaffirms FY guidance; Fehrman to become CEO Aug 1

AMERICAN ELECTRIC POWER CO INC

2024-Q2 EPS reported $2.54 revenue$9,604,900,000

GAAP EPS $0.64 vs $1.01 a year ago; operating EPS $1.25 vs $1.13, up $0.12.
Q2 revenue $4.6B, up from $4.4B; commercial load rose 12.4% driven by data centers.
Reaffirmed 2024 operating EPS guidance $5.53-$5.73; long-term growth 6%-7%.
~1,000 employees took voluntary workforce reduction; charges included in GAAP.
Bill Fehrman assumes president & CEO on Aug 1; Ben Fowke stays as senior advisor.

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