COLUMBUS, Ohio, April 23, 2024 /PRNewswire/ -- American Electric Power (Nasdaq: AEP) was included in Forbes Best Employers for Diversity 2024 list. The list was developed based on an independent survey from a sample of more than 170,000 U.S.-based employees. Participants were asked to anonymously rate their organizations on criteria such as age, gender, ethnicity, disability and sexual orientation equality. Respondents belonging to underrepresented groups also were asked to nominate organizations other than ...

COLUMBUS, Ohio, April 4, 2024 /PRNewswire/ -- American Electric Power (Nasdaq: AEP) is one of six companies to earn the JUST Jobs Leader designation on the JUST Jobs Scorecard released today. The JUST Jobs Scorecard is a new, data-driven tool that helps companies prioritize investments in their employees. The scorecard helps corporate leaders assess job quality performance based on 31 data points in six key topic areas: benefits, employee wellness, hiring and stability, training and development, wages and c ...

imaginima American Electric Power (NASDAQ:AEP) is one of the largest electric utilities in the United States. Only smaller than a handful of competitors, including NextEra Energy (NEE), Southern Co (SO), Duke (DUK), and Constellation Energy (CEG), the company is an agglomeration of generation, transmission, and distribution subsidiaries that serve electricity to a portion of the eastern seaboard, as well as the midwestern United States. Given the company's size and financials, one might expect that AEP ...

5 Big Dividend Paying Utility Stocks To Buy Right Now trekandshoot / iStock via Getty Images After an incredible year like 2023 and a solid first quarter this year, many investors are probably still taking the proverbial victory lap, and with good reason. However, the tide could be turning after the January and February consumer and producer index reports came in hotter than expected, indicating that inflation remains sticky.While interest rates probably start to come down, which could be as late as the f ...

CEO Slashes PG&E Stake by Almost Half YinYang / iStock via Getty Images Examining how company insiders manage their positions in their own companies can reveal a lot. People may sell shares for many reasons, such as buying a house, paying for college, or estate planning. Generally, they buy shares for just one reason: to make more money.Often, one of the largest and best-informed shareholders in any company is the chief executive officer. Let’s have a look at whether the CEO of PG&E Corp. (NYSE: PCG), Pat ...

COLUMBUS, Ohio, Feb. 27, 2024 /PRNewswire/ -- American Electric Power (Nasdaq: AEP) has completed the sale of its 50% interest in New Mexico Renewable Development, LLC (NMRD) to Exus North America Holdings, LLC (Exus). AEP nets approximately $104 million in cash after tax, transaction fees and other customary adjustments. AEP began the sale process in June 2023 and received necessary regulatory approval from the Federal Energy Regulatory Commission, New Mexico regulatory approvals associated with one of NMR ...

Financial Data and Key Metrics Changes - Operating earnings for 2023 were $5.25 per share, an increase from $5.09 per share in 2022, despite challenges such as unfavorable weather and higher interest costs [7][22] - GAAP earnings for Q4 2023 were $0.64 per share, down from $0.75 per share in Q4 2022, while full-year GAAP earnings were $4.26 compared to $4.51 in 2022 [20][21] - The company reaffirmed its 2024 full-year operating earnings guidance range of $5.53 to $5.73, with a long-term earnings growth rate of 6% to 7% [11][33] Business Line Data and Key Metrics Changes - Vertically Integrated Utilities segment operating earnings were $2.47 per share, down $0.09 due to unfavorable weather and higher interest expenses [22] - Transmission and Distribution Utility segment earned $1.30 per share, up $0.14 from last year, driven by increased transmission revenue and lower O&M [23] - Generation and Marketing produced $0.59 per share, up $0.09, primarily due to improved retail and wholesale power margins [24] Market Data and Key Metrics Changes - Overall retail load grew by 2.5% in 2023, exceeding the original guidance of 0.7%, with commercial sales growing by 7.8% [26] - Industrial sales increased by 1.6%, attributed to new large industrial loads, while residential load slightly declined due to increased energy efficiency [27][28] Company Strategy and Development Direction - The company is focused on simplifying and de-risking its portfolio, having completed the sale of its unregulated renewables portfolio for $1.2 billion [9] - AEP plans to continue disciplined portfolio management and is committed to achieving constructive regulatory outcomes [10][11] - The company is advancing a $43 billion 5-year capital plan, with $6.6 billion of new renewable projects approved [11][17] Management's Comments on Operating Environment and Future Outlook - Management acknowledged 2023 as a challenging year but emphasized confidence in the team's ability to achieve objectives and deliver reliable energy [12] - The company is optimistic about future opportunities, particularly in commercial and industrial load growth, driven by data center expansions [26][28] - Management is committed to improving regulatory strategies to achieve a forecasted regulated ROE of 9.1% [16] Other Important Information - The company has secured $312 million in rate relief in 2023 and is working on several new base rate cases across various states [14][15] - AEP's FFO to debt metric stands at 13.2% for 2023, with expectations to improve to the target range of 14% to 15% in 2024 [30] Q&A Session Summary Question: What does the company see as broken in its current strategy? - Management does not view the situation as broken but acknowledges areas for improvement, particularly in achieving constructive regulatory outcomes [35][36] Question: What are the expectations for the new CEO? - The search for a new CEO is external, with a preference for a seasoned executive in the utility industry who has regulatory success experience [42][43] Question: How does the company plan to address regulatory challenges? - Management plans to strengthen regulatory relationships and focus on execution to improve outcomes [41][66] Question: What are the opportunities related to data centers? - The biggest opportunities are in Ohio and Texas, with capital included in the 5-year plan to serve these customers [70] Question: How will the company allocate capital across jurisdictions? - The company will prioritize capital allocation based on where it can achieve the best returns while ensuring reliability and safety [80]

American Electric Power Company, Inc. (AEP) reported fourth-quarter 2023 adjusted earnings per share (EPS) of $1.23, which missed the Zacks Consensus Estimate of $1.27 by 3.1%. The bottom line, however, improved 17.1% from $1.05 recorded in the year-ago quarter.The company reported GAAP earnings of 64 cents per share compared with the year-ago quarter’s figure of 75 cents.For 2023, the company generated adjusted EPS of $5.25, up from $5.09 recorded in 2022. The full-year bottom line, however, missed the con ...

4t“hSaQfeu Haarrbtoer”r 2023 Earnings Statement Under the Release Presentation on Private Securities FeLibtigrautioanr Rye f2or7m, 2024 Act of 1995 Published on February 26, 2024 Darcy Reese, Vice President Investor Relations ...

For the quarter ended December 2023, American Electric Power (AEP) reported revenue of $4.6 billion, down 5.8% over the same period last year. EPS came in at $1.23, compared to $1.05 in the year-ago quarter.The reported revenue represents a surprise of -11.83% over the Zacks Consensus Estimate of $5.22 billion. With the consensus EPS estimate being $1.27, the EPS surprise was -3.15%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to d ...