COLUMBUS, Ohio (AP) — COLUMBUS, Ohio (AP) — American Electric Power Co. (AEP) on Thursday reported fourth-quarter earnings of $384.3 million.
On a per-share basis, the Columbus, Ohio-based company said it had net income of 75 cents. Earnings, adjusted for non-recurring costs, were $1.05 per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 99 cents per share.
The utility posted revenue of $4.88 billion in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $4.26 billion.
For the year, the company reported profit of $2.31 billion, or $4.51 per share. Revenue was reported as $19.64 billion.
AEP expects full-year earnings in the range of $5.19 to $5.39 per share.
AEP shares have decreased slightly more than 4% since the beginning of the year, while the S&P’s 500 index has increased nearly 4%. The stock has risen roughly 6% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AEP at https://www.zacks.com/ap/AEP
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