COLUMBUS, Ohio (AP) — COLUMBUS, Ohio (AP) — American Electric Power Co. (AEP) on Tuesday reported first-quarter net income of $1 billion.
On a per-share basis, the Columbus, Ohio-based company said it had net income of $1.91. Earnings, adjusted for non-recurring gains, came to $1.27 per share.
The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.30 per share.
The utility posted revenue of $5 billion in the period.
AEP expects full-year earnings in the range of $5.53 to $5.73 per share.
AEP shares have climbed nearly 7% since the beginning of the year, while the S&P’s 500 index has increased slightly more than 7%. The stock has declined almost 7% in the last 12 months.
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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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