COLUMBUS, Ohio (AP) — COLUMBUS, Ohio (AP) — American Electric Power Co. (AEP) on Tuesday reported first-quarter earnings of $800.2 million.
On a per-share basis, the Columbus, Ohio-based company said it had net income of $1.50. Earnings, adjusted for non-recurring costs, came to $1.54 per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.39 per share.
The utility posted revenue of $5.46 billion in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $5.34 billion.
AEP expects full-year earnings in the range of $5.75 to $5.95 per share.
AEP shares have climbed 16% since the beginning of the year, while the S&P’s 500 index has declined nearly 4%. The stock has risen 21% 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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