COLUMBUS, Ohio (AP) — COLUMBUS, Ohio (AP) — American Electric Power Co. (AEP) on Wednesday reported second-quarter earnings of $1.23 billion.
On a per-share basis, the Columbus, Ohio-based company said it had profit of $2.29. Earnings, adjusted for non-recurring gains, were $1.43 per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.28 per share.
The utility posted revenue of $5.09 billion in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $4.94 billion.
AEP expects full-year earnings in the range of $5.75 to $5.95 per share.
AEP shares have climbed 18% since the beginning of the year, while the S&P’s 500 index has increased slightly more than 8%. The stock has climbed 13% 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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