COLUMBUS, Ohio (AP) — COLUMBUS, Ohio (AP) — American Electric Power Co. (AEP) on Wednesday reported third-quarter earnings of $972 million.
The Columbus, Ohio-based company said it had net income of $1.82 per share. Earnings, adjusted for non-recurring gains, were $1.80 per share.
The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.81 per share.
The utility posted revenue of $6.01 billion in the period, topping Street forecasts. Five analysts surveyed by Zacks expected $5.65 billion.
AEP expects full-year earnings in the range of $5.75 to $5.95 per share.
AEP shares have increased 25% since the beginning of the year, while the S&P’s 500 index has risen 17%. The stock has risen 16% 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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