News Releases
February 26, 2024
February 26, 2024
AEP Reports 2023 Earnings Results
- Year-end 2023 GAAP earnings of $4.26 per share; operating earnings of $5.25 per share
- 2024 operating earnings (non-GAAP) guidance range reaffirmed at $5.53 to $5.73 per share with long-term growth rate of 6% to 7% and FFO/Debt target of 14% to 15%
- Company advances strategic initiatives including de-risking the business, controlling costs and investing in a modern and reliable grid to benefit customers
- Year-end 2023 GAAP earnings of $4.26 per share; operating earnings of $5.25 per share
- 2024 operating earnings (non-GAAP) guidance range reaffirmed at $5.53 to $5.73 per share with long-term growth rate of 6% to 7% and FFO/Debt target of 14% to 15%
- Company advances strategic initiatives including de-risking the business, controlling costs and investing in a modern and reliable grid to benefit customers
February 21, 2024
February 21, 2024
AEP Schedules Live Webcast of Quarterly Earnings Call
American Electric Power has scheduled a quarterly earnings conference call with financial analysts at 9 a.m. ET Tuesday, Feb. 27. The call will be broadcast live over the internet at http://www.aep.com/webcasts.
American Electric Power has scheduled a quarterly earnings conference call with financial analysts at 9 a.m. ET Tuesday, Feb. 27. The call will be broadcast live over the internet at http://www.aep.com/webcasts.
January 19, 2024
January 19, 2024
AEP Declares Quarterly Dividend on Common Stock
The Board of Directors of American Electric Power Co. today declared a regular quarterly cash dividend of 88 cents a share on the company’s common stock.
The Board of Directors of American Electric Power Co. today declared a regular quarterly cash dividend of 88 cents a share on the company’s common stock.
December 27, 2023
December 27, 2023
Appalachian Power, Wheeling Power Seek Approval of Settlement Agreement in Fuel Cost Cases
American Electric Power subsidiaries Appalachian Power and Wheeling Power today filed a settlement agreement with the Public Service Commission of West Virginia (PSC) that addresses the companies’ Expanded Net Energy Cost (ENEC) cases. The agreement outlines a process for recovering deferred fuel and purchased power costs, major storm restoration expenses, power plant balances and environmental compliance project expenses through securitization.
American Electric Power subsidiaries Appalachian Power and Wheeling Power today filed a settlement agreement with the Public Service Commission of West Virginia (PSC) that addresses the companies’ Expanded Net Energy Cost (ENEC) cases. The agreement outlines a process for recovering deferred fuel and purchased power costs, major storm restoration expenses, power plant balances and environmental compliance project expenses through securitization.
December 26, 2023
December 26, 2023
AEP Signs Agreement To Sell New Mexico Solar Assets
American Electric Power has entered into an agreement to sell its 50% interest in New Mexico Renewable Development, LLC (NMRD) to Exus North America Holdings, LLC (Exus). AEP and PNM Resources, which also owns 50% of NMRD, plan to sell the portfolio of 15 solar projects totaling 625 megawatts (MW) to Exus for approximately $230 million subject to true-up adjustments at close. AEP’s share of the sale is approximately $115 million, and AEP expects to receive about $104 million in cash after tax, transaction fees and other customary adjustments. The sale is expected to close in February 2024 and will not have a material impact on financial results.
American Electric Power has entered into an agreement to sell its 50% interest in New Mexico Renewable Development, LLC (NMRD) to Exus North America Holdings, LLC (Exus). AEP and PNM Resources, which also owns 50% of NMRD, plan to sell the portfolio of 15 solar projects totaling 625 megawatts (MW) to Exus for approximately $230 million subject to true-up adjustments at close. AEP’s share of the sale is approximately $115 million, and AEP expects to receive about $104 million in cash after tax, transaction fees and other customary adjustments. The sale is expected to close in February 2024 and will not have a material impact on financial results.
November 10, 2023
November 10, 2023
AEP Streamlining Business and Focusing on Regulated Operations to Benefit Customers, Reaffirms Long-term Growth Rate of 6 to 7 Percent
- 2024 operating earnings guidance range of $5.53 to $5.73 per share announced
- Five-year, $43 billion capital plan emphasizes investments in wires and renewables to support needs of customers
- Economic development strategy bolsters strong load projections over the next three years
- 2024 operating earnings guidance range of $5.53 to $5.73 per share announced
- Five-year, $43 billion capital plan emphasizes investments in wires and renewables to support needs of customers
- Economic development strategy bolsters strong load projections over the next three years
November 2, 2023
November 2, 2023
AEP Reports Third-Quarter 2023 Earnings, Narrows Guidance While Maintaining Midpoint
- Third-quarter 2023 GAAP earnings of $1.83 per share; operating earnings of $1.77 per share
- 2023 operating earnings (non-GAAP) guidance range narrowed to $5.24 to $5.34 per share, midpoint maintained at $5.29
- Long-term growth rate of 6% to 7% and FFO/Debt target of 14% to 15% reaffirmed
- Third-quarter 2023 GAAP earnings of $1.83 per share; operating earnings of $1.77 per share
- 2023 operating earnings (non-GAAP) guidance range narrowed to $5.24 to $5.34 per share, midpoint maintained at $5.29
- Long-term growth rate of 6% to 7% and FFO/Debt target of 14% to 15% reaffirmed
October 30, 2023
October 30, 2023
AEP Schedules Live Webcast of Quarterly Earnings Call
American Electric Power has scheduled a quarterly earnings conference call with financial analysts at 9 a.m. ET Thursday, Nov. 2. The call will be broadcast live over the internet at http://www.aep.com/webcasts.
American Electric Power has scheduled a quarterly earnings conference call with financial analysts at 9 a.m. ET Thursday, Nov. 2. The call will be broadcast live over the internet at http://www.aep.com/webcasts.
October 2, 2023
October 2, 2023
AEP Appoints Charles E. Zebula Chief Financial Officer
Company reaffirms 2023 operating earnings guidance range of $5.19 to $5.39 per share, long-term growth rate of 6% to 7% and FFO/Debt target of 14% to 15%
Company reaffirms 2023 operating earnings guidance range of $5.19 to $5.39 per share, long-term growth rate of 6% to 7% and FFO/Debt target of 14% to 15%
July 31, 2023
July 31, 2023
AEP to Redeem Senior Notes
American Electric Power Company, Inc. announced that on Aug. 30, 2023, it will redeem the entire outstanding $600 million principal amount of its Floating Rate Notes, Series A, due 2023 (CUSIP NO. 025537 AS0). The notes will be redeemed at 100 percent of the principal amount outstanding (at par value of $100 per Senior Note), plus interest through the date of redemption.
American Electric Power Company, Inc. announced that on Aug. 30, 2023, it will redeem the entire outstanding $600 million principal amount of its Floating Rate Notes, Series A, due 2023 (CUSIP NO. 025537 AS0). The notes will be redeemed at 100 percent of the principal amount outstanding (at par value of $100 per Senior Note), plus interest through the date of redemption.
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