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COLUMBUS, Ohio -On Thursday American Electric Power (NASDAQ:AEP) reported fourth-quarter earnings that narrowly missed analyst estimates, while reaffirming its full-year 2025 guidance.
AEP shares edged down -0.32% in pre-market trading following the earnings release.
The utility company posted adjusted earnings per share of $1.24 for Q4 2024, falling short of the $1.25 consensus estimate. Revenue came in at $4.69 billion, below expectations of $4.87 billion but up 2.6% year-over-year.
For the full year 2024, AEP reported adjusted EPS of $5.62, a 7% increase from $5.25 in 2023.
"AEP is delivering on our commitment to provide safe, reliable and affordable power for the customers we serve," said Bill Fehrman, AEP president and CEO. "In 2024, we experienced significant load growth in our commercial class, largely due to economic development in Indiana, Ohio and Texas."
The company reaffirmed its 2025 operating earnings guidance range of $5.75 to $5.95 per share, in line with the $5.88 analyst consensus.
AEP highlighted its $54 billion, five-year capital plan to support infrastructure needs and load growth. The company is also evaluating an additional $10 billion of potential incremental investment across its service territory.
Trevor Mihalik, AEP Executive VP and CFO, noted the recent $2.82 billion minority equity interest transaction for Ohio and Indiana Michigan Transmission Companies provides "financial flexibility to redeploy the proceeds and support economic growth in our states."
The company expects to close the transaction in the second half of 2025.
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