American Electric Power (NYSE: AEP) came out with quarterly earnings of $1.25 per share, beating the Zacks Consensus Estimate of $1.23 per share. This compares to earnings of $1.13 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 1.63%. A quarter ago, it was expected that this utility would post earnings of $1.30 per share when it actually produced earnings of $1.27, delivering a surprise of -2.31%.
Over the last four quarters, the company has surpassed consensus EPS estimates two times.
AEP, which belongs to the Zacks Utility – Electric Power industry, posted revenues of $4.58 billion for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 0.94%. This compares to year-ago revenues of $4.37 billion. The company has topped consensus revenue estimates just once over the last four quarters.
The sustainability of the stock’s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management’s commentary on the earnings call.
AEP shares have added …