American Electric Power (AEP) Tops Q2 Earnings Estimate
American Electric Power Co., Inc. AEP is one of the largest integrated utilities in the U.S. with a market cap of $33.83 billion.
Although the company aims to gradually reduce its dependence on coal, it will remain mostly a coal-fired power generator for many years to come.
American Electric Power has a stable earnings base of more than 5.4 million customers spread over 11 states.
Surprise History
Investors should note that American Electric Power has surpassed the Zacks Consensus Estimate in two out of last four quarters, resulting in a positive average surprise of 1.72%.
Zacks Rank: Currently, American Electric Power has a Zacks Rank #3 (Hold). However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. We have mentioned below some of the vital information from this just-revealed announcement:
Earnings: American Electric Power reported second-quarter 2016 earnings of 95 cents per share, beating the Zacks Consensus Estimate of 90 cents per share.
Revenue: The company’s revenues of $3.9 billion for the second quarter missed the consensus estimate of $3.95 billion.
Key Stats: American Electric Power reiterated its 2016 operating earnings guidance range of $3.60 to $3.80 per share.
Check back later for our full write up on this American Electric Power earnings report later!
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