U.S. Markets closed

AEP beats 4Q profit forecasts

COLUMBUS, Ohio (AP) _ American Electric Power Co. (AEP) on Thursday reported fourth-quarter profit of $373.4 million.

The Columbus, Ohio-based company said it had profit of 76 cents per share. Earnings, adjusted for non-recurring gains, were 67 cents per share.

The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 55 cents per share.

The utility posted revenue of $3.8 billion in the period.

For the year, the company reported profit of $610.9 million, or $1.24 per share. Revenue was reported as $16.4 billion.

AEP expects full-year earnings in the range of $3.55 to $3.75 per share.

AEP shares have decreased roughly 1 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed nearly 3 percent. The stock has risen slightly more than 8 percent in the last 12 months.


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


Keywords: American Electric Power, Earnings Report