American Electric Power Company, Inc. (AEP), headquartered in Columbus, Ohio, generates, transmits, and distributes electricity for sale to retail and wholesale customers. Valued at $47.94 billion by market cap, the company serves nearly 5.6 million customers in 11 states and produces about 29,000 MW of diverse generating capacity, with more than 6,000 MW of renewable energy. The leading electric utility is expected to announce its fiscal second-quarter earnings for 2024 before the market opens on Tuesday, Jul. 30.
Ahead of the event, analysts expect AEP to report a profit of $1.25 per share on a diluted basis, up 10.6% from $1.13 per share in the year-ago quarter. The company missed the consensus estimates in three of the last four quarters while beating the forecast on another occasion. During the previous quarter, AEP completed the sale of its 50% interest in New Mexico Renewable Development, LLC (NMRD) to Exus North America Holdings, LLC (Exus).
