American Electric Power Company, Inc. (NASDAQ:AEP) on Wednesday posted stronger-than-expected second-quarter results and raised its full-year GAAP earnings guidance, citing customer load growth, favorable regulatory outcomes, and capital strength across key service territories.
The Ohio-based utility reported adjusted earnings of $1.43 per share, up from $1.25 a year ago and above the Street estimate of $1.23. Revenue rose 11.1% year-over-year to $5.09 billion, ahead of the $4.84 billion analyst consensus.
