Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Nyse  >  American Electric Power Company Inc    AEP

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

American Electric Power Company, Inc. : AEP 1Q Profit Rises On Strong Industrial Demand; View Uncertain

share with twitter share with LinkedIn share with facebook
share via e-mail
0
04/20/2012 | 01:45pm CET

American Electric Power Inc.'s (AEP) first-quarter earnings rose 10%, helped by a continuing rise in demand from U.S. manufacturers.

"Our ongoing earnings for the quarter were in line with results from first-quarter last year despite record-setting mild winter weather in the regions that we serve," said Chief Executive Nicholas K. Akins. "We continue to see growth in industrial demand."

But for the year, the company didn't reaffirm its previous downbeat outlook of $3.05 to $3.25 a share, citing uncertainties related to its Ohio business. AEP had previously warned that this year's results would be weighed down by its operations in Ohio, as that state deregulates its electricity market and customers switch to other utilities. AEP plans to separate its Ohio business from the rest of its company.

AEP, one of the largest U.S. electric utilities, has seen growth in recent quarters, mostly from industrial demand, but the industry faces a considerable climb to pre-recession levels. Earlier this month, it said it would form a joint venture with Great Plains Energy Inc. (GXP) to build $466 million in transmission projects, in an effort to take advantage of an increasingly attractive market in shipping electricity from one part of the country to another.

American Electric Power reported a profit of $389 million, or 80 cents a share, up from $353 million, or 73 cents a share, a year earlier. Excluding previous-quarter litigation costs and other items, earnings from ongoing operations were down from 82 cents.

Revenue was down 2.7% to $3.6 billion

Analysts polled by Thomson Reuters recently forecast earnings of 79 cents on revenue of $3.73 billion.

Earnings from ongoing operations at its utilities segment were down 1.5% to $383 million.

Profit from transmission operations surged to $9 million, compared with $4 million a year earlier. Earnings from AEP River operations improved 29% to $9 million.

Its generating and marketing business, which includes non regulated power operations that sell electricity at market rates and its energy trading activities, swung to a loss of $1 million, compared with a profit of $1 million a year earlier.

Wholesale volume was down 2.6%. Retail electricity volume fell 5.1%.

Shares closed Thursday at $37.89 and were inactive premarket. The stock is down 8.3% so far this year.

 
   -By Kristin Jones; Dow Jones Newswires; 212-416-2208; kristin.jones@dowjones.com 

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on AMERICAN ELECTRIC POWER CO
11/28 AMERICAN ELECTRIC POWER : AEP Ohio Files to Extend Electric Security Plan
11/16 AMERICAN ELECTRIC POWER : Kentucky Power Ramps Up Efforts to Protect Customers f..
11/16 AMERICAN ELECTRIC POWER : AEP Ohio Schedules Second Open House to Discuss Electr..
11/15 AMERICAN ELECTRIC POWER : AEP names Satterwhite President of Kentucky Power
11/15 AMERICAN ELECTRIC POWER : AEP Texas Ramps Up Efforts to Protect Customers from U..
11/14DJAMERICAN ELECTRIC POWER : Cheap Gas Tests Trump's Promise to Revive Coal
11/14DJCorrection to Cheap Gas Story
11/09 AMERICAN ELECTRIC POWER COMPANY INC. : (AEP) Falls 3.13% for November 09
11/09 AMERICAN ELECTRIC POWER : AEP Names Satterwhite President of Kentucky Power
11/08 AMERICAN ELECTRIC POWER COMPANY INC : ex-dividend day
More news
Sector news : Electric Utilities - NEC
12/02DJOrigin Energy's New CEO Makes Changes to Leadership Team
11/25DJDOMINION RESOURCES : Saudi Arabia to Skip Meeting With Non-OPEC Producers
11/24 FROM BOOKS TO BANKS : Investors place bets against Italy meltdown
11/23 DRAX : Britain maintains carbon tax freeze until April 2021
11/21DJTsunami Alerts Lifted After Japan Earthquake
More sector news : Electric Utilities - NEC
News from SeekingAlpha
11/29 A YEAR IN REVIEW : Integer Investments
11/29 No Stopping The Rally? Cramer's Mad Money (11/28/16)
11/22 Post-Election Losers
11/22 6 Worthy Dividend Stocks Down 10% Or More
11/22 Chevron Is A Buy - Cramer's Lightning Round (11/21/16)
Advertisement
Financials ($)
Sales 2016 16 312 M
EBIT 2016 3 198 M
Net income 2016 1 851 M
Debt 2016 18 344 M
Yield 2016 3,91%
P/E ratio 2016 15,58
P/E ratio 2017 15,62
EV / Sales 2016 2,88x
EV / Sales 2017 3,00x
Capitalization 28 598 M
More Financials
Chart AMERICAN ELECTRIC POWER CO
Duration : Period :
American Electric Power Co Technical Analysis Chart | AEP | US0255371017 | 4-Traders
Full-screen chart
Technical analysis trends AMERICAN ELECTRIC...
Short TermMid-TermLong Term
TrendsBearishBearishNeutral
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 21
Average target price 67,0 $
Spread / Average Target 15%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Nicholas K. Akins Chairman, President & Chief Executive Officer
Robert P. Powers Chief Operating Officer & Executive Vice President
Brian X. Tierney Chief Financial Officer & Executive Vice President
Alberto G. Ruocco Chief Information Officer & Vice President
Lionel L. Nowell Independent Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
AMERICAN ELECTRIC POWE..1.34%28 598
DUKE ENERGY CORP3.33%50 120
SOUTHERN CO-0.43%45 658
DOMINION RESOURCES, IN..8.35%45 596
IBERDROLA SA-14.52%38 041
EXELON CORPORATION15.84%29 702
More Results