{"success":true,"data":{"pressRelease":{"id":"20631","rtpr_id":"nPn3lCGkZa","ticker":"AEP","exchange":"NASDAQ","all_tickers":["AEP"],"title":"AEP Reports First-Quarter 2026 Earnings, Reaffirms Guidance and Increases Five-Year Capital Plan","author":"PR Newswire","published_at":"2026-05-05T10:57:00.093Z","article_body":"AEP Reports First-Quarter 2026 Earnings, Reaffirms Guidance and Increases Five-Year Capital Plan\n\nPR Newswire\n\nCOLUMBUS, Ohio, May 5, 2026\n\n * First-quarter 2026 GAAP earnings of $1.61 per share; operating earnings of\n$1.64 per share\n * AEP reaffirms full-year 2026 operating earnings guidance of $6.15 to $6.45 per\nshare\n * New load additions expand to 63 gigawatts by 2030\n * Cost offsets for existing customers of up to $16 billion driven by signed\ncustomer agreements\n * Accelerating demand drives five-year capital plan to $78 billion, with line of\nsight to over $10 billion in additional investment anticipated\n * New capital plan additions of $6 billion raise the expected operating earnings\nCAGR to greater than 9% through 2030\nCOLUMBUS, Ohio, May 5, 2026 /PRNewswire/ -- American Electric Power (Nasdaq:\nAEP) today reported first-quarter 2026 GAAP earnings of $874 million or $1.61\nper share, compared with GAAP earnings of $800 million or $1.50 per share in\nfirst-quarter 2025. Operating earnings for first-quarter 2026 were $891\nmillion or $1.64 per share, compared with operating earnings of $823 million\nor $1.54 per share in first-quarter 2025. See the detailed GAAP to operating\nearnings reconciliation at the end of this press release. AEP reaffirms its\n2026 operating earnings guidance of $6.15 to $6.45 per share and its annual\noperating earnings growth rate of 7% to 9% through 2030, with an expected\noperating earnings compound annual growth rate (CAGR) of greater than 9%.\n\nStrong Demand Growth Drives Additional Capital Investment\n\nThis quarter's results reflect continued disciplined execution and strong\ndemand growth across AEP's service territory. Following 7 gigawatts (GW) of\nnew load agreements signed during the first quarter, primarily in Ohio and\nTexas, AEP's incremental load is expected to grow to 63 GW by 2030. The new\nload is backed by signed agreements with well-capitalized industrial\ncustomers, hyperscalers and data center developers.\n\nGrowth in AEP Texas accounts for 41 GW of new load commitments. The rollout of\nTexas Senate Bill 6 this summer is expected to enhance certainty around\ninterconnection timing for the incremental load growth. AEP is committed to\nbuilding the necessary transmission and distribution infrastructure in Texas;\nhowever, timing is highly dependent on the needed generation to support the\nload, which is supplied by others.\n\nAEP continues to experience robust system demand in key growth states\nincluding Indiana, Ohio, Oklahoma and Texas. To support this continued growth,\nAEP increased its five-year capital plan to $78 billion, up from $72 billion,\ndriven by newly approved transmission investments in PJM and SPP and new\nnatural gas-fired generation in Indiana that are expected to come online later\nin the five-year period ending in 2030. AEP expects the expanded capital plan\nto generate nearly 11% annual rate-base growth and an operating earnings CAGR\nabove 9% through 2030.\n\nAEP has additional significant transmission and generation project\nopportunities beyond the new $78 billion capital plan. This includes line of\nsight to over $10 billion in investment potential through Ohio's Piketon\ntransmission project, the fuel cell installation in Wyoming and additional\ngeneration in many of the states AEP serves. When the capital plan is updated\nin the third quarter to include 2031 opportunities, it is expected to capture\naccelerating demand growth and incorporate incremental, long–term\ninvestments.\n\n\"AEP is executing on our strategic plan at an exceptionally high level during\na time of unprecedented opportunity for our industry while keeping an intense\nfocus on affordability,\" said Bill Fehrman, AEP chairman, president and chief\nexecutive officer. \"We are seeing substantial demand growth across our\nfootprint, particularly from data centers and other large load customers. We\nare intensely focused on delivering reliability and long-term value for our\ncustomers and stakeholders.\"\n\nTransmission Growth Continues to Accelerate\n\nAEP's transmission network remains a key competitive advantage and is the\nlargest in the United States. The company owns and operates more than 2,100\nmiles of 765-kilovolt (kV) transmission lines and brings more than 60 years of\nexperience designing, building and operating ultra-high-voltage\ninfrastructure.\n\nDuring the first quarter, AEP was awarded new 765-kV transmission projects\nacross SPP and PJM. Total transmission investment is now expected to be $33\nbillion, representing 42% of the five-year capital plan.\n\nIn SPP, AEP plans to build 315 miles of 765-kV lines and additional projects\nin Oklahoma and Louisiana. In PJM, AEP subsidiaries were awarded the\nconstruction of approximately 330 miles of predominantly 765-kV lines in Ohio\nand Indiana. AEP was also selected for a nearly 200-mile 765-kV project in\nMISO, expanding the company's competitive footprint into Wisconsin.\n\nAffordability and Regulatory Progress\n\nAs load growth increases, AEP remains focused on maintaining affordability for\nresidential customers. The company expects up to $16 billion in cost offsets\nfor existing customers realized over the life of the large load contracts.\n\nAEP also continues to leverage federal tools including grants and loan\nguarantees to benefit customers. These loans and grants provide meaningful\nrelief to customers, saving nearly $600 million and supporting efforts to\nstrengthen the electric grid.\n\nDuring the quarter, AEP's operating companies in Indiana, Ohio, Texas and West\nVirginia exemplified continued positive regulatory progress through productive\ncommission orders and regulatory filings.\n\n\"We understand that affordability is a key concern for customers and\npolicymakers, and AEP is committed to finding creative solutions that address\nthose concerns while helping our customers leverage cost savings tools. AEP's\nscale, integrated approach and execution capabilities position us to lead\nduring this period of transformational growth,\" Fehrman said. \"We are helping\nto build the nation's energy backbone while creating opportunities for\ncustomers and communities we serve while delivering long-term value for all of\nour stakeholders.\"\n AMERICAN ELECTRIC POWER\n Preliminary, unaudited results\n\n First Quarter Ended March 31\n 2025 2026 Variance\n Revenue ($ in millions): 5,463 6,020 557\n Earnings ($ in millions):\n GAAP 800 874 74\n Operating (non-GAAP) 823 891 68\n\n EPS ($): (a)\n GAAP 1.50 1.61 0.11\n Operating (non-GAAP) 1.54 1.64 0.10\n\n (a) EPS is calculated using the weighted average basic common shares\n outstanding of\n million and 542 million for the quarters ended March 31, 2025 and\n 2026, respectively\n\n \n SUMMARY OF RESULTS BY SEGMENT\n $ in millions, unaudited\n\n GAAP Earnings 1Q 25 1Q 26 Variance\n Vertically Integrated Utilities (a) 324 462 138\n Transmission & Distribution Utilities (b) 165 237 72\n\n AEP Transmission Holdco (c) 235 209 (26)\n Generation & Marketing (d) 102 75 (27)\n All Other (26) (109) (83)\n Total GAAP Earnings 800 874 74\n\n Operating Earnings (non-GAAP) 1Q 25 1Q 26 Variance\n Vertically Integrated Utilities (a) 350 464 114\n Transmission & Distribution Utilities (b) 192 237 45\n AEP Transmission Holdco (c) 235 209 (26)\n Generation & Marketing (d) 76 90 14\n All Other (30) (109) (79)\n Total Operating Earnings (non-GAAP) 823 891 68\n\n A full reconciliation of GAAP earnings to operating earnings is included in\n tables at the end of this news release.\n\n (a) Includes AEP Generating Co., Appalachian Power, Indiana Michigan Power,\n Kentucky Power, Kingsport Power, Public Service Company of Oklahoma,\n Southwestern Electric Power Company and Wheeling Power\n (b) Includes AEP Ohio and AEP Texas\n (c) Includes transmission-only subsidiaries and transmission-only joint ventures\n (d) Includes marketing, risk management and retail activities in ERCOT, MISO, PJM\n and SPP, and competitive generation in PJM\n\nEARNINGS GUIDANCE\n\nAEP management reaffirms its 2026 operating earnings guidance range of $6.15\nto $6.45 per share. Operating earnings, which could differ from earnings\nreported in accordance with GAAP, exclude certain gains and losses and other\nspecified items, including mark-to-market adjustments from commodity hedging\nactivities and other items as set forth in the reconciliation below, that\nmanagement believes are not indicative of AEP's ongoing performance. AEP\nmanagement is not able to forecast if any of these items will occur or any\namounts that may be reported for future periods. Therefore, AEP is not able to\nprovide a corresponding GAAP equivalent for earnings guidance.\n\nReflecting certain items recorded through the first quarter, the estimated\nearnings per share on a GAAP basis would be $6.12 to $6.42 per share. See the\ntable below for a full reconciliation of 2026 earnings guidance.\n 2026 EPS Guidance Reconciliation\n\n Estimated GAAP EPS Guidance $6.12 to $6.42\n Mark-to-Market Impact of Commodity Hedging Activities 0.05\n Impact of WVPSC Order (0.07)\n Pirkey Plant Disallowance 0.06\n Income Tax Effect of Adjustments (0.01)\n Operating EPS Guidance $6.15 to $6.45\n\nWEBCAST\n\nAEP's quarterly discussion with financial analysts and investors will be\nbroadcast live over the internet at 9 a.m. Eastern today at\nhttp://www.aep.com/webcasts\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4680123-1&h=1879005483&u=http%3A%2F%2Fwww.aep.com%2Fwebcasts&a=http%3A%2F%2Fwww.aep.com%2Fwebcasts)\n. The webcast will include audio of the discussion and visuals of charts and\ngraphics referred to by AEP management. The charts and graphics will be\navailable for download at http://www.aep.com/webcasts\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4680123-1&h=1879005483&u=http%3A%2F%2Fwww.aep.com%2Fwebcasts&a=http%3A%2F%2Fwww.aep.com%2Fwebcasts)\n.\n\nAEP reports its financial results in accordance with GAAP. AEP supplements its\nreporting of financial information with certain non-GAAP financial measures,\nsuch as operating earnings and operating earnings per share. The most\ncomparable GAAP measure to operating earnings and operating earnings per share\nis GAAP earnings and GAAP earnings per share, respectively.\n\nThis information is intended to enhance an investor's overall understanding of\nperiod over period financial results and provide an indication of AEP's\nbaseline operating performance by excluding items that are considered by\nmanagement to be not directly related to the ongoing operations of the\nbusiness. In addition, this information is among the primary indicators\nmanagement uses as a basis for evaluating performance, allocating resources,\nsetting incentive compensation targets and planning and forecasting of future\nperiods. These non-GAAP financial measures are not a presentation defined\nunder GAAP and may not be comparable to other companies' presentations. These\nnon-GAAP measures should not be deemed more useful than, a substitute for, or\nan alternative to the most comparable GAAP measures.\n\nABOUT AEP\n\nAmerican Electric Power (Nasdaq: AEP) is committed to improving our customers'\nlives with reliable, affordable power. We plan to invest $78 billion from 2026\nthrough 2030 to enhance service for customers and support the growing energy\nneeds of our communities. Our nearly 18,000 employees operate and maintain the\nnation's largest electric transmission system with 40,000 line miles, along\nwith more than 252,000 miles of distribution lines to deliver energy to 5.6\nmillion customers in 11 states. AEP also is one of the nation's largest\nelectricity producers with approximately 32,000 megawatts of diverse owned and\ncontracted generating capacity. We are focused on safety and operational\nexcellence, creating value for our stakeholders and bringing opportunity to\nour service territory through economic development and community engagement.\nOur family of companies includes AEP Ohio, AEP Texas, Appalachian Power (in\nVirginia, West Virginia and Tennessee), Indiana Michigan Power, Kentucky\nPower, Public Service Company of Oklahoma, and Southwestern Electric Power\nCompany (in Arkansas, Louisiana, east Texas and the Texas Panhandle). AEP also\nowns AEP Energy, which provides innovative competitive energy solutions\nnationwide. AEP is headquartered in Columbus, Ohio. For more information,\nvisit aep.com.\n\nWEBSITE DISCLOSURE\n\nAEP may use its website as a distribution channel for material company\ninformation. Financial and other important information regarding AEP is\nroutinely posted on and accessible through AEP's website at\nhttps://www.aep.com/investors/\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4680123-1&h=2261011570&u=https%3A%2F%2Fwww.aep.com%2Finvestors%2F&a=https%3A%2F%2Fwww.aep.com%2Finvestors%2F)\n. In addition, you may automatically receive email alerts and other\ninformation about AEP when you enroll your email address by visiting the\n\"Email Alerts\" section at https://www.aep.com/investors/\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4680123-1&h=2261011570&u=https%3A%2F%2Fwww.aep.com%2Finvestors%2F&a=https%3A%2F%2Fwww.aep.com%2Finvestors%2F)\n.\n\nFORWARD-LOOKING INFORMATION\n\nThis report made by the Registrants contains forward-looking statements, and\nfor the Registrants other than Parent, this report contains forward looking\nstatements within the meaning of Section 21E of the Securities Exchange Act of\n1934. These matters are subject to risks and uncertainties that could cause\nactual results to differ materially from those projected. Forward-looking\nstatements in this document are presented as of the date of this document.\nExcept to the extent required by applicable law, management undertakes no\nobligation to update or revise any forward-looking statement. Among the\nfactors that could cause actual results to differ materially from those in the\nforward-looking statements are: changes in economic conditions, electric\nmarket demand and demographic patterns in AEP's service territory; the\neconomic impact of increased global conflicts and trade tensions, and the\nadoption or expansion of economic sanctions, tariffs, trade restrictions or\nchanges in trade policy; inflationary or deflationary interest rate trends;\nnew legislation or regulations adopted in the states in which we operate or\nfederal legislation or regulations adopted that alters the regulatory\nframework or that prevents the timely recovery of costs and investments;\nvolatility and disruptions in financial markets precipitated by any cause,\nincluding fiscal and monetary policy or instability in the banking industry;\nparticularly developments affecting the availability or cost of capital to\nfinance new capital projects and refinance existing debt; the availability and\ncost of funds to finance working capital and capital needs, particularly (a)\nif expected sources of capital such as proceeds from the sale of tax credits\nand anticipated securitizations do not materialize or do not materialize at\nthe level anticipated, and (b) during periods when the time lag between\nincurring costs and recovery is long and the costs are material; changing\ndemand for electricity, including large load contractual commitments; the\nrisks and uncertainties associated with wildfires, including damages caused by\nwildfires, the extent of each Registrant's liability in connection with\nwildfires, investigations and outcomes associated with legal proceedings,\ndemands or similar actions, inability to recover wildfire costs through\ninsurance or through rates and the impact on financial condition and the\nreputation of each Registrant; the impact of extreme weather conditions,\nnatural disasters and catastrophic events such as storms, hurricanes,\nwildfires and drought conditions that pose significant risks including\npotential litigation and the inability to recover significant damages and\nrestoration costs incurred; limitations or restrictions on the amounts and\ntypes of insurance available to cover losses that might arise in connection\nwith natural disasters, wildfires or operations; the cost of fuel and its\ntransportation, the creditworthiness and performance of parties who supply and\ntransport fuel and the cost of storing and disposing of used fuel, including\ncoal ash and SNF; the availability of fuel and necessary generation capacity\nand the performance of generation plants; the ability to recover fuel and\nother energy costs through regulated or competitive electric rates; the\nability to plan for, develop, construct, acquire, or integrate a broad range\nof generation and energy storage resources, as well as related transmission\nand distribution infrastructure, including obtaining necessary regulatory\napprovals, permits, and incentives; complying with cost caps and other\nregulatory or contractual requirements; and recovering associated costs and\nearning an appropriate return while meeting reliability, affordability,\nenvironmental, and customer–service obligations; the disruption of AEP's\nbusiness operations due to impacts of economic or market conditions, costs of\ncompliance with potential government regulations, electricity usage, supply\nchain issues, customers, service providers, vendors and suppliers caused by\nnatural disasters or other events; construction and development risks\nassociated with the completion of the 2026-2030 capital investment plan,\nincluding shortages or delays in labor, materials, equipment or parts;\nprolonged or recurring U.S. federal government shutdowns could adversely\naffect AEP's operations, regulatory approvals, financial performance and could\ncause volatility in the capital markets which may interrupt our access to\ncapital; new legislation, litigation or government regulation, including\nchanges to tax laws and regulations, oversight of nuclear generation, evolving\nenvironmental standards, energy commodity trading and new or modified\nrequirements related to emissions of sulfur, nitrogen, mercury, carbon, soot\nor PM and other substances that could impact the continued operation, cost\nrecovery and/or profitability of generation plants and related assets; the\nimpact of tax legislation or associated Department of Treasury guidance,\nincluding potential changes to existing tax incentives, on capital plans,\nresults of operations, financial condition, cash flows or credit ratings; the\nrisks before, during and after generation of electricity associated with the\nfuels used or the by-products and wastes of such fuels, including coal ash and\nSNF; timing and resolution of pending and future rate cases, negotiations and\nother regulatory decisions, including rate or other recovery of new\ninvestments in generation, distribution and transmission service and\nenvironmental compliance; resolution of litigation or regulatory proceedings\nor investigations; the ability to efficiently manage and recover operation,\nmaintenance and development project costs; prices and demand for power\ngenerated and sold in wholesale markets; changes in technology, including new,\ndeveloping, alternative or distributed sources of generation and energy\nstorage; the ability to recover through rates any remaining unrecovered\ninvestment in generation units that may be retired before the end of their\npreviously projected useful lives; volatility and changes in markets for coal\nand other energy-related commodities, particularly changes in the price of\nnatural gas; the impact of changing expectations and demands of customers,\nregulators, investors and stakeholders, including development, adoption, and\nuse of AI by us, our customers and our third party vendors and evolving\nexpectations related to sustainability; customer affordability considerations\nmay impact regulatory recovery outcomes and future rate design; changes in\nutility regulation, policies, methodologies for evaluating and approving load\ninterconnection, and the allocation of costs within RTOs including ERCOT, PJM\nand SPP and the impacts of potential market changes within those RTOs; changes\nin the creditworthiness of the counterparties with contractual arrangements,\nincluding participants in the energy trading market; actions of rating\nagencies, including changes in ratings impacting the cost of debt;\ngeopolitical developments continue to create uncertainty in global energy\nmarkets and have contributed to increased volatility in fuel supply and\npricing. Shifts in global market conditions and broader supply-chain pressures\nmay influence natural gas prices, power-generation economics and customer\ndemand patterns; the impact of volatility in the capital markets on the value\nof the investments held by the pension, OPEB and nuclear decommissioning\ntrust funds and a captive insurance entity and the impact of such volatility\non future funding requirements; accounting standards periodically issued by\naccounting standard-setting bodies; the ability to successfully defend against\ncybersecurity threats; other risks and unforeseen events, including wars and\nmilitary conflicts, the effects of terrorism (including increased security\ncosts), embargoes, labor strikes impacting material supply chains, global\ninformation technology disruptions and other catastrophic events; the ability\nto attract and retain the requisite work force and key personnel, including\nsenior management.\n American Electric Power\n Financial Results for the First Quarter of 2026\n Reconciliation of GAAP to Operating Earnings (non-GAAP)\n\n 2026\n Vertically Transmission AEP Generation Corporate Total EPS (a)\n Integrated & Distribution Transmission & and Other\n Utilities Utilities Holdco Marketing\n ($ in millions, unaudited)\n\n GAAP Earnings (Loss) (b) 462 237 209 75 (109) 874 $ 1.61\n\n Adjustments to GAAP Earnings\n Mark-to-Market Impact of Commodity (c) 7 — — 19 — 26 0.05\n Hedging Activities\n Impact of WVPSC Order (d) (35) — — — — (35) (0.07)\n Pirkey Plant Disallowance (e) 31 — — — — 31 0.06\n Income Tax Effect of Adjustments (f) (1) — — (4) — (5) (0.01)\n Total Adjustments 2 — — 15 — 17 $ 0.03\n\n Operating Earnings (Loss) 464 237 209 90 (109) 891 $ 1.64\n (non-GAAP)\n\n (a) EPS is calculated using the weighted average basic common shares outstanding\n (b) Represents the earnings (loss) attributable to common shareholders\n (c) Represents the mark–to–market impact of economic hedging activities which\n are excluded to align with the recognition of the underlying hedged exposures\n (d) Represents the impact of the WVPSC order related to the 2024 Modified Rate\n Base Cost surcharge update filing. These amounts represent the deferral of\n costs incurred in prior periods and are not indicative of the Company's\n baseline operating performance in the current year\n (e) Represents the impact of the probable partial disallowance of the Pirkey Plant\n net book value in the 2025 Texas Base Rate Case. This disallowance is related\n to expectations related to the outcome of a pending case and is not indicative\n of the Company's baseline operating performance in the current year\n (f) Tax effect is calculated using the statutory tax rate unless otherwise noted\n\n \n Financial Results for the First Quarter of 2025\n Reconciliation of GAAP to Operating Earnings (non-GAAP)\n\n 2025\n Vertically Transmission AEP Generation Corporate Total EPS (a)\n Integrated & Distribution Transmission & and Other\n Utilities Utilities Holdco Marketing\n ($ in millions, unaudited)\n\n GAAP Earnings (Loss) (b) 324 165 235 102 (26) 800 $ 1.50\n\n Adjustments to GAAP Earnings (c)\n Mark-to-Market Impact of Commodity (d) 26 — — (40) — (14) (0.03)\n Hedging Activities\n Sale of AEP Onsite Partners (e) — — — 14 (4) 10 0.02\n Impact of Ohio Legislation (f) — 27 — — — 27 0.05\n Total Adjustments 26 27 — (26) (4) 23 $ 0.04\n\n Operating Earnings (Loss) 350 192 235 76 (30) 823 $ 1.54\n (non-GAAP)\n\n (a) EPS is calculated using the weighted average basic common shares outstanding\n (b) Represents the earnings (loss) attributable to common shareholders\n (c) Excluding tax related adjustments, all items presented in the table are tax\n adjusted at the statutory rate unless otherwise noted\n (d) Represents the mark–to–market impact of economic hedging activities which\n are excluded to align with the recognition of the underlying hedged exposures\n (e) Represents an adjustment to the estimated loss on sale of AEP OnSite Partners\n as a result of the contractual working capital true-up\n (f) Represents the estimated reduction in regulatory assets for OVEC-related\n purchased power costs as a result of approved legislation in Ohio\n\n \n American Electric Power\n Summary of Selected Sales Data\n Regulated Connected Load\n (Data based on preliminary, unaudited results)\n\n Three Months Ended March 31\n ENERGY & DELIVERY SUMMARY 2025 2026 Variance\n (in millions of KWh)\n Vertically Integrated Utilities\n Retail:\n Residential 9,404 8,873 (5.6) %\n Commercial 5,896 6,827 15.8 %\n Industrial 8,101 7,998 (1.3) %\n Miscellaneous 533 534 0.2 %\n Total Retail 23,934 24,232 1.2 %\n\n Wholesale (a) 4,791 3,545 (26.0) %\n\n Total KWhs 28,725 27,777 (3.3) %\n\n Transmission & Distribution Utilities\n Retail:\n Residential 7,011 6,532 (6.8) %\n Commercial 9,588 12,777 33.3 %\n Industrial 6,756 6,872 1.7 %\n Miscellaneous 172 166 (3.5) %\n Total Retail (b) 23,527 26,347 12.0 %\n\n Wholesale (c) 667 643 (3.6) %\n\n Total KWhs 24,194 26,990 11.6 %\n\n (a) Includes off-system sales, municipalities and cooperatives, unit power and\n other wholesale customers\n (b) Represents energy delivered to distribution customers\n (c) Primarily Ohio's contractually obligated purchases of OVEC power sold to PJM\n\n \n\n(https://mma.prnewswire.com/media/476288/American_Electric_Power_Logo.html)\n\n \n\nView original content to download\nmultimedia:https://www.prnewswire.com/news-releases/aep-reports-first-quarter-2026-earnings-reaffirms-guidance-and-increases-five-year-capital-plan-302762002.html\n(https://www.prnewswire.com/news-releases/aep-reports-first-quarter-2026-earnings-reaffirms-guidance-and-increases-five-year-capital-plan-302762002.html)\n\nSOURCE American Electric Power\n\n\n\nMEDIA CONTACT: Scott Blake, Director, Media Relations, 614/716-1938; ANALYSTS CONTACT: Darcy Reese, Vice President, Investor Relations, 614/716-2614\n\nPhoto: \nhttps://mma.prnewswire.com/media/476288/American_Electric_Power_Logo.jpg\n\nCopyright (c) 2026 PR Newswire Association,LLC. All Rights Reserved.","article_body_html":"","raw_payload":{"data":{"id":"nPn3lCGkZa","title":"AEP Reports First-Quarter 2026 Earnings, Reaffirms Guidance and Increases Five-Year Capital Plan","author":"PR Newswire","ticker":"AEP","created":"2026-05-05T10:57:00.093Z","tickers":["AEP"],"exchange":"NASDAQ","article_body":"AEP Reports First-Quarter 2026 Earnings, Reaffirms Guidance and Increases Five-Year Capital Plan\n\nPR Newswire\n\nCOLUMBUS, Ohio, May 5, 2026\n\n * First-quarter 2026 GAAP earnings of $1.61 per share; operating earnings of\n$1.64 per share\n * AEP reaffirms full-year 2026 operating earnings guidance of $6.15 to $6.45 per\nshare\n * New load additions expand to 63 gigawatts by 2030\n * Cost offsets for existing customers of up to $16 billion driven by signed\ncustomer agreements\n * Accelerating demand drives five-year capital plan to $78 billion, with line of\nsight to over $10 billion in additional investment anticipated\n * New capital plan additions of $6 billion raise the expected operating earnings\nCAGR to greater than 9% through 2030\nCOLUMBUS, Ohio, May 5, 2026 /PRNewswire/ -- American Electric Power (Nasdaq:\nAEP) today reported first-quarter 2026 GAAP earnings of $874 million or $1.61\nper share, compared with GAAP earnings of $800 million or $1.50 per share in\nfirst-quarter 2025. Operating earnings for first-quarter 2026 were $891\nmillion or $1.64 per share, compared with operating earnings of $823 million\nor $1.54 per share in first-quarter 2025. See the detailed GAAP to operating\nearnings reconciliation at the end of this press release. AEP reaffirms its\n2026 operating earnings guidance of $6.15 to $6.45 per share and its annual\noperating earnings growth rate of 7% to 9% through 2030, with an expected\noperating earnings compound annual growth rate (CAGR) of greater than 9%.\n\nStrong Demand Growth Drives Additional Capital Investment\n\nThis quarter's results reflect continued disciplined execution and strong\ndemand growth across AEP's service territory. Following 7 gigawatts (GW) of\nnew load agreements signed during the first quarter, primarily in Ohio and\nTexas, AEP's incremental load is expected to grow to 63 GW by 2030. The new\nload is backed by signed agreements with well-capitalized industrial\ncustomers, hyperscalers and data center developers.\n\nGrowth in AEP Texas accounts for 41 GW of new load commitments. The rollout of\nTexas Senate Bill 6 this summer is expected to enhance certainty around\ninterconnection timing for the incremental load growth. AEP is committed to\nbuilding the necessary transmission and distribution infrastructure in Texas;\nhowever, timing is highly dependent on the needed generation to support the\nload, which is supplied by others.\n\nAEP continues to experience robust system demand in key growth states\nincluding Indiana, Ohio, Oklahoma and Texas. To support this continued growth,\nAEP increased its five-year capital plan to $78 billion, up from $72 billion,\ndriven by newly approved transmission investments in PJM and SPP and new\nnatural gas-fired generation in Indiana that are expected to come online later\nin the five-year period ending in 2030. AEP expects the expanded capital plan\nto generate nearly 11% annual rate-base growth and an operating earnings CAGR\nabove 9% through 2030.\n\nAEP has additional significant transmission and generation project\nopportunities beyond the new $78 billion capital plan. This includes line of\nsight to over $10 billion in investment potential through Ohio's Piketon\ntransmission project, the fuel cell installation in Wyoming and additional\ngeneration in many of the states AEP serves. When the capital plan is updated\nin the third quarter to include 2031 opportunities, it is expected to capture\naccelerating demand growth and incorporate incremental, long–term\ninvestments.\n\n\"AEP is executing on our strategic plan at an exceptionally high level during\na time of unprecedented opportunity for our industry while keeping an intense\nfocus on affordability,\" said Bill Fehrman, AEP chairman, president and chief\nexecutive officer. \"We are seeing substantial demand growth across our\nfootprint, particularly from data centers and other large load customers. We\nare intensely focused on delivering reliability and long-term value for our\ncustomers and stakeholders.\"\n\nTransmission Growth Continues to Accelerate\n\nAEP's transmission network remains a key competitive advantage and is the\nlargest in the United States. The company owns and operates more than 2,100\nmiles of 765-kilovolt (kV) transmission lines and brings more than 60 years of\nexperience designing, building and operating ultra-high-voltage\ninfrastructure.\n\nDuring the first quarter, AEP was awarded new 765-kV transmission projects\nacross SPP and PJM. Total transmission investment is now expected to be $33\nbillion, representing 42% of the five-year capital plan.\n\nIn SPP, AEP plans to build 315 miles of 765-kV lines and additional projects\nin Oklahoma and Louisiana. In PJM, AEP subsidiaries were awarded the\nconstruction of approximately 330 miles of predominantly 765-kV lines in Ohio\nand Indiana. AEP was also selected for a nearly 200-mile 765-kV project in\nMISO, expanding the company's competitive footprint into Wisconsin.\n\nAffordability and Regulatory Progress\n\nAs load growth increases, AEP remains focused on maintaining affordability for\nresidential customers. The company expects up to $16 billion in cost offsets\nfor existing customers realized over the life of the large load contracts.\n\nAEP also continues to leverage federal tools including grants and loan\nguarantees to benefit customers. These loans and grants provide meaningful\nrelief to customers, saving nearly $600 million and supporting efforts to\nstrengthen the electric grid.\n\nDuring the quarter, AEP's operating companies in Indiana, Ohio, Texas and West\nVirginia exemplified continued positive regulatory progress through productive\ncommission orders and regulatory filings.\n\n\"We understand that affordability is a key concern for customers and\npolicymakers, and AEP is committed to finding creative solutions that address\nthose concerns while helping our customers leverage cost savings tools. AEP's\nscale, integrated approach and execution capabilities position us to lead\nduring this period of transformational growth,\" Fehrman said. \"We are helping\nto build the nation's energy backbone while creating opportunities for\ncustomers and communities we serve while delivering long-term value for all of\nour stakeholders.\"\n AMERICAN ELECTRIC POWER\n Preliminary, unaudited results\n\n First Quarter Ended March 31\n 2025 2026 Variance\n Revenue ($ in millions): 5,463 6,020 557\n Earnings ($ in millions):\n GAAP 800 874 74\n Operating (non-GAAP) 823 891 68\n\n EPS ($): (a)\n GAAP 1.50 1.61 0.11\n Operating (non-GAAP) 1.54 1.64 0.10\n\n (a) EPS is calculated using the weighted average basic common shares\n outstanding of\n million and 542 million for the quarters ended March 31, 2025 and\n 2026, respectively\n\n \n SUMMARY OF RESULTS BY SEGMENT\n $ in millions, unaudited\n\n GAAP Earnings 1Q 25 1Q 26 Variance\n Vertically Integrated Utilities (a) 324 462 138\n Transmission & Distribution Utilities (b) 165 237 72\n\n AEP Transmission Holdco (c) 235 209 (26)\n Generation & Marketing (d) 102 75 (27)\n All Other (26) (109) (83)\n Total GAAP Earnings 800 874 74\n\n Operating Earnings (non-GAAP) 1Q 25 1Q 26 Variance\n Vertically Integrated Utilities (a) 350 464 114\n Transmission & Distribution Utilities (b) 192 237 45\n AEP Transmission Holdco (c) 235 209 (26)\n Generation & Marketing (d) 76 90 14\n All Other (30) (109) (79)\n Total Operating Earnings (non-GAAP) 823 891 68\n\n A full reconciliation of GAAP earnings to operating earnings is included in\n tables at the end of this news release.\n\n (a) Includes AEP Generating Co., Appalachian Power, Indiana Michigan Power,\n Kentucky Power, Kingsport Power, Public Service Company of Oklahoma,\n Southwestern Electric Power Company and Wheeling Power\n (b) Includes AEP Ohio and AEP Texas\n (c) Includes transmission-only subsidiaries and transmission-only joint ventures\n (d) Includes marketing, risk management and retail activities in ERCOT, MISO, PJM\n and SPP, and competitive generation in PJM\n\nEARNINGS GUIDANCE\n\nAEP management reaffirms its 2026 operating earnings guidance range of $6.15\nto $6.45 per share. Operating earnings, which could differ from earnings\nreported in accordance with GAAP, exclude certain gains and losses and other\nspecified items, including mark-to-market adjustments from commodity hedging\nactivities and other items as set forth in the reconciliation below, that\nmanagement believes are not indicative of AEP's ongoing performance. AEP\nmanagement is not able to forecast if any of these items will occur or any\namounts that may be reported for future periods. Therefore, AEP is not able to\nprovide a corresponding GAAP equivalent for earnings guidance.\n\nReflecting certain items recorded through the first quarter, the estimated\nearnings per share on a GAAP basis would be $6.12 to $6.42 per share. See the\ntable below for a full reconciliation of 2026 earnings guidance.\n 2026 EPS Guidance Reconciliation\n\n Estimated GAAP EPS Guidance $6.12 to $6.42\n Mark-to-Market Impact of Commodity Hedging Activities 0.05\n Impact of WVPSC Order (0.07)\n Pirkey Plant Disallowance 0.06\n Income Tax Effect of Adjustments (0.01)\n Operating EPS Guidance $6.15 to $6.45\n\nWEBCAST\n\nAEP's quarterly discussion with financial analysts and investors will be\nbroadcast live over the internet at 9 a.m. Eastern today at\nhttp://www.aep.com/webcasts\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4680123-1&h=1879005483&u=http%3A%2F%2Fwww.aep.com%2Fwebcasts&a=http%3A%2F%2Fwww.aep.com%2Fwebcasts)\n. The webcast will include audio of the discussion and visuals of charts and\ngraphics referred to by AEP management. The charts and graphics will be\navailable for download at http://www.aep.com/webcasts\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4680123-1&h=1879005483&u=http%3A%2F%2Fwww.aep.com%2Fwebcasts&a=http%3A%2F%2Fwww.aep.com%2Fwebcasts)\n.\n\nAEP reports its financial results in accordance with GAAP. AEP supplements its\nreporting of financial information with certain non-GAAP financial measures,\nsuch as operating earnings and operating earnings per share. The most\ncomparable GAAP measure to operating earnings and operating earnings per share\nis GAAP earnings and GAAP earnings per share, respectively.\n\nThis information is intended to enhance an investor's overall understanding of\nperiod over period financial results and provide an indication of AEP's\nbaseline operating performance by excluding items that are considered by\nmanagement to be not directly related to the ongoing operations of the\nbusiness. In addition, this information is among the primary indicators\nmanagement uses as a basis for evaluating performance, allocating resources,\nsetting incentive compensation targets and planning and forecasting of future\nperiods. These non-GAAP financial measures are not a presentation defined\nunder GAAP and may not be comparable to other companies' presentations. These\nnon-GAAP measures should not be deemed more useful than, a substitute for, or\nan alternative to the most comparable GAAP measures.\n\nABOUT AEP\n\nAmerican Electric Power (Nasdaq: AEP) is committed to improving our customers'\nlives with reliable, affordable power. We plan to invest $78 billion from 2026\nthrough 2030 to enhance service for customers and support the growing energy\nneeds of our communities. Our nearly 18,000 employees operate and maintain the\nnation's largest electric transmission system with 40,000 line miles, along\nwith more than 252,000 miles of distribution lines to deliver energy to 5.6\nmillion customers in 11 states. AEP also is one of the nation's largest\nelectricity producers with approximately 32,000 megawatts of diverse owned and\ncontracted generating capacity. We are focused on safety and operational\nexcellence, creating value for our stakeholders and bringing opportunity to\nour service territory through economic development and community engagement.\nOur family of companies includes AEP Ohio, AEP Texas, Appalachian Power (in\nVirginia, West Virginia and Tennessee), Indiana Michigan Power, Kentucky\nPower, Public Service Company of Oklahoma, and Southwestern Electric Power\nCompany (in Arkansas, Louisiana, east Texas and the Texas Panhandle). AEP also\nowns AEP Energy, which provides innovative competitive energy solutions\nnationwide. AEP is headquartered in Columbus, Ohio. For more information,\nvisit aep.com.\n\nWEBSITE DISCLOSURE\n\nAEP may use its website as a distribution channel for material company\ninformation. Financial and other important information regarding AEP is\nroutinely posted on and accessible through AEP's website at\nhttps://www.aep.com/investors/\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4680123-1&h=2261011570&u=https%3A%2F%2Fwww.aep.com%2Finvestors%2F&a=https%3A%2F%2Fwww.aep.com%2Finvestors%2F)\n. In addition, you may automatically receive email alerts and other\ninformation about AEP when you enroll your email address by visiting the\n\"Email Alerts\" section at https://www.aep.com/investors/\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4680123-1&h=2261011570&u=https%3A%2F%2Fwww.aep.com%2Finvestors%2F&a=https%3A%2F%2Fwww.aep.com%2Finvestors%2F)\n.\n\nFORWARD-LOOKING INFORMATION\n\nThis report made by the Registrants contains forward-looking statements, and\nfor the Registrants other than Parent, this report contains forward looking\nstatements within the meaning of Section 21E of the Securities Exchange Act of\n1934. These matters are subject to risks and uncertainties that could cause\nactual results to differ materially from those projected. Forward-looking\nstatements in this document are presented as of the date of this document.\nExcept to the extent required by applicable law, management undertakes no\nobligation to update or revise any forward-looking statement. Among the\nfactors that could cause actual results to differ materially from those in the\nforward-looking statements are: changes in economic conditions, electric\nmarket demand and demographic patterns in AEP's service territory; the\neconomic impact of increased global conflicts and trade tensions, and the\nadoption or expansion of economic sanctions, tariffs, trade restrictions or\nchanges in trade policy; inflationary or deflationary interest rate trends;\nnew legislation or regulations adopted in the states in which we operate or\nfederal legislation or regulations adopted that alters the regulatory\nframework or that prevents the timely recovery of costs and investments;\nvolatility and disruptions in financial markets precipitated by any cause,\nincluding fiscal and monetary policy or instability in the banking industry;\nparticularly developments affecting the availability or cost of capital to\nfinance new capital projects and refinance existing debt; the availability and\ncost of funds to finance working capital and capital needs, particularly (a)\nif expected sources of capital such as proceeds from the sale of tax credits\nand anticipated securitizations do not materialize or do not materialize at\nthe level anticipated, and (b) during periods when the time lag between\nincurring costs and recovery is long and the costs are material; changing\ndemand for electricity, including large load contractual commitments; the\nrisks and uncertainties associated with wildfires, including damages caused by\nwildfires, the extent of each Registrant's liability in connection with\nwildfires, investigations and outcomes associated with legal proceedings,\ndemands or similar actions, inability to recover wildfire costs through\ninsurance or through rates and the impact on financial condition and the\nreputation of each Registrant; the impact of extreme weather conditions,\nnatural disasters and catastrophic events such as storms, hurricanes,\nwildfires and drought conditions that pose significant risks including\npotential litigation and the inability to recover significant damages and\nrestoration costs incurred; limitations or restrictions on the amounts and\ntypes of insurance available to cover losses that might arise in connection\nwith natural disasters, wildfires or operations; the cost of fuel and its\ntransportation, the creditworthiness and performance of parties who supply and\ntransport fuel and the cost of storing and disposing of used fuel, including\ncoal ash and SNF; the availability of fuel and necessary generation capacity\nand the performance of generation plants; the ability to recover fuel and\nother energy costs through regulated or competitive electric rates; the\nability to plan for, develop, construct, acquire, or integrate a broad range\nof generation and energy storage resources, as well as related transmission\nand distribution infrastructure, including obtaining necessary regulatory\napprovals, permits, and incentives; complying with cost caps and other\nregulatory or contractual requirements; and recovering associated costs and\nearning an appropriate return while meeting reliability, affordability,\nenvironmental, and customer–service obligations; the disruption of AEP's\nbusiness operations due to impacts of economic or market conditions, costs of\ncompliance with potential government regulations, electricity usage, supply\nchain issues, customers, service providers, vendors and suppliers caused by\nnatural disasters or other events; construction and development risks\nassociated with the completion of the 2026-2030 capital investment plan,\nincluding shortages or delays in labor, materials, equipment or parts;\nprolonged or recurring U.S. federal government shutdowns could adversely\naffect AEP's operations, regulatory approvals, financial performance and could\ncause volatility in the capital markets which may interrupt our access to\ncapital; new legislation, litigation or government regulation, including\nchanges to tax laws and regulations, oversight of nuclear generation, evolving\nenvironmental standards, energy commodity trading and new or modified\nrequirements related to emissions of sulfur, nitrogen, mercury, carbon, soot\nor PM and other substances that could impact the continued operation, cost\nrecovery and/or profitability of generation plants and related assets; the\nimpact of tax legislation or associated Department of Treasury guidance,\nincluding potential changes to existing tax incentives, on capital plans,\nresults of operations, financial condition, cash flows or credit ratings; the\nrisks before, during and after generation of electricity associated with the\nfuels used or the by-products and wastes of such fuels, including coal ash and\nSNF; timing and resolution of pending and future rate cases, negotiations and\nother regulatory decisions, including rate or other recovery of new\ninvestments in generation, distribution and transmission service and\nenvironmental compliance; resolution of litigation or regulatory proceedings\nor investigations; the ability to efficiently manage and recover operation,\nmaintenance and development project costs; prices and demand for power\ngenerated and sold in wholesale markets; changes in technology, including new,\ndeveloping, alternative or distributed sources of generation and energy\nstorage; the ability to recover through rates any remaining unrecovered\ninvestment in generation units that may be retired before the end of their\npreviously projected useful lives; volatility and changes in markets for coal\nand other energy-related commodities, particularly changes in the price of\nnatural gas; the impact of changing expectations and demands of customers,\nregulators, investors and stakeholders, including development, adoption, and\nuse of AI by us, our customers and our third party vendors and evolving\nexpectations related to sustainability; customer affordability considerations\nmay impact regulatory recovery outcomes and future rate design; changes in\nutility regulation, policies, methodologies for evaluating and approving load\ninterconnection, and the allocation of costs within RTOs including ERCOT, PJM\nand SPP and the impacts of potential market changes within those RTOs; changes\nin the creditworthiness of the counterparties with contractual arrangements,\nincluding participants in the energy trading market; actions of rating\nagencies, including changes in ratings impacting the cost of debt;\ngeopolitical developments continue to create uncertainty in global energy\nmarkets and have contributed to increased volatility in fuel supply and\npricing. Shifts in global market conditions and broader supply-chain pressures\nmay influence natural gas prices, power-generation economics and customer\ndemand patterns; the impact of volatility in the capital markets on the value\nof the investments held by the pension, OPEB and nuclear decommissioning\ntrust funds and a captive insurance entity and the impact of such volatility\non future funding requirements; accounting standards periodically issued by\naccounting standard-setting bodies; the ability to successfully defend against\ncybersecurity threats; other risks and unforeseen events, including wars and\nmilitary conflicts, the effects of terrorism (including increased security\ncosts), embargoes, labor strikes impacting material supply chains, global\ninformation technology disruptions and other catastrophic events; the ability\nto attract and retain the requisite work force and key personnel, including\nsenior management.\n American Electric Power\n Financial Results for the First Quarter of 2026\n Reconciliation of GAAP to Operating Earnings (non-GAAP)\n\n 2026\n Vertically Transmission AEP Generation Corporate Total EPS (a)\n Integrated & Distribution Transmission & and Other\n Utilities Utilities Holdco Marketing\n ($ in millions, unaudited)\n\n GAAP Earnings (Loss) (b) 462 237 209 75 (109) 874 $ 1.61\n\n Adjustments to GAAP Earnings\n Mark-to-Market Impact of Commodity (c) 7 — — 19 — 26 0.05\n Hedging Activities\n Impact of WVPSC Order (d) (35) — — — — (35) (0.07)\n Pirkey Plant Disallowance (e) 31 — — — — 31 0.06\n Income Tax Effect of Adjustments (f) (1) — — (4) — (5) (0.01)\n Total Adjustments 2 — — 15 — 17 $ 0.03\n\n Operating Earnings (Loss) 464 237 209 90 (109) 891 $ 1.64\n (non-GAAP)\n\n (a) EPS is calculated using the weighted average basic common shares outstanding\n (b) Represents the earnings (loss) attributable to common shareholders\n (c) Represents the mark–to–market impact of economic hedging activities which\n are excluded to align with the recognition of the underlying hedged exposures\n (d) Represents the impact of the WVPSC order related to the 2024 Modified Rate\n Base Cost surcharge update filing. These amounts represent the deferral of\n costs incurred in prior periods and are not indicative of the Company's\n baseline operating performance in the current year\n (e) Represents the impact of the probable partial disallowance of the Pirkey Plant\n net book value in the 2025 Texas Base Rate Case. This disallowance is related\n to expectations related to the outcome of a pending case and is not indicative\n of the Company's baseline operating performance in the current year\n (f) Tax effect is calculated using the statutory tax rate unless otherwise noted\n\n \n Financial Results for the First Quarter of 2025\n Reconciliation of GAAP to Operating Earnings (non-GAAP)\n\n 2025\n Vertically Transmission AEP Generation Corporate Total EPS (a)\n Integrated & Distribution Transmission & and Other\n Utilities Utilities Holdco Marketing\n ($ in millions, unaudited)\n\n GAAP Earnings (Loss) (b) 324 165 235 102 (26) 800 $ 1.50\n\n Adjustments to GAAP Earnings (c)\n Mark-to-Market Impact of Commodity (d) 26 — — (40) — (14) (0.03)\n Hedging Activities\n Sale of AEP Onsite Partners (e) — — — 14 (4) 10 0.02\n Impact of Ohio Legislation (f) — 27 — — — 27 0.05\n Total Adjustments 26 27 — (26) (4) 23 $ 0.04\n\n Operating Earnings (Loss) 350 192 235 76 (30) 823 $ 1.54\n (non-GAAP)\n\n (a) EPS is calculated using the weighted average basic common shares outstanding\n (b) Represents the earnings (loss) attributable to common shareholders\n (c) Excluding tax related adjustments, all items presented in the table are tax\n adjusted at the statutory rate unless otherwise noted\n (d) Represents the mark–to–market impact of economic hedging activities which\n are excluded to align with the recognition of the underlying hedged exposures\n (e) Represents an adjustment to the estimated loss on sale of AEP OnSite Partners\n as a result of the contractual working capital true-up\n (f) Represents the estimated reduction in regulatory assets for OVEC-related\n purchased power costs as a result of approved legislation in Ohio\n\n \n American Electric Power\n Summary of Selected Sales Data\n Regulated Connected Load\n (Data based on preliminary, unaudited results)\n\n Three Months Ended March 31\n ENERGY & DELIVERY SUMMARY 2025 2026 Variance\n (in millions of KWh)\n Vertically Integrated Utilities\n Retail:\n Residential 9,404 8,873 (5.6) %\n Commercial 5,896 6,827 15.8 %\n Industrial 8,101 7,998 (1.3) %\n Miscellaneous 533 534 0.2 %\n Total Retail 23,934 24,232 1.2 %\n\n Wholesale (a) 4,791 3,545 (26.0) %\n\n Total KWhs 28,725 27,777 (3.3) %\n\n Transmission & Distribution Utilities\n Retail:\n Residential 7,011 6,532 (6.8) %\n Commercial 9,588 12,777 33.3 %\n Industrial 6,756 6,872 1.7 %\n Miscellaneous 172 166 (3.5) %\n Total Retail (b) 23,527 26,347 12.0 %\n\n Wholesale (c) 667 643 (3.6) %\n\n Total KWhs 24,194 26,990 11.6 %\n\n (a) Includes off-system sales, municipalities and cooperatives, unit power and\n other wholesale customers\n (b) Represents energy delivered to distribution customers\n (c) Primarily Ohio's contractually obligated purchases of OVEC power sold to PJM\n\n \n\n(https://mma.prnewswire.com/media/476288/American_Electric_Power_Logo.html)\n\n \n\nView original content to download\nmultimedia:https://www.prnewswire.com/news-releases/aep-reports-first-quarter-2026-earnings-reaffirms-guidance-and-increases-five-year-capital-plan-302762002.html\n(https://www.prnewswire.com/news-releases/aep-reports-first-quarter-2026-earnings-reaffirms-guidance-and-increases-five-year-capital-plan-302762002.html)\n\nSOURCE American Electric Power\n\n\n\nMEDIA CONTACT: Scott Blake, Director, Media Relations, 614/716-1938; ANALYSTS CONTACT: Darcy Reese, Vice President, Investor Relations, 614/716-2614\n\nPhoto: \nhttps://mma.prnewswire.com/media/476288/American_Electric_Power_Logo.jpg\n\nCopyright (c) 2026 PR Newswire Association,LLC. All Rights Reserved."},"type":"article","timestamp":"2026-05-05T10:57:00.151903822Z","server_sent_at_ms":1777978620151},"received_at":"2026-05-05T10:57:00.303Z","source_url":"https://www.prnewswire.com/news-releases/aep-reports-fourth-quarter-and-full-year-2025-results-reaffirms-long-term-growth-outlook-302686335.html"},"analysis":{"id":"15228","press_release_id":"20631","analysis_json":{"industry":{"label":"Utilities","sector":"Utilities"},"redFlags":[],"eventType":"earnings","narrative":"AEP reported first-quarter 2026 operating earnings of $1.64 per share, beating the prior year's $1.54, on revenue of $6.02 billion.\n\nManagement reaffirmed its 2026 operating earnings guidance range of $6.15 to $6.45 per share and raised the five-year capital plan to $78 billion from $72 billion to support accelerating demand.\n\nThe increased capital investment is expected to drive an operating earnings CAGR greater than 9% through 2030, backed by 63 gigawatts of new load additions by 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additions"},{"amount":"$33 billion","context":"Total transmission investment"},{"amount":"$600 million","context":"Federal tools savings for customers"},{"amount":"$5,463 million","context":"First Quarter 2025 Revenue"},{"amount":"$6,020 million","context":"First Quarter 2026 Revenue"}]},"model_name":"glm-4.7","prompt_hash":"sha256:a2703c5a1b5285fe","schema_hash":"sha256:1f8af1196c7db48c","created_at":"2026-05-05T11:16:12.367Z","global_importance":35,"audience_relevance":40,"importance_components":{"tickerTier":"large-cap","eventGravity":"earnings-and-capex-hike","sectorWeight":"utilities","householdBrandBoost":0,"marketCapAdjustment":0,"retailFavoriteBoost":0}},"durationMs":39703,"modelName":"glm-4.7"}}