Companies /Utilities

American Electric Power Company Inc

NASDAQ: AEP Utilities - Regulated Electric
$122.31
▼ $0.40 (−0.33%) today
Markets closed · 8:31am ET

Q3 2025 Earnings

Reported Oct 29, 2025, 7:02am ET · SEC source
$1.80
Miss −0.28%
EPS · est. $1.81
$6.0B
Beat +7.92%
Revenue · est. $5.6B
−0.3%
Trailing market
AEP vs S&P since report
1 quarter
Consecutive EPS misses

Market Reaction

% change · around the report
0+3%+6%Oct 29Oct 30report 7:02am ETearnings−0.7%+4.4%
0+3%+6%Oct 29Oct 30earnings−0.7%+4.4%
AEP +4.4%S&P 500 −0.7%
0+3%+6%Oct 29Oct 30report 7:02am ETearnings−0.9%+4.4%
0+3%+6%Oct 29Oct 30earnings−0.9%+4.4%
AEP +4.4%NASDAQ −0.9%
−3%0+3%Oct 28Nov 5report 7:02am ETearnings−1.6%+0.8%
−3%0+3%Oct 28Nov 5earnings−1.6%+0.8%
AEP +0.8%S&P 500 −1.6%
−3%0+3%Oct 28Nov 5report 7:02am ETearnings−2.0%+0.8%
−3%0+3%Oct 28Nov 5earnings−2.0%+0.8%
AEP +0.8%NASDAQ −2.0%
+6.08%
Day of report
−0.18%
Next session
−1.92%
One week
−1.31%
30 days

S&P 500 over the same 30 days: −1.04%.

Did AEP Beat Earnings? Q3 2025 Results

American Electric Power turned in a mixed but strategically charged third quarter, with Q3 2025 GAAP earnings rising to $972 million, or $1.82 per share, from $960 million a year ago, while operating EPS slipped to $1.80 from $1.85 as revenue climbed to $6.01 billion from $5.42 billion in the prior-year period. The real story, however, was the company's unveiling of a sweeping $72 billion capital investment plan for 2026 through 2030, anchored by explosive load growth from data centers and industrial customers that has pushed AEP's committed new demand additions to 28 GW — up 4 GW since July — with peak system demand projected to nearly double from 37 GW to 65 GW by decade's end. Rate base is expected to compound at 10% annually to reach $128 billion, underpinning a raised long-term operating earnings growth target of 7–9% through 2030. Analysts broadly carry a "Moderate Buy" consensus on the stock, and AEP reinforced confidence by reaffirming its 2025 operating EPS guidance of $5.75–$5.95, expecting results in the upper half, while establishing 2026 guidance of $6.15–$6.45 per share.

Key Takeaways
  • Data center and industrial large load customer growth driving unprecedented demand
  • 28 GW of new load additions by 2030 backed by customer agreements, up 4 GW since July 2025
  • Transmission & Distribution Utilities commercial kWh sales surged 30.4% year-over-year in Q3
  • Total retail kWh for T&D Utilities grew 13.2% in Q3
  • Wholesale electric volumes for Vertically Integrated Utilities grew 18.5% in Q3
  • Revenue increased by $590.3 million year-over-year in Q3 2025

“As one of the largest utilities in the nation, we are using our scale to ensure we can deliver the power our customers need. We are utilizing our position as a leading transmission owner, our experience building distribution and our success in securing critical infrastructure for generation and additional high voltage equipment to meet the needs of our customers over the next five years.”

American Electric Power CEO, on the earnings call

Forward Guidance & Outlook

AEP reaffirms its 2025 operating earnings guidance range of $5.75 to $5.95 per share, expecting results in the upper half of the range. The company established 2026 operating earnings guidance of $6.15 to $6.45 per share. AEP announced a new long-term operating earnings growth rate of 7-9% through 2030, with growth in the lower half of the range during 2025-2026 and at or above the high end in 2028-2030. Over the five-year period, operating EPS is expected to compound at a 9% annual growth rate as infrastructure projects are placed in service. Rate base is expected to grow at a 10% CAGR to $128 billion by 2030, supported by a $72 billion capital plan (2026-2030). Peak system demand is projected to increase from 37 GW currently to 65 GW by 2030, driven by 28 GW of committed new load from data center and industrial customers.

AEP YoY Financials

Revenue$6.0B
Net Income$972.0M
Operating Income$962.9M

Figures from SEC filings and company reports. Not investment advice.