ECLN - American Electric Power Reports Q1 Revenue Miss Plans $27B Investment To 'Enhance Resiliency' | Benzinga
American Electric Power Company, Inc. (NASDAQ:AEP) reported the first quarter 2024 revenue of $5 billion, missing the consensus of $5.02 billion.
Commercial load grew by 10.5% Y/Y, led by strategic economic development focus on supporting community growth.
Total energy distribution rose 5.2% Y/Y to 26,882 million KWH in the Vertically Integrated Utilities segment and 8.4% Y/Y to 21,853 million KWH in the Transmission & Distribution Utilities segment.
Adjusted operating earnings rose to $670.4 million from $571.6 million a year ago.
Adjusted operating earnings from Vertically Integrated Utilities increased to $300.3 million from $265.2 million the prior year, and AEP Transmission Holdco grew to ...