American Electric Power Company
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American Electric Power Company (AEP) investor relations material

American Electric Power Company Q2 2026 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q2 2026 earnings summary30 Jul, 2026

Executive summary

  • Q2 2026 operating earnings were $742M ($1.36/share), down from $766M ($1.43/share) in Q2 2025, mainly due to the 2025 transmission minority interest sale, timing-related tax items, and the absence of a major FERC order benefit.

  • Full-year 2026 operating earnings guidance was raised to $6.25–$6.55/share, reflecting strong business performance, robust load growth, and confidence in the growth trajectory.

  • Affirmed 7%–9% annual operating earnings growth rate and expect operating EPS CAGR above 9% through 2030, supported by a $78B capital plan and over $10B in incremental investment opportunities.

  • Achieved significant regulatory progress, including approvals for large load tariffs, rate reductions, and customer affordability measures in multiple states.

  • Up to $16B in expected cost offsets and $1.4B in projected customer savings from federal loans and grants support affordability.

Financial highlights

  • Q2 2026 operating earnings: $742M ($1.36/share), down from $766M ($1.43/share) in Q2 2025; year-to-date operating earnings: $1,633M ($3.01/share), up from $1,589M ($2.98/share) year-over-year.

  • Q2 2026 revenues rose to $5.45B from $5.09B in Q2 2025; year-to-date revenue increased to $11.47B from $10.55B.

  • Regulated earned ROE for the quarter was 9.2%, with a path to 9.5% by 2030.

  • FFO to debt ratio was 14.6% (S&P) and 14.0% (Moody’s) as of 6/30/2026, within the targeted 14%–15% range.

  • Debt-to-total capitalization increased to 61.4% at June 30, 2026.

Outlook and guidance

  • 2026 operating earnings guidance increased to $6.25–$6.55/share; expected operating earnings CAGR above 9% through 2030.

  • Five-year capital plan (2026–2030) totals $78B, with over $10B in incremental investment opportunities identified.

  • 2026 capital investment planned at $13B; dividend yield expected at ~3%.

  • Incremental contracted load forecasted to reach 69 GW by 2030, up 6 GW from Q1 2026.

  • Estimated 2026 GAAP EPS guidance is $6.16–$6.46/share, with adjustments for non-recurring items.

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Q3 202628 Oct, 2026
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