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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.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.
- Operating earnings up, guidance reaffirmed, and capital plan fully funded for growth.AEP
Q1 20259 Jul 2026 - Q2 2024 operating EPS up 12%, guidance reaffirmed, and $43B capital plan supports growth.AEP
Q2 20248 Jul 2026 - Directors elected, auditor and compensation approved, with strong financial and growth outlook.AEP
AGM 20258 Jul 2026 - Record Q2 earnings, $70B capital plan, and new transmission partnership drive strong growth.AEP
Q2 20258 Jul 2026 - Q1 2026 earnings, capital plan, and credit facilities surged, fueling robust long-term growth.AEP
Q1 20265 May 2026 - All voting items passed as strong growth, grid investment, and innovation were emphasized.AEP
AGM 202628 Apr 2026 - Shareholders to vote on key proposals amid strong growth, governance, and ESG focus.AEP
Proxy Filing18 Mar 2026 - Virtual annual meeting to vote on directors, auditor, share increase, stock plan, and pay.AEP
Proxy Filing18 Mar 2026 - $72B capital plan and strong load growth drive 7–9% long-term EPS growth outlook.AEP
Q3 202517 Mar 2026
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