We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
American Electric (AEP) Q1 Earnings Beat, Sales Decline Y/Y
Read MoreHide Full Article
American Electric Power Co., Inc. (AEP - Free Report) reported first-quarter 2019 adjusted earnings per share (EPS) of $1.19, surpassing the Zacks Consensus Estimate of $1.10 by 8.2%.
However, the bottom line rose 24% from 96 cents per share in the year-ago quarter.
The company reported GAAP earnings of $1.16 per share compared with the year-ago quarter’s 92 cents.
Total Revenues
American Electric’s first-quarter revenues of $4.06 billion missed the Zacks Consensus Estimate of $4.31 billion by 5.76%. The reported figure also declined 0.3% from the year-ago quarter’s revenues of $4.07 billion.
Quarterly Highlights
Operating expenses in the reported quarter were $1,844.3 million compared with $1,850.2 million a year ago.
Operating income in the quarter was $804.2 million, up 10.2% from $729.8 million in the year-ago quarter.
Segmental Performance
Vertically Integrated Utility Operations: Operating earnings in the quarter increased to $310.8 million from $231.2 million a year ago.
Transmission & Distribution Utilities: Operating earnings were $156.6 million in the quarter, up from $125.4 million a year ago.
AEP Transmission Holdco: This segment generated operating income of $124.2 million, up from $104 million reported in the first quarter of 2018.
Generation and Marketing: Operating earnings were $43.1 million, up from $37 million in the year-ago quarter.
Corporate & Other: Operating losses were $49.9 million compared with operating losses of $24.4 million registered in the year-ago quarter.
American Electric Power Company, Inc. Price, Consensus and EPS Surprise
FirstEnergy Corporation (FE - Free Report) delivered first-quarter 2019 operating earnings of 67 cents per share, which beat the Zacks Consensus Estimate of 66 cents by 1.52%.
NextEra Energy, Inc. (NEE - Free Report) reported first-quarter 2019 adjusted earnings of $2.20 per share, beating the Zacks Consensus Estimate of $2.01 by 9.4%.
DTE Energy Company (DTE - Free Report) reported first-quarter 2019 operating earnings per share (EPS) of $2.05, which exceeded the Zacks Consensus Estimate of $1.95 by 5.1%.
Radical New Technology Creates $12.3 Trillion Opportunity
Imagine buying Microsoft stock in the early days of personal computers… or Motorola after it released the world’s first cell phone. These technologies changed our lives and created massive profits for investors.
Today, we’re on the brink of the next quantum leap in technology. 7 innovative companies are leading this “4th Industrial Revolution” - and early investors stand to earn the biggest profits.
Image: Bigstock
American Electric (AEP) Q1 Earnings Beat, Sales Decline Y/Y
American Electric Power Co., Inc. (AEP - Free Report) reported first-quarter 2019 adjusted earnings per share (EPS) of $1.19, surpassing the Zacks Consensus Estimate of $1.10 by 8.2%.
However, the bottom line rose 24% from 96 cents per share in the year-ago quarter.
The company reported GAAP earnings of $1.16 per share compared with the year-ago quarter’s 92 cents.
Total Revenues
American Electric’s first-quarter revenues of $4.06 billion missed the Zacks Consensus Estimate of $4.31 billion by 5.76%. The reported figure also declined 0.3% from the year-ago quarter’s revenues of $4.07 billion.
Quarterly Highlights
Operating expenses in the reported quarter were $1,844.3 million compared with $1,850.2 million a year ago.
Operating income in the quarter was $804.2 million, up 10.2% from $729.8 million in the year-ago quarter.
Segmental Performance
Vertically Integrated Utility Operations: Operating earnings in the quarter increased to $310.8 million from $231.2 million a year ago.
Transmission & Distribution Utilities: Operating earnings were $156.6 million in the quarter, up from $125.4 million a year ago.
AEP Transmission Holdco: This segment generated operating income of $124.2 million, up from $104 million reported in the first quarter of 2018.
Generation and Marketing: Operating earnings were $43.1 million, up from $37 million in the year-ago quarter.
Corporate & Other: Operating losses were $49.9 million compared with operating losses of $24.4 million registered in the year-ago quarter.
American Electric Power Company, Inc. Price, Consensus and EPS Surprise
American Electric Power Company, Inc. Price, Consensus and EPS Surprise | American Electric Power Company, Inc. Quote
Financial Update
As of Mar 31, 2019, American Electric had cash and cash equivalents of $227.7 million compared with $234.1 million as of Dec 31, 2018.
Long-term debt was $22.90 billion as of Mar 31, 2019, compared with $21.65 billion as of Dec 31, 2018.
Cash flow from operations was $808.3 million in the first three months of 2019 compared with $802.2 million in the prior- year period.
2019 Guidance
American Electric has reaffirmed its 2019 operating earnings guidance of $4.00-$4.20.
Zacks Rank
American Electric currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Recent Utility Releases
FirstEnergy Corporation (FE - Free Report) delivered first-quarter 2019 operating earnings of 67 cents per share, which beat the Zacks Consensus Estimate of 66 cents by 1.52%.
NextEra Energy, Inc. (NEE - Free Report) reported first-quarter 2019 adjusted earnings of $2.20 per share, beating the Zacks Consensus Estimate of $2.01 by 9.4%.
DTE Energy Company (DTE - Free Report) reported first-quarter 2019 operating earnings per share (EPS) of $2.05, which exceeded the Zacks Consensus Estimate of $1.95 by 5.1%.
Radical New Technology Creates $12.3 Trillion Opportunity
Imagine buying Microsoft stock in the early days of personal computers… or Motorola after it released the world’s first cell phone. These technologies changed our lives and created massive profits for investors.
Today, we’re on the brink of the next quantum leap in technology. 7 innovative companies are leading this “4th Industrial Revolution” - and early investors stand to earn the biggest profits.
See the 7 breakthrough stocks now>>