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's (AEP) Q4 Earnings and Revenues Beat
Read MoreHide Full Article
American Electric Power Company, Inc. (AEP - Free Report) reported fourth-quarter 2021 adjusted earnings per share of 98 cents, which beat the Zacks Consensus Estimate of 94 cents by 4.3%. The bottom line improved 12.6% from 87 cents per share in the year-ago quarter.
The company reported GAAP earnings of $1.07 per share compared with the year-ago quarter’s 88 cents.
For 2021, the company reported adjusted earnings of $4.74 per share, up from the year-ago figure of $4.44. The full-year bottom line also beat the Zacks Consensus Estimate of $4.70.
American Electric Power Company, Inc. Price, Consensus and EPS Surprise
American Electric’s fourth-quarter revenues of $4.10 billion beat the Zacks Consensus Estimate of $4.02 billion by 2%.
The reported figure improved 13.9% from the year-ago quarter’s $3.60 billion.
For 2021, the company generated revenues of $16.80 billion, up from the year-ago figure of $14.90 billion. The full-year top line beat the Zacks Consensus Estimate of $16.56 billion.
Segmental Performance
Vertically Integrated Utility Operations: Adjusted earnings in the quarter increased to $196.1 million from $155.1 million in the year-ago quarter.
Transmission & Distribution Utilities: Adjusted earnings were $128.5 million, up from $93.8 million in the year-ago quarter.
AEP Transmission Holdco: This segment generated adjusted earnings of $166.1 million, up from $134.6 million in the fourth quarter of 2020.
Generation and Marketing: Adjusted earnings were $30.4 million, up from $24.2 million in the year-ago quarter.
All Other: Adjusted earnings were $44.1 million compared with $25 million in the year-ago quarter.
Quarterly Highlights
Adjusted income was $496.2 million, up 14.7% from $432.7 million in the year-ago quarter.
Financial Update
As of Dec 31, 2021, American Electric had cash and cash equivalents of $403.4 million compared with $392.7 million as of Dec 31, 2020.
Long-term debt was $31.30 billion as of Dec 31, 2021, compared with $29 billion as of Dec 31, 2020.
Cash flow from operations was $3,832.9 million as of Dec 31, 2021, compared with $3,832.9 million as of Dec 31, 2020.
2022 Guidance
American Electric expects its 2022 operating earnings in the range of $4.87-$5.07 per share. The Zacks Consensus Estimate for 2022 earnings, which is pegged at $4.97 per share, is in line with the mid-point of the guidance range.
NextEra Energy (NEE - Free Report) reported fourth-quarter 2021 adjusted earnings of 41 cents per share, which beat the Zacks Consensus Estimate of 40 cents by 2.5%. The bottom line was also up 2.5% from the prior-year quarter.
NextEra’s operating revenues were $5,046 million, which lagged the Zacks Consensus Estimate of $5,436 million by 7.2%. Nonetheless, the top line improved 14.8% year over year.
CMS Energy Corporation (CMS - Free Report) reported fourth-quarter 2021 adjusted earnings per share (EPS) of 47 cents from continuing operations, which came in line with the Zacks Consensus Estimate. The reported figure declined 2.1% on a year-over-year basis.
CMS Energy’s operating revenues were $2,033 million, which exceeded the Zacks Consensus Estimate of $1,754 million by 15.9%. The top line also improved 17.7% on a year-over-year basis.
Xcel Energy Inc. (XEL - Free Report) posted fourth-quarter 2021 operating earnings of 58 cents per share, which matched the Zacks Consensus Estimate. The bottom line also rose 7.4% from the year-ago earnings of 54 cents.
Xcel Energy’s fourth-quarter revenues of $3,355 million beat the Zacks Consensus Estimate of $3,136 million by 7%. The same improved 14% from the prior-year quarter’s $2,947 million.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
American Electric's (AEP) Q4 Earnings and Revenues Beat
American Electric Power Company, Inc. (AEP - Free Report) reported fourth-quarter 2021 adjusted earnings per share of 98 cents, which beat the Zacks Consensus Estimate of 94 cents by 4.3%. The bottom line improved 12.6% from 87 cents per share in the year-ago quarter.
The company reported GAAP earnings of $1.07 per share compared with the year-ago quarter’s 88 cents.
For 2021, the company reported adjusted earnings of $4.74 per share, up from the year-ago figure of $4.44. The full-year bottom line also beat the Zacks Consensus Estimate of $4.70.
American Electric Power Company, Inc. Price, Consensus and EPS Surprise
American Electric Power Company, Inc. price-consensus-eps-surprise-chart | American Electric Power Company, Inc. Quote
Total Revenues
American Electric’s fourth-quarter revenues of $4.10 billion beat the Zacks Consensus Estimate of $4.02 billion by 2%.
The reported figure improved 13.9% from the year-ago quarter’s $3.60 billion.
For 2021, the company generated revenues of $16.80 billion, up from the year-ago figure of $14.90 billion. The full-year top line beat the Zacks Consensus Estimate of $16.56 billion.
Segmental Performance
Vertically Integrated Utility Operations: Adjusted earnings in the quarter increased to $196.1 million from $155.1 million in the year-ago quarter.
Transmission & Distribution Utilities: Adjusted earnings were $128.5 million, up from $93.8 million in the year-ago quarter.
AEP Transmission Holdco: This segment generated adjusted earnings of $166.1 million, up from $134.6 million in the fourth quarter of 2020.
Generation and Marketing: Adjusted earnings were $30.4 million, up from $24.2 million in the year-ago quarter.
All Other: Adjusted earnings were $44.1 million compared with $25 million in the year-ago quarter.
Quarterly Highlights
Adjusted income was $496.2 million, up 14.7% from $432.7 million in the year-ago quarter.
Financial Update
As of Dec 31, 2021, American Electric had cash and cash equivalents of $403.4 million compared with $392.7 million as of Dec 31, 2020.
Long-term debt was $31.30 billion as of Dec 31, 2021, compared with $29 billion as of Dec 31, 2020.
Cash flow from operations was $3,832.9 million as of Dec 31, 2021, compared with $3,832.9 million as of Dec 31, 2020.
2022 Guidance
American Electric expects its 2022 operating earnings in the range of $4.87-$5.07 per share. The Zacks Consensus Estimate for 2022 earnings, which is pegged at $4.97 per share, is in line with the mid-point of the guidance range.
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
NextEra Energy (NEE - Free Report) reported fourth-quarter 2021 adjusted earnings of 41 cents per share, which beat the Zacks Consensus Estimate of 40 cents by 2.5%. The bottom line was also up 2.5% from the prior-year quarter.
NextEra’s operating revenues were $5,046 million, which lagged the Zacks Consensus Estimate of $5,436 million by 7.2%. Nonetheless, the top line improved 14.8% year over year.
CMS Energy Corporation (CMS - Free Report) reported fourth-quarter 2021 adjusted earnings per share (EPS) of 47 cents from continuing operations, which came in line with the Zacks Consensus Estimate. The reported figure declined 2.1% on a year-over-year basis.
CMS Energy’s operating revenues were $2,033 million, which exceeded the Zacks Consensus Estimate of $1,754 million by 15.9%. The top line also improved 17.7% on a year-over-year basis.
Xcel Energy Inc. (XEL - Free Report) posted fourth-quarter 2021 operating earnings of 58 cents per share, which matched the Zacks Consensus Estimate. The bottom line also rose 7.4% from the year-ago earnings of 54 cents.
Xcel Energy’s fourth-quarter revenues of $3,355 million beat the Zacks Consensus Estimate of $3,136 million by 7%. The same improved 14% from the prior-year quarter’s $2,947 million.