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) Misses on Q1 Earnings, Keeps '18 View
Read MoreHide Full Article
American Electric Power Co., Inc. (AEP - Free Report) reported first-quarter 2018 adjusted earnings per share (EPS) of 96 cents, missing the Zacks Consensus Estimate of $1.00 per share by 4%.
The bottom line was on par with the previous year’s reported figure.
Excluding the one-time items, the company reported GAAP earnings of 92 cents per share, compared to the year-ago quarter’s figure of $1.20.
Total Revenues
American Electric’s first-quarter revenues of $4 billion surpassed the Zacks Consensus Estimate of $3.86 billion by 3.6%. The reported figure was also higher than the year-ago quarter’s revenue of $3.9 billion by 2.6%.
Quarterly Highlights
Operating expenses in the reported quarter were $1,850.2 million compared with $1,657.7 million a year ago.
Operating income in the quarter was $729.8 million, down 16% from $873.3 million a year ago.
Segmental Performance
Vertically Integrated Utility Operations: Operating earnings in the quarter rose to $231.2 million from $219.5 million a year ago.
Transmission & Distribution Utilities: Operating earnings were $125.4 million in the quarter, up from $119.1 million a year ago.
AEP Transmission Holdco: This segment generated operating income of $104 million, up from $71.8 million recorded in the first quarter of 2017.
Generation and Marketing: Operating earnings were $37 million, down from $68.3 million in the year-ago quarter.
Corporate & Other: Operating loss for the first quarter stands at $24.4 million, compared to operating loss of $4.4 million posted in the year ago quarter.
American Electric Power Company, Inc. Price, Consensus and EPS Surprise
DTE Energy (DTE - Free Report) reported first-quarter 2018 operating earnings per share of $1.91, which beat the Zacks Consensus Estimate of $1.89 by 1.06%. Operating earnings improved 6.7% from the year-ago quarter’s figure of $1.79.
Entergy Corporation (ETR - Free Report) reported first-quarter 2018 adjusted earnings of $1.16 per share, missing the Zacks Consensus Estimate of $1.31 by 11.5%. The reported figure also improved 17.2% from 99 cents in the year-ago quarter.
Upcoming Peer Releases
CenterPoint Energy (CNP - Free Report) is scheduled to report first-quarter 2018 results on May 4. The company carries a Zacks Rank #3.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Image: Bigstock
American Electric (AEP) Misses on Q1 Earnings, Keeps '18 View
American Electric Power Co., Inc. (AEP - Free Report) reported first-quarter 2018 adjusted earnings per share (EPS) of 96 cents, missing the Zacks Consensus Estimate of $1.00 per share by 4%.
The bottom line was on par with the previous year’s reported figure.
Excluding the one-time items, the company reported GAAP earnings of 92 cents per share, compared to the year-ago quarter’s figure of $1.20.
Total Revenues
American Electric’s first-quarter revenues of $4 billion surpassed the Zacks Consensus Estimate of $3.86 billion by 3.6%. The reported figure was also higher than the year-ago quarter’s revenue of $3.9 billion by 2.6%.
Quarterly Highlights
Operating expenses in the reported quarter were $1,850.2 million compared with $1,657.7 million a year ago.
Operating income in the quarter was $729.8 million, down 16% from $873.3 million a year ago.
Segmental Performance
Vertically Integrated Utility Operations: Operating earnings in the quarter rose to $231.2 million from $219.5 million a year ago.
Transmission & Distribution Utilities: Operating earnings were $125.4 million in the quarter, up from $119.1 million a year ago.
AEP Transmission Holdco: This segment generated operating income of $104 million, up from $71.8 million recorded in the first quarter of 2017.
Generation and Marketing: Operating earnings were $37 million, down from $68.3 million in the year-ago quarter.
Corporate & Other: Operating loss for the first quarter stands at $24.4 million, compared to operating loss of $4.4 million posted 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, 2018, American Electric had $316.5 million in cash and cash equivalents compared with $412.6 million as of Dec 31, 2017.
Long-term debt was $18.84 billion as of Mar 31, 2018, compared with $19.42 billion as of Dec 31, 2017.
Cash flow from operations was $802.2 million at the end of first-quarter compared with $806.8 million at the end of Mar 31, 2017.
Guidance
American Electric reaffirmed 2018 operating earnings guidance in the range of $3.75-$3.95.
Zacks Rank
American Electric carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Recent Peer Releases
DTE Energy (DTE - Free Report) reported first-quarter 2018 operating earnings per share of $1.91, which beat the Zacks Consensus Estimate of $1.89 by 1.06%. Operating earnings improved 6.7% from the year-ago quarter’s figure of $1.79.
Entergy Corporation (ETR - Free Report) reported first-quarter 2018 adjusted earnings of $1.16 per share, missing the Zacks Consensus Estimate of $1.31 by 11.5%. The reported figure also improved 17.2% from 99 cents in
the year-ago quarter.
Upcoming Peer Releases
CenterPoint Energy (CNP - Free Report) is scheduled to report first-quarter 2018 results on May 4. The company carries a Zacks Rank #3.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Click here for the 6 trades >>