COLUMBUS (dpa-AFX) - While reporting financial results for the third quarter on Wednesday, electric utility American Electric Power Co., Inc. (AEP) tightened its operating earnings guidance for the full-year 2024. The company also initiated operating earnings outlook for the full-year 2025, below estimates.
For fiscal 2024, the company now projects earnings in a range of $5.55 to $5.65 per share and operating earnings in a range of $5.58 to $5.68 per share.
Previously, the company expected earnings in the range of $5.56 to $5.76 per share and operating earnings in a range of $5.53 to $5.73 per share.
On average, 20 analysts polled by Thomson Reuters expect the company to report earnings of $5.62 per share for the year. Analysts' estimates usually exclude special items.
Looking ahead to fiscal 2025, the company announced new long-term growth rate of 6 to 8 percent, based off of 2025 operating earnings guidance in a range of $5.75 to $5.95 per share. The Street is looking for earnings of $5.98 per share for the year.
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