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American Electric Power Company Second Quarter 2024 Earnings: Misses Expectations

American Electric Power Company (NASDAQ:AEP) Second Quarter 2024 Results

Key Financial Results

  • Revenue: US$4.58b (up 4.7% from 2Q 2023).

  • Net income: US$340.3m (down 35% from 2Q 2023).

  • Profit margin: 7.4% (down from 12% in 2Q 2023). The decrease in margin was driven by higher expenses.

  • EPS: US$0.64 (down from US$1.01 in 2Q 2023).

earnings-and-revenue-growth
earnings-and-revenue-growth

All figures shown in the chart above are for the trailing 12 month (TTM) period

American Electric Power Company Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 2.4%. Earnings per share (EPS) also missed analyst estimates by 49%.

Looking ahead, revenue is forecast to grow 4.4% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Electric Utilities industry in the US.

Performance of the American Electric Utilities industry.

The company's shares are up 2.4% from a week ago.

Risk Analysis

Before you take the next step you should know about the 3 warning signs for American Electric Power Company (1 is potentially serious!) that we have uncovered.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com