AEP Reports Third-Quarter 2026 Earnings, Expands Capital Plan and Increases Growth Outlook
Key Highlights
- ➤AEP operating EPS $2.23, up $0.43 year over year
- ➤AEP forecasts 2026 operating EPS at or above $6.55
- ➤AEP announces $100 billion five-year capital plan through 2031
- ➤AEP projects 9% to 11% annual operating EPS growth through 2031
- ➤AEP expects up to $21 billion in residential fixed-cost offsets
Expert Statements
Bill Fehrman, Chairman, president and chief executive officer of AEP
“AEP is entering our next phase of growth from a position of strength,”
Bill Fehrman, Chairman, president and chief executive officer of AEP
“Our expanded capital plan and increased growth rate reflect the significant opportunities ahead and our ability to execute at scale to help meet rapidly growing energy needs while delivering long-term value to our customers, communities, shareholders and all other stakeholders.”
Bill Fehrman, Chairman, president and chief executive officer of AEP
“As electricity demand accelerates, AEP is committed to having new large-load customers bear the incremental system costs they create and fund the investments required to serve them,”
Bill Fehrman, Chairman, president and chief executive officer of AEP
“By pairing disciplined customer agreements with strategic investments in generation, transmission and distribution, we can strengthen reliability, drive affordability for customers and bring new economic opportunities to the communities we serve.”
AEP Reports Third-Quarter 2026 Earnings, Expands Capital Plan and Increases Growth Outlook PR Newswire
* Reporting third-quarter GAAP and operating earnings per share of $2.18 and $2.23, respectively * Forecasting 2026 operating earnings per share to be at or above high end of the $6.25 to $6.55 range * Announcing $100 billion five-year capital plan, with a 13%+ rate base CAGR through 2031 * Introducing operating earnings annual growth rate of 9% to 11% from 2027 through 2031 * Projecting operating earnings CAGR of 10%+ through 2031 * Expecting up to $21 billion of fixed cost offsets for residential customers from large load contracts COLUMBUS, Ohio, Oct. 28, 2026 /PRNewswire/ -- American Electric Power (Nasdaq: AEP) today reported third-quarter 2026 GAAP earnings of $1,187 million or $2.18 per share, compared with GAAP earnings of $972 million or $1.82 per share in third-quarter 2025. Operating earnings for third-quarter 2026 were $1,216 million or $2.23 per share, compared with operating earnings of $963 million or $1.80 per share in third-quarter 2025. See the detailed GAAP-to-operating earnings reconciliation at the end of this news release. AEP expects full-year results to be at or above the high end of its 2026 operating earnings guidance range of $6.25 to $6.55 per share.
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