AMERICAN ELECTRIC POWER CO (AEP) Company Report

IURC approved I&M’s acquisition of the 870 MW Oregon Clean Energy Center in Ohio.
The FERC signed off in October, and I&M expects ownership transfer in March 2026.
The purchase is part of I&M’s Future Ready plan to diversify its generation portfolio and ensure cost-effective, reliable service.
Indiana peak demand is forecast to more than double from ~2,800 MW in 2024 to >7,000 MW by 2030, driving the need for new capacity.

2 days ago

Press Release

AEP announces strategic partnership with Quanta Services

AEP

New Projects/Investments

AEP and Quanta Services entered long-term agreements to support AEP’s $72 billion capital plan for transmission and infrastructure investments from 2026 through 2030.
The Cooperation and Commitment Agreement covers design, engineering, procurement and construction of 765 kV and other high-voltage transmission facilities to enhance cost predictability and delivery certainty.
The Development Services Agreement will expand domestic manufacturing capacity for extra-high-voltage transformers and circuit breakers, strengthening supply chain resilience.
The partnership combines AEP’s operational expertise with Quanta’s large-scale project execution to meet rising load demands, including the data center market.

Nov 5, 2025, 1:00 PM

Press Release

AEP reports Q3 2025 results and outlines $72B 5-year investment plan

AEP

Earnings

Guidance Update

New Projects/Investments

AEP delivered Q3 2025 operating earnings of $1.80 per share, reaffirmed its 2025 full-year guidance of $5.75–$5.95 and issued 2026 operating earnings guidance of $6.15–$6.45 per share (~8% above the 2025 midpoint), while establishing a 7%–9% long-term earnings CAGR for 2026–2030.
Introduced a $72 billion capital investment plan over 2026–2030 (30% above the prior plan), with over two-thirds directed to transmission and generation, driving a 10% five-year rate-base CAGR and nearly 90% of spend recovered through reduced lag mechanisms.
Underpinned by exceptional demand growth, AEP now has 28 GW of incremental contracted load (up from 24 GW) and projects 65 GW system peak demand by 2030, with ~80% of new load from data centers secured under energy service agreements.
Highlighted its transmission leadership, operating 2,100 miles of 765 kV lines (90% of U.S. total) and targeting a transmission rate base exceeding $50 billion by 2030, with transmission expected to contribute over 50% of 2026 operating earnings.

Oct 29, 2025, 1:00 PM

Transcript

American Electric Power reports Q3 2025 results and updates growth outlook

AEP

Earnings

Guidance Update

New Projects/Investments

AEP delivered Q3 operating earnings of $1.80 per share ($963 million), reaffirmed its FY 2025 EPS guidance of $5.75–$5.95 (upper half) and set 2026 guidance at $6.15–$6.45 (≈8% growth)
Introduced a 7–9% long-term operating earnings growth rate for 2026–2030 (9% expected CAGR) supported by a $72 billion five-year capital plan
Highlighted 28 GW of contracted load additions driving demand to a projected 65 GW system peak by 2030, leveraging 2,100 miles of 765 kV transmission (90% of U.S. 765 kV infrastructure)
Forecasts residential rates to rise ~3.5% annually through 2030 (below historical inflation) and plans to maintain FFO-to-debt at 14–15%, with $5.9 billion in growth equity issuance in the back half of the plan

Oct 29, 2025, 1:00 PM

Transcript

AEP reports Q3 2025 results and guidance

AEP

Earnings

Guidance Update

New Projects/Investments

Reported Q3 2025 GAAP EPS of $1.82 and Operating EPS of $1.80, with YTD Operating EPS at $4.78, and guided to the upper half of the 2025 Operating EPS range of $5.75–$5.95.
Introduced a new long-term Operating EPS growth rate of 7%–9% with an expected 9% CAGR through 2030, supported by a $72 billion capital plan and projected system peak demand of ~65 GW by 2030.
Delivered strong load growth, including ~2 GW of data center load in Q3 and ~8% commercial and industrial load growth on a rolling 12-month basis as of 9/30/2025.
Provided 2026 guidance with Operating EPS of $6.15–$6.45, >$12 billion in capital investment, >50% of operating earnings from high-growth transmission, and 4 GW of incremental contracted load additions.

Oct 29, 2025, 1:00 PM

Presentation

American Electric Power reports Q3 2025 earnings

AEP

Earnings

Consolidated revenue of $3,579.8 million in Q3 2025.
Operating earnings (non-GAAP) of $573.5 million, versus GAAP net income of $578.2 million.
Fuel and purchased power expenses totaled $1,168.4 million for the quarter.
Includes an after-tax $4.7 million mark-to-market gain on commodity hedges.

Oct 29, 2025, 1:00 PM

Presentation

AEP reports Q3 2025 earnings and updates 2026 outlook

AEP

Earnings

Guidance Update

New Projects/Investments

AEP delivered Q3 2025 operating earnings of $1.80 per share ($963 million), down from $1.85 per share in Q3 2024, primarily due to last year’s sale of the distributed resources business.
Reaffirmed full-year 2025 guidance of $5.75–$5.95 per share (guiding to the upper half) and set 2026 operating earnings guidance at $6.15–$6.45 per share, an ~8% increase over the 2025 midpoint.
Unveiled a $72 billion five-year (2026–2030) capital plan—up >30%—driving a 10% rate‐base CAGR, with ~90% of investments recovered through reduced regulatory lag and two-thirds allocated to transmission and generation.
Introduced a new long-term operating earnings growth rate of 7%–9% annually (9% expected CAGR) for 2026–2030, with growth weighted toward the latter years as capital deployments peak.
Highlighted robust demand, including 28 GW of contracted incremental load (up from 24 GW) and 8% rolling 12-month C&I load growth, supporting major 765 kV transmission expansions and grid modernization.

Oct 29, 2025, 1:00 PM

Transcript

AEP reports Q3 2025 earnings and unveils $72 billion capital plan

AEP

Earnings

Guidance Update

New Projects/Investments

AEP reported Q3 2025 GAAP EPS of $1.82 and operating EPS of $1.80, versus GAAP $1.80 and operating $1.85 in Q3 2024.
Reaffirmed full-year 2025 operating EPS guidance of $5.75–$5.95, with results expected in the upper half of the range.
Unveiled a $72 billion five-year capital plan to support 28 GW of new load and target 7–9% long-term operating EPS growth through 2030.
Projects rate base to grow at a 10% CAGR to $128 billion by 2030.

Oct 29, 2025, 11:02 AM

8-K

AEP reports third-quarter 2025 operating earnings and updated capital plan

AEP

Earnings

Guidance Update

New Projects/Investments

AEP reported third-quarter 2025 operating earnings of $963 million or $1.80 per share, compared with $985 million or $1.85 per share in Q3 2024.
Announced a five-year $72 billion capital plan, supported by 28 GW of new load backed by customer agreements, targeting 7–9% long-term operating earnings growth through 2030 and 10% CAGR in rate base to $128 billion by 2030.
Reaffirmed full-year 2025 operating earnings guidance in the upper half of $5.75–$5.95 per share and provided 2026 guidance of $6.15–$6.45 per share.
Capital plan allocations include $30 billion for transmission, $20 billion for generation and $17 billion for distribution to support peak demand growth from 37 GW to 65 GW by 2030.

Oct 29, 2025, 10:57 AM

Press Release

AEP increases quarterly dividend to $0.95 per share

AEP

Dividends

AEP’s Board declared a quarterly cash dividend of $0.95 per share, a 2¢ increase, payable Dec. 10, 2025, to shareholders of record Nov. 10, 2025.
This represents the company’s 462nd consecutive quarterly common stock dividend, maintaining an uninterrupted payout since July 1910.
AEP has delivered a consistent quarterly dividend for 115 years, demonstrating long-term shareholder value commitment.

Oct 22, 2025, 6:01 PM

Press Release

Filings & Transcripts

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