American Electric's Q3 Earnings Beat Estimates, Revenues Rise Y/Y

American Electric Power Company, Inc. AEP reported third-quarter 2024 adjusted earnings per share (EPS) of $1.85, which beat the Zacks Consensus Estimate of $1.78 by 3.9%. The bottom line also improved 4.5% from earnings of $1.77 per share recorded in the year-ago quarter.The company reported GAAP earnings of $1.80 per share compared with the year-ago quarter’s figure of $1.83.See the Zacks Earnings Calendar to stay ahead of market-making news.American Electric’s Total RevenuesOperating revenues of $5.43 billion rose 2.4% from the year-ago quarter’s level of $5.30 billion. It also surpassed the Zacks Consensus Estimate of $5.39 billion.The company reported GAAP revenues of $5.42 billion, which improved 1.5% year over year.American Electric Power Company, Inc. Price, Consensus and EPS Surprise American Electric Power Company, Inc. price-consensus-eps-surprise-chart | American Electric Power Company, Inc. QuoteAEP’s Segmental PerformanceVertically Integrated Utility Operations: Adjusted earnings increased to $572.4 million from $520 million in the year-ago period.Transmission & Distribution Utilities: Adjusted earnings totaled $245.2 million, up from $206 million in the year-ago quarter.AEP Transmission Holdco: This segment generated adjusted earnings of $214.7 million, up from $202.9 million in the year-ago quarter.Generation and Marketing: Adjusted earnings amounted to $99.2 million, up from $92.8 million in the year-ago quarter.All Other: The segment reported a loss of $146.1 million, wider than the loss of $97.9 million in the year-ago period.Highlights of AEP’s ResultElectricity sales volume from Vertically Integrated Utilities dropped 1% year over year, while Transmission & Distribution Utilities’ electricity sales volume improved 4.1%.Total expenses were $4.05 billion, up 1.5% from the year-ago level.Interest expenses amounted to $498.8 million, up 6.1% from the year-ago quarter’s figure.AEP’s GuidanceAmerican Electric has updated its 2024 operating earnings guidance. It now expects to generate earnings in the band of $5.58-$5.68 per share, narrower than its previous guidance of $5.53-$5.73. The Zacks Consensus Estimate for earnings is pegged at $5.60 per share, which lies below the mid-point of the company’s new projected range.AEP’s Zacks RankAmerican Electric currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Recent Utility ReleasesEdison International EIX reported third-quarter adjusted earnings of $1.51 per share, which surpassed the Zacks Consensus Estimate of $1.39 by 8.6%. The bottom line also increased 9.4% from $1.38 in the year-ago quarter.EIX's operating revenues totaled $5.20 billion, which beat the consensus estimate of $4.76 billion by 9.4%. The top line also increased 10.6% from the year-ago quarter’s figure of $4.70 billion.FirstEnergy FE reported third-quarter 2024 operating earnings of 85 cents per share, which lagged the Zacks Consensus Estimate of 95 cents by 6.6%. The bottom line decreased 3.4% from the year-ago figure of 88 cents per share.FE’s operating revenues totaled $3.73 billion, which missed the consensus estimate of $3.98 billion by 6.4%. The top line, however, increased 6.9% from $3.48 billion reported in the year-ago quarter.CenterPoint Energy, Inc. CNP reported third-quarter adjusted earnings of 31 cents per share, which missed the Zacks Consensus Estimate of 36 cents by 13.9%. The bottom line also deteriorated 22.5% from the year-ago figure.CNP’s revenues totaled $1.86 billion, which missed the consensus estimate of $1.88 billion by 1.2%. The top line was also 0.2% lower than the year-ago figure.Zacks Names #1 Semiconductor StockIt's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.See This Stock Now for Free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Edison International (EIX): Free Stock Analysis Report FirstEnergy Corporation (FE): Free Stock Analysis Report American Electric Power Company, Inc. (AEP): Free Stock Analysis Report CenterPoint Energy, Inc. (CNP): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks