American Electric reports Q4 operating EPS $1.23 vs $1.05 last year

Reports Q4 revenue $4.6B vs $4.9B last year. “Our team delivered 2023 operating earnings results within our narrowed guidance range as we navigated a dynamic environment of higher interest rates and one of the mildest years for weather in our service territory in the last three decades,” Benjamin G.S. Fowke III, interim CEO and president, said. “We are advancing our strategic priorities through investments in the energy system to benefit customers while managing the portfolio, driving efficiencies and lowering O&M costs. We also continue our disciplined approach to economic development that resulted in a 7.8% increase in commercial load and a 1.6% increase in industrial load in 2023, bringing jobs and economic growth to our communities. This remains a key area of focus as we see continued growth opportunities and strong interest from customers in the commercial sector.