EarningsQ2 2026 Earnings Report
MX:AEP Q2 2026 EPS Results
Actual EPS$23.06
Consensus EPS$25.17
Beat/MissMissed by -$2.10
One Year Ago EPS$24.25
MX:AEP Q2 2026 Revenue Results
Actual Revenue$92.14B
Expected Revenue$90.61B
Beat/MissBeat by +$1.53B
YoY Revenue Growth+6.79%
Earnings Announcement Details
QuarterQ2 2026
Date07/30/2026
TimeBefore Open
Conference CallThursday, July 30, 2026
MX:AEP Upcoming Earnings
American Electric Power's next earnings date is estimated for October 22, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:AEP Q2 2026 Earnings Call
0:00 / 0:00
Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed strong growth momentum and constructive regulatory and financing progress: guidance was raised, large-load contracting accelerated to 69 GW (45 GW in Texas backed by ~$2 billion of collateral), the five-year capital plan doubled versus four years ago to $78 billion, and key DOE financing and a $3 billion equity transaction de-risked funding. Offsetting these positives were near-term timing and comparability headwinds (Transmission Holdco minority sale and tax timing items), modest Q2 EPS decline (-~4.9%), elevated O&M to support reliability, and execution/timing risks tied to interconnection reviews (ERCOT, PJM) and project milestones (e.g., Wyoming fuel cells). On balance, highlights substantially outweigh the lowlights, supporting a positive outlook while noting timing and execution uncertainties.Company Guidance
Raised 2026 Guidance and Strong Earnings Outlook
Raised full-year 2026 operating earnings guidance to $6.25–$6.55 per share (up $0.10 from prior range). Reaffirmed annual operating earnings growth rate of 7%–9% and an operating EPS CAGR >9% through 2030.
Solid Q2 and YTD Results
Q2 operating earnings of $1.36 per share ($742 million). Year-to-date operating earnings $3.01 per share vs $2.98 prior year (+~1.0%), demonstrating underlying business strength despite timing items.
Large-Load Contracting Momentum
Contracted 69 GW of large-load additions through 2030, up 6 GW QoQ (from 63 GW, +9.5%). Texas accounts for 45 GW (≈65% of contracted load) and AEP submitted 45 GW into ERCOT Batch Zero supported by nearly $2 billion in cash/collateral.
Expanded Capital Plan and Growth Trajectory
Five-year capital plan (2026–2030) increased to $78 billion vs $38 billion four years ago (+~105%), expected to result in nearly 11% rate-base CAGR and significant long-term investment runway.
Transmission and Financing Progress
Secured a $3.3 billion DOE loan guarantee for AEP Texas (part of ~$5 billion in DOE loans across the portfolio). DOE loans and ~$400 million in grants expected to deliver ~ $1.4 billion in customer benefits. Completed a $3 billion marketed equity transaction to de-risk financing for the $78 billion plan.
Generation Equipment Procurement
Secured an additional ~3 GW of gas turbine capacity, bringing total secured turbine capacity to ~13 GW for deployment through 2031, and has optional access to up to 10 GW incremental capacity through 2035 — improving equipment availability visibility.
Constructive Regulatory Outcomes
Several positive regulatory wins: Ohio distribution base-case settlement with a base rate decrease and ROE increase to 9.84% (from 9.7%); Virginia completed $1.4 billion securitization enabling a near-record low base rate request; Texas (SWEPCO) and Oklahoma (PSO) advanced favorable settlements/tracker mechanisms that support improved cost recovery.
Balance-Sheet and Credit Discipline
Management reiterated commitment to investment-grade metrics, targeting FFO-to-debt of 14%–15%, while pursuing diverse financing tools and preserving shareholder value amid large capital deployment.
MX:AEP Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed