American Electric Power
The 10-second takeaway
For the quarter ended June 30 (Q2), American Electric Power met expectations on revenues and met expectations on earnings per share.
Compared to the prior-year quarter, revenue was unchanged. Non-GAAP earnings per share dropped. GAAP earnings per share dropped.
Margins dropped across the board.
American Electric Power chalked up revenue of $3.60 billion. The six analysts polled by S&P Capital IQ looked for a top line of $3.65 billion on the same basis. GAAP reported sales were the same as the prior-year quarter's.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.73. The 16 earnings estimates compiled by S&P Capital IQ forecast $0.74 per share. Non-GAAP EPS of $0.73 for Q2 were 5.2% lower than the prior-year quarter's $0.77 per share. GAAP EPS of $0.69 for Q2 were 8.0% lower than the prior-year quarter's $0.75 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 38.1%, 160 basis points worse than the prior-year quarter. Operating margin was 19.6%, 130 basis points worse than the prior-year quarter. Net margin was 9.4%, 80 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $4.64 billion. On the bottom line, the average EPS estimate is $1.09.
Next year's average estimate for revenue is $15.84 billion. The average EPS estimate is $3.14.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on American Electric Power is outperform, with an average price target of $50.70.
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