American Electric Power
The 10-second takeaway
For the quarter ended June 30 (Q2), American Electric Power met expectations on revenue and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue stayed the same and GAAP earnings per share increased slightly.
Margins expanded across the board.
American Electric Power booked revenue of $3.60 billion. The four analysts polled by S&P Capital IQ expected to see sales of $3.61 billion on the same basis. GAAP reported sales were 1.6% lower than the prior-year quarter's $3.61 billion.
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 $0.77. The 12 earnings estimates compiled by S&P Capital IQ predicted $0.71 per share. GAAP EPS of $0.75 for Q2 were 2.7% higher than the prior-year quarter's $0.73 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 39.7%, 290 basis points better than the prior-year quarter. Operating margin was 20.9%, 100 basis points better than the prior-year quarter. Net margin was 10.2%, 40 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $4.60 billion. On the bottom line, the average EPS estimate is $1.05.
Next year's average estimate for revenue is $15.43 billion. The average EPS estimate is $3.05.
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 $41.81.
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