Yahoo Finance American Electric Power Company Second Quarter 2024 Earnings: Misses Expectations
American Electric Power Company (NASDAQ:AEP) Second Quarter 2024 Results
Key Financial Results
Revenue: US$4.58b (up 4.7% from 2Q 2023).
Net income: US$340.3m (down 35% from 2Q 2023).
Profit margin: 7.4% (down from 12% in 2Q 2023). The decrease in margin was driven by higher expenses.
EPS: US$0.64 (down from US$1.01 in 2Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
American Electric Power Company Revenues and Earnings Miss Expectations
Revenue missed analyst estimates by 2.4%. Earnings per share (EPS) also missed analyst estimates by 49%.
Looking ahead, revenue is forecast to grow 4.4% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Electric Utilities industry in the US.
Performance of the American Electric Utilities industry.
The company's shares are up 2.4% from a week ago.
Risk Analysis
Before you take the next step you should know about the 3 warning signs for American Electric Power Company (1 is potentially serious!) that we have uncovered.
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