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Jun 30
AEP Q2 2025 Earnings Report
American Electric Power reported record Q2 2025 operating earnings, driven by strong segment performance and positive regulatory developments.
Key Takeaways
AEP delivered strong second-quarter results with record operating earnings, higher revenue, and reinforced forward guidance toward the top end of its FY2025 range.
GAAP net income rose significantly to $1.23 billion from $340 million in Q2 2024.
Operating earnings reached $766 million, up from $662 million in Q2 2024.
Revenue increased by over $500 million YoY to $5.09 billion.
AEP is guiding to the upper half of its FY2025 operating EPS range of $5.75 to $5.95.
AEP
AEP
AEP Revenue by Segment
Revenue by Segment
Vertically Integrated Revenue
CapyFin.comT&D Utilities Revenue
CapyFin.comAEP Transmission Revenue
CapyFin.comGeneration & Mktg Revenue
CapyFin.comCorporate & Other Revenue
CapyFin.com Forward Guidance
AEP reaffirmed its 2025 operating earnings guidance of $5.75–$5.95 per share and guided toward the upper half of this range, citing strong operational execution and regulatory clarity.
Positive Outlook
- Guiding toward upper half of FY2025 EPS range
- Reaffirmed 6%–8% long-term earnings growth target
- Planned $70B five-year capital investment
- Stable credit ratings following equity investments
- Increasing customer load agreements to 24 GW by 2030
Challenges Ahead
- Impact from FERC NOLC Order reduced GAAP earnings
- Retail electricity demand in some segments slightly declined YoY
- Potential challenges converting load requests into contracts
- Regulatory headwinds in certain jurisdictions may persist
- Large-scale transmission investments could face permitting delays