Investing.com - American Electric Power (NYSE:AEP) reported on Wednesday first quarter earnings that missed analysts' forecasts and revenue that fell short of expectations.
American Electric Power announced earnings per share of $1.02 on revenue of $3.7B. Analysts polled by Investing.com anticipated EPS of $1.1 on revenue of $4.48B. That with comparison to EPS of $1.19 on revenue of $4.1B in the same period a year before. American Electric Power had reported EPS of $0.6 on revenue of $3.6B in the previous quarter. Analysts are expecting EPS of $0.99 and revenue of $4B in the upcoming quarter.
American Electric Power shares are down 11% from the beginning of the year , still down 20.63% from its 52 week high of $104.97 set on February 4. They are outperforming the S&P 500 which is down 11.6% year to date.
American Electric Power follows other major Utilities sector earnings this month
American Electric Power's report follows an earnings beat by NextEra Energy on April 22, who reported EPS of $2.38 on revenue of $4.61B, compared to forecasts EPS of $2.37 on revenue of $4.64B.
Dominion Energy had missed expectations on Tuesday with first quarter EPS of $1.09 on revenue of $4.5B, compared to forecast for EPS of $1.1 on revenue of $4.72B.
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