AEP Q2 2026: profit drops on one-off items, but guidance was raised
AEP's second-quarter 2026 headline profit fell sharply and missed consensus, yet management still raised full-year guidance — so read this quarter as timing and one-off noise around a steady utility. Revenue grew 7.4% while operating earnings slipped only 3.1%; the GAAP drop comes from items excluded from operating results. That is why the scorecard below shows a miss and a raise at the same time.
1 · Expected vs. Actual
Free preview belowGAAP earnings fell 41.8% to $713 million, or $1.31 a share, from $1.226 billion, or $2.29, a year ago — but that prior quarter carried $480 million of FERC items that never touched operating earnings. Operating earnings were $742 million, or $1.36, down 4.9% from $1.43. Against the $1.5103 consensus, operating EPS missed by roughly 10.0% and GAAP missed by 13.3%.
Revenue rose 7.4% to $5.461 billion from $5.087 billion a year earlier, and the first half reached $11.465 billion versus $10.550 billion, up 8.7%. The growth is volume, not price: in the Vertically Integrated Utilities, commercial kilowatt-hour sales jumped 14.9% and total retail sales rose 4.6%. Data centers and other large loads are showing up in the meter readings.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-09-17
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