AEP Q3 2026: revenue up 13.0%, operating EPS $2.23 tops consensus
AEP beat on both lines and lifted the long-term story: third-quarter operating EPS of $2.23 topped the $2.0749 consensus by 7.5%, and management now expects 2026 to land at or above the top of its $6.25–$6.55 range. The bigger news is a $100 billion five-year capital plan and 9%–11% earnings growth through 2031. Read this quarter as a capital-deployment story, not a rate-increase story.
1 · Expected vs. Actual
Free preview belowGAAP EPS of $2.18 compared with $1.82 a year ago, and operating EPS of $2.23 compared with $1.80. Against the $2.0749 consensus, operating EPS beat by $0.16, or 7.5%. The GAAP-to-operating gap was thin — $29 million of adjustments, mostly a $22 million wholesale contract item — so the beat is not an accounting artifact.
Revenue came in at $6.793 billion, up 13.0% from $6.011 billion a year earlier. The volume behind it is real: retail kilowatt-hours sold by the vertically integrated utilities rose 8.0%, with commercial load up 15.2%. That is new large-customer demand showing up in the meter, not just rate relief.
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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 2026-11-03
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