American Electric Power Co., Inc. (AEP) reported first-quarter 2013 GAAP earnings of $363 million or $0.75 per share, down from $389 million or $0.80 per share in first-quarter 2012.
Operating earnings, excluding special items, for first-quarter 2013 were $387 million or $0.80 per share, compared to first-quarter 2012 operating earnings of $389 million or $0.80 per share.
Operating earnings for the quarter were $24 million, or $0.05 per share higher than GAAP earnings, due to a $30 million reversal of a storm cost deferral due to a change in Virginia law and a $7 million restructuring charge associated with additional sustainable cost-control efforts. Analysts polled by Thomson Reuters expected the company to report earnings of $0.80 per share for the quarter. Analysts' estimates typically exclude special items.
Revenues for the quarter rose to $3.8 billion from $3.6 billion in the prior year quarter. Six analysts had consensus revenue estimate of $3.78 billion for the quarter
The company reaffirmed its operating earnings guidance range for 2013 of $3.05 to $3.25 per share. Analysts expect the company to report earnings of $3.16 per share for fiscal 2013.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.