American Electric Power Co Inc (AEP) announced earnings for fourth quarter that decreased from the same period last year but beat the Street estimates.
The company's earnings totaled $384.3 million, or $0.75 per share. This compares with $538.9 million, or $1.07 per share, in last year's fourth quarter.
Excluding items, American Electric Power Co Inc reported adjusted earnings of $540.1 million or $1.05 per share for the period.
Analysts on average had expected the company to earn $0.99 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter rose 19.5% to $4.9 billion from $4.1 billion last year.
American Electric Power Co Inc earnings at a glance (GAAP) :
-Earnings (Q4): $384.3 Mln. vs. $538.9 Mln. last year.
-EPS (Q4): $0.75 vs. $1.07 last year.
-Analyst Estimates: $0.99
-Revenue (Q4): $4.9 Bln vs. $4.1 Bln last year.
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