AEP Reports Third-Quarter 2026 Earnings, Expands Capital Plan and Increases Growth Outlook
AEP reported Q3 2026 operating EPS of $2.23, up 24% from $1.80 a year earlier, on revenue of $6.83 billion versus $6.01 billion in Q3 2025. The company raised full-year 2026 guidance to at or above the high end of $6.25-$6.55 and introduced 2027 ($6.75-$7.05) and 2028 ($7.40-$7.70) ranges, plus a new 9-11% annual growth outlook through 2031. AEP expanded its five-year capital plan to $100 billion, supporting a 13%+ rate base CAGR to $162 billion by 2031, with 15 GW of new load commitments signed in the quarter and incremental contracted load expected to reach 84 GW by 2031.
Key figures
- Eps
- 2.23
- Revenue
- 6832000000
- Guidance
- FY2026 operating EPS at or above high end of $6.25-$6.55; 2027 guidance $6.75-$7.05; 2028 guidance $7.40-$7.70; 9-11% annual operating EPS growth 2027-2031, 10%+ CAGR through 2031 off $6.30 base
- Revenue Yoy
- 13.7%
- Gaap eps
- 2.18
- Capital plan
- $100 billion five-year plan through 2031
- Rate base 2031
- $162 billion
- Rate base cagr
- 13%+
- Fixed cost offsets
- $21 billion (up from $16 billion)
- Operating earnings
- 1216000000
- Contracted load 2031
- 84 GW
- Generation investment
- $36 billion
- Distribution investment
- $22 billion
- New load commitments q3
- 15 GW
- Transmission investment
- $37 billion
AI analysis
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