American Electric Power Reaffirms 2024 Adjusted Operating Earnings Guidance Of $5.53 -5.73 Per Share Vs. $5.59 Consensus
Portfolio Pulse from Benzinga Newsdesk
American Electric Power (AEP) has reaffirmed its adjusted operating earnings guidance for 2024, projecting earnings in the range of $5.53 to $5.73 per share, aligning with a consensus of $5.59. The company also provided an estimated GAAP earnings range of $6.17 to $6.37 per share, accounting for special items recorded through the first quarter. AEP noted that operating earnings could vary due to factors like impairments, divestitures, or changes in accounting principles, and it cannot provide a GAAP equivalent forecast for 2024.
April 30, 2024 | 11:17 am
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
American Electric Power reaffirms its 2024 adjusted operating earnings guidance, projecting $5.53 to $5.73 per share, with a consensus at $5.59. GAAP earnings are estimated at $6.17 to $6.37 per share.
Reaffirming earnings guidance typically signals management's confidence in the company's financial outlook, which can positively influence investor sentiment. The alignment with consensus estimates further stabilizes expectations. The provided GAAP earnings range, higher than the adjusted guidance, indicates potential for positive financial surprises, further supporting a positive short-term impact on AEP's stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100