American Electric Power Co. Inc. on Oct. 24 reported operating earnings of $722.3 million, or $1.46 per share, in the third quarter of 2019, up from $619.1 million, or $1.26 per share, in the comparable quarter of 2018.
The results beat the S&P Global Market Intelligence consensus normalized earnings estimate for the quarter of $1.31 per share.
The utility's GAAP earnings were $733.5 million, or $1.49 per share, compared to $577.6 million, or $1.17 per share, in the same quarter of 2018. Revenue for the quarter was unchanged at $4.3 billion.
"We've increased and narrowed our 2019 earnings guidance range based on our strong performance this year. That performance has been driven by strategic investments in our regulated businesses to enhance service for our customers, as well as by favorable weather," Chairman, President and CEO Nicholas Akins said.
Looking ahead, AEP revised its operating EPS guidance to $4.14 to $4.24 from $4 to $4.20.