American Electric Power Q3 Profit Increases, Raises FY15 EPS Guidance

(RTTNews) - American Electric Power Co. Inc. (AEP) Thursday reported 26 percent increase in third quarter net income, while earnings per share was up 0.05 percent from the prior year. Revenue for the quarter edged up.

Looking ahead, the company narrowed full year earnings guidance range.

The net income for the third quarter was $519 million,up from $493 million a year ago. Earnings per share rose to $1.06 from $1.01 last year. On an adjusted basis, earnings were $521 million. On average, 16 analysts polled by Thomson Reuters expected the company to earn $1.01 per share. Analysts estimates usually exclude special items.

Revenue of the quarter was $4.4 billion, compared to $4.2 billion in the previous year. Wall Street was looking for $4.42 billion.

The company revised and narrowed its earnings guidance in a range of $3.67 to $3.77 per share, while the previous guidance was in a range of $3.50 to $3.65 per share. The Street estimate is $3.62 per share on revenue of $17.29 billion.