American Electric Power Q4 Profit Down; Backs 2015 Operating EPS View

(RTTNews) - American Electric Power (AEP) reported fourth-quarter 2014 earnings of $191 million or $0.39 per share, down from $346 million or $0.71 per share in fourth-quarter 2013.

Operating earnings for fourth-quarter declined to $232 million or $0.48 per share, from $296 million or $0.60 per share last year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.50 per share for the quarter. Analysts' estimates typically exclude special items.

But, revenue for the quarter grew to $4.0 billion from $3.8 billion in the previous year. Wall Street expected revenues of $4.22 billion.

The company reaffirmed its 2015 operating earnings guidance in a range of $3.40 to $3.60 per share. Analysts expect annual earnings of $3.53 per share.