AEP Q2 2025 Earnings
Reported Jul 30, 2025 at 7:02 AM ET · SEC Source
Q2 25 EPS
$1.43
BEAT +12.84%
Est. $1.27
Q2 25 Revenue
$5.09B
BEAT +2.38%
Est. $4.97B
vs S&P Since Q2 25
+10.8%
BEATING MARKET
AEP +24.3% vs S&P +13.6%
Market Reaction
Did AEP Beat Earnings? Q2 2025 Results
American Electric Power delivered a standout second quarter, posting operating earnings of $1.43 per share against a consensus estimate of $1.27, a beat of 12.84%, as revenue climbed 9.9% year-over-year to $5.09 billion, edging past the $4.97 billion… Read more American Electric Power delivered a standout second quarter, posting operating earnings of $1.43 per share against a consensus estimate of $1.27, a beat of 12.84%, as revenue climbed 9.9% year-over-year to $5.09 billion, edging past the $4.97 billion Wall Street expected. The primary engine behind the outperformance was broad-based strength across AEP's regulated utility segments, with the Vertically Integrated Utilities segment and its Transmission Holdco both posting meaningful year-over-year gains. Surging commercial demand, particularly from data centers concentrated in AEP's Ohio and Texas territories, drove retail deliveries up 7.7%, with commercial load alone jumping 19.9%. The scale of that demand growth is reshaping the company's long-term strategy: AEP now holds firm customer agreements for 24 gigawatts of new load by 2030 and plans to unveil a five-year capital program of roughly $70 billion this fall, up from $54 billion. Management raised its sights to the upper half of its 2025 operating EPS guidance range of $5.75 to $5.95, while reaffirming a long-term earnings growth rate of 6% to 8%.
Key Takeaways
- • Customer-focused strategy delivering record operating earnings
- • Legislative advancements in Oklahoma, Ohio and Texas supporting infrastructure investment
- • Acquisition of Green Country natural gas plant in Oklahoma
- • Approval of large load tariffs across several jurisdictions
- • FERC NOLC Order contributed $480.1 million to GAAP earnings (excluded from operating)
- • Strong T&D Utilities commercial load growth of 19.9% YoY
- • Wholesale electric deliveries up 8.4% at Vertically Integrated and 83.4% at T&D Utilities
AEP YoY Financials
Q2 2025 vs Q2 2024, source: SEC Filings
“Our record second-quarter results reflect the strength of our customer-focused strategy and the dedication of our teams across the company.”
— Bill Fehrman, Q2 2025 Earnings Press Release
AEP Earnings Trends
AEP vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
AEP EPS Trend
Earnings per share: estimate vs actual
AEP Revenue Trend
Quarterly revenue: estimate vs actual
AEP Quarterly Results
4 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q4 25 BEAT FY | $1.14 | $1.19 | +4.39% | $5.31B | — |
| FY Full Year | $5.91 | $5.97 | +1.09% | $21.88B | +1.27% |
| Q3 25 | — | $1.80 | — | $6.01B | — |
| Q2 25 BEAT | $1.27 | $1.43 | +12.84% | $5.09B | +2.38% |
| Q1 25 BEAT | $1.40 | $1.54 | +9.86% | $5.46B | +5.41% |