AEP Q3 2025 Earnings
Reported Oct 29, 2025 at 7:02 AM ET · SEC Source
Q3 25 EPS
$1.80
Q3 25 Revenue
$6.01B
vs S&P Since Q3 25
+10.4%
BEATING MARKET
AEP +15.3% vs S&P +4.8%
Market Reaction
Did AEP Beat Earnings? Q3 2025 Results
American Electric Power turned in a mixed but strategically charged third quarter, with Q3 2025 GAAP earnings rising to $972 million, or $1.82 per share, from $960 million a year ago, while operating EPS slipped to $1.80 from $1.85 as revenue climbed… Read more American Electric Power turned in a mixed but strategically charged third quarter, with Q3 2025 GAAP earnings rising to $972 million, or $1.82 per share, from $960 million a year ago, while operating EPS slipped to $1.80 from $1.85 as revenue climbed to $6.01 billion from $5.42 billion in the prior-year period. The real story, however, was the company's unveiling of a sweeping $72 billion capital investment plan for 2026 through 2030, anchored by explosive load growth from data centers and industrial customers that has pushed AEP's committed new demand additions to 28 GW, up 4 GW since July, with peak system demand projected to nearly double from 37 GW to 65 GW by decade's end. Rate base is expected to compound at 10% annually to reach $128 billion, underpinning a raised long-term operating earnings growth target of 7–9% through 2030. Analysts broadly carry a "Moderate Buy" consensus on the stock, and AEP reinforced confidence by reaffirming its 2025 operating EPS guidance of $5.75–$5.95, expecting results in the upper half, while establishing 2026 guidance of $6.15–$6.45 per share.
Key Takeaways
- • Data center and industrial large load customer growth driving unprecedented demand
- • 28 GW of new load additions by 2030 backed by customer agreements, up 4 GW since July 2025
- • Transmission & Distribution Utilities commercial kWh sales surged 30.4% year-over-year in Q3
- • Total retail kWh for T&D Utilities grew 13.2% in Q3
- • Wholesale electric volumes for Vertically Integrated Utilities grew 18.5% in Q3
- • Revenue increased by $590.3 million year-over-year in Q3 2025
AEP YoY Financials
Q3 2025 vs Q3 2024, source: SEC Filings
“As one of the largest utilities in the nation, we are using our scale to ensure we can deliver the power our customers need. We are utilizing our position as a leading transmission owner, our experience building distribution and our success in securing critical infrastructure for generation and additional high voltage equipment to meet the needs of our customers over the next five years.”
— Bill Fehrman, Q3 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% |