The company said it reported GAAP earnings of $800 million ($1.50 per share) for Q1 2025, compared with $1,003 million ($1.91 per share) for Q1 2024. Operating earnings (non-GAAP) for the same quarter were $823 million ($1.54 per share).

1. 01

   The company said it reported GAAP earnings of $800 million ($1.50 per share) for Q1 2025, compared with $1,003 million ($1.91 per share) for Q1 2024. Operating earnings (non-GAAP) for the same quarter were $823 million ($1.54 per share).

2. 02

   AEP said operating earnings (non-GAAP) for Q1 were $823.3 million, up $152.9 million from $670.4 million for Q1 2024. The company cited the following GAAP adjustments: mark-to-market impact of $(14.0) million, the sale of AEP OnSite Partners $9.4 million, and the impact of Ohio legislation $27.7 million.

3. 03

   AEP said it met the expected equity funding needs for its 5-year, $54 billion capital plan in Q1. The minority equity interest investment in the Ohio and Indiana Michigan transmission companies is $2.82 billion, and the equity offering completed in March secured $2.3 billion.

4. 04

   The company reaffirmed its 2025 operating earnings (non-GAAP) outlook of $5.75 to $5.95 per share and its long-term growth rate of 6% to 8%. It said the estimated GAAP earnings per share, reflecting certain items recorded through Q1, is $5.71 to $5.91.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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