The company said GAAP earnings for Q3 2025 were $972 million ($1.82 per share), and operating earnings were $963 million ($1.80 per share). Operating earnings for Q3 2024 were $985 million ($1.85 per share).

1. 01

   The company said GAAP earnings for Q3 2025 were $972 million ($1.82 per share), and operating earnings were $963 million ($1.80 per share). Operating earnings for Q3 2024 were $985 million ($1.85 per share).

2. 02

   AEP said it presented a long-term operating earnings growth rate of 7 to 9% a year through 5 years, based on a $72 billion, 5-year capital plan. The company said rate base is expected to grow at an average annual rate of 10%, reaching $128 billion by 2030.

3. 03

   AEP said it expects load to rise by 28 GW by 2030, up 4 GW since July 2025, supported by electric service agreements or letters of agreement. The company plans to invest $30 billion in transmission, more than $20 billion in generation and $17 billion in distribution under its new capital plan.

4. 04

   AEP reaffirmed its 2025 full-year operating earnings guidance range of $5.75 to $5.95 and said it expects results in the upper half of the range. The company said the estimated GAAP earnings per share, reflecting certain items recorded through Q3, is $6.58 to $6.78, and that the FERC NOLC Order item in its reconciliation table is $(0.90).

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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