American Electric (AEP) To Report Q3 Earnings: Will It Beat?
Zacks Investment Research | Oct 17, 2019 11:25PM ET
American Electric Power Company, Inc. (NYSE:AEP) is set to release third-quarter 2019 results on Oct 24, before the market opens. In the trailing four quarters, the company came up with average positive earnings surprise of 2.96%.
Let’s see how things are shaping up prior to this announcement.
Factors at Play
For the most part of third-quarter 2019, the majority of the company's service territories witnessed warmer-than-normal temperatures. Such above-average temperature is likely to have boosted electricity demand in American Electric’s service territory, which, in turn, might have bolstered its top line.
The company has also been experiencing favorable rate case outcomes trend for the past couple of years. In July, the company received a settlement approval that must have boosted its top line by $11 million.
Management had projected industrial sales in the oil and gas sector to grow during the third quarter, based on a number of new projects slated to come online. Anticipating these projects have come online, we expect the upcoming results to reflect higher industrial sales for the company.
The Zacks Consensus Estimate for American Electric’s third-quarter revenues is pegged at $4.86 billion, indicating a rise of 12.9% from the year-ago quarter’s reported figure.
American Electric Power Company, Inc. Price and EPS Surprise
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