American Electric Power Company, Inc. Reports Unaudited Consolidated Earnings and Operating Results for the Fourth Quarter and Year Ended December 31, 2017; Provides Earnings Guidance for the Year 2018; Provides Capital Expenditure Guidance for the Year 2019 and 2020
For the year, the company has posted revenue of $15.4 billion against $16.4 billion a year ago. Net profit was $1,912.6 million or $3.89 per share against $610.9 million or $1.24 per share a year ago. Non GAAP profit was $1,807.9 million or $3.68 per share against $1,937.0 million or $3.94 per share a year ago.
The company had reaffirmed its 2018 operating earnings guidance range of $3.75 to $3.95 per share. Operating earnings could differ from GAAP earnings for matters such as impairments, divestitures or changes in accounting principles. Capital investment is expected to be $6 billion.
For the year 2019, the company expects capital investment to be $6.2 billion.
For the year 2020, the company lowered its capital investment by $500 million to $5.5 billion.
For the quarter, the company produced total vertically integrated utilities of 28,916 million KWHs against 28,115 million KWHs a year ago. Total transmission & distribution utilities were 18,795 million KWHs against 18,186 million KWHs a year ago.
For the quarter, the company produced total vertically integrated utilities of 117,289 million KWHs against 117,261 million KWHs a year ago. Total transmission & distribution utilities were 76,649 million KWHs against 76,880 million KWHs a year ago.