American Electric Power Narrows 2022 Earnings Guidance
October 04 2022 - 9:12AM
Dow Jones News
By Dean Seal
American Electric Power Co. raised the lower end of its
operating earnings guidance for 2022 and said it expects to see
earnings grow between 6% and 7% next year.
The Columbus, Ohio utility said Tuesday that it now expects
annual operating earnings of between $4.97 and $5.07 a share,
compared with its prior outlook of between $4.87 and $5.07 a share.
Analysts surveyed by FactSet are expecting $4.99 a share.
The company forecast the figure to be in the range of $5.19 to
$5.39 in 2023. Analysts are expecting $5.28 a share, according to
FactSet.
American Electric Power said it is accelerating its emission
reduction targets with a new net zero goal by 2045 and an 80%
reduction in full scope 1 emissions by 2030.
The company's shares edged 1% higher to $89 in premarket
trading.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
October 04, 2022 08:57 ET (12:57 GMT)
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