- American Electric Power (AEP) narrows EPS (ex-items) guidance for FY14 to $3.20-3.40 and says it expects to earn $3.30-3.60/share in FY15 and $3.45-3.85/share in FY16.
- Management also reaffirms 2014 and 2015 capital budgets at $3.8B/year and projects a capital investment budget of $3.8B for 2016 as well.
- "Our operating earnings projections for the next three years are supported by continued successful execution of the earnings growth strategy that we established early this year," CEO Nicholas Akins says.
- Other expectations: $5B in investments in transmission between next year and 2016, separation of Ohio generation assets from the wires business at the end of this year. (PR)
American Electric talks strategy, updates guidance
Nov 10 2013, 20:16 ET