American Electric Power : Q1 2026 Supplemental Slides
AEP
Published on 05/05/2026 at 07:23 am EDT
Year-to-Date 2026 - GAAP Earnings page 3
Year-to-Date 2026 - Operating Earnings page 4
Year-to-Date 2026 - Difference from GAAP page 5
Year-to-Date 2026 - Vertically Integrated Utilities page 6 Year-to-Date 2026 - Transmission & Distribution Utilities page 7
AMERICAN ELECTRIC POWER COMPANY, INC. AND SUBSIDIARY COMPANIES
CONSOLIDATED STATEMENTS OF OPERATIONS
YTD Mar 2026
Preliminary, unaudited results
(in millions)
GAAP Earnings
Eliminations
Corp & Other
Generation & Marketing
AEP
Transmission Holdco
Trans & Dist Utilities
Vertical Int Utilities
Total AEP
TOTAL REVENUE
REVENUE
$ 3,440 $
1,609 $
598 $
952 $
31 $
(610) $
6,020
EXPENSES
Purchased Electricity, Fuel and Other Consumables Used for Electric
Generation
1,075
271
-
854
-
(82)
2,118
Maintenance and Other Operation
1,017
580
53
9
38
(536)
1,161
Asset Impairments and Other Related Charges
31
-
-
-
-
-
31
Depreciation and Amortization
559
217
131
5
(5)
-
907
Taxes Other Than Income Taxes
144
200
90
1
-
8
443
TOTAL EXPENSES
2,826
1,268
274
869
33
(610)
4,660
OPERATING INCOME
614
341
324
83
(2)
-
1,360
Other Income
6
-
2
10
22
(34)
6
Non-Service Pension (Costs)/Benefits
17
16
-
5
-
-
38
AFUDC
23
25
22
-
-
-
70
Interest Expense
(245)
(105)
(69)
(1)
(166)
34
(552)
INCOME BEFORE INCOME TAXES & EQUITY EARNINGS
415
277
279
97
(146)
-
922
Income Taxes
(48)
40
67
22
(37)
-
44
Equity Earnings
-
-
25
-
-
-
25
NET INCOME
463
237
237
75
(109)
-
903
Net Income - Noncontrolling Interests
1
-
28
-
-
-
29
EARNINGS ATTRIBUTABLE TO AEP COMMON SHAREHOLDERS
$ 462
$ 237
$ 209
$ 75
$ (109)
$
- $
874
AMERICAN ELECTRIC POWER COMPANY, INC. AND SUBSIDIARY COMPANIES
CONSOLIDATED STATEMENTS OF OPERATIONS
YTD Mar 2026
Preliminary, unaudited results
(in millions, except EPS)
Operating Earnings (non-GAAP)
REVENUE
TOTAL REVENUE
Eliminations
Corp & Other
Generation & Marketing
AEP
Transmission Holdco
Trans & Dist Utilities
Vertical Int Utilities
$ 3,443 $
1,609 $
598 $
971 $
31 $
(610)
Total AEP
$ 6,042
EXPENSES
Purchased Electricity, Fuel and Other Consumables Used for Electric
Generation
1,075
271
-
854
-
(82)
2,118
Maintenance and Other Operation
1,017
580
53
9
38
(536)
1,161
Depreciation and Amortization
589
217
131
5
(5)
-
937
Taxes Other Than Income Taxes
144
200
90
1
-
8
443
TOTAL EXPENSES
2,825
1,268
274
869
33
(610)
4,659
OPERATING INCOME
618
341
324
102
(2)
-
1,383
Other Income
6
-
2
10
22
(34)
6
Non-Service Pension (Costs)/Benefits
17
16
-
5
-
-
38
AFUDC
23
25
22
-
-
-
70
Interest Expense
(246)
(105)
(69)
(1)
(166)
34
(553)
INCOME BEFORE INCOME TAXES & EQUITY EARNINGS
418
277
279
116
(146)
-
944
Income Taxes
(47)
40
67
26
(37)
-
49
Equity Earnings
-
-
25
-
-
-
25
NET INCOME
465
237
237
90
(109)
-
920
Net Income - Noncontrolling Interests
1
-
28
-
-
-
29
OPERATING EARNINGS
$ 464
$ 237
$ 209
$ 90
$ (109)
$ - $
891
OPERATING EARNINGS PER SHARE
Based on Average Shares of: 542.1 million
0.86
0.44
0.39
0.17
(0.22)
1.64
AMERICAN ELECTRIC POWER COMPANY, INC. AND SUBSIDIARY COMPANIES
CONSOLIDATED STATEMENTS OF OPERATIONS
YTD Mar 2026
Preliminary, unaudited results
Eliminations
Corp & Other
Generation & Marketing
AEP
Transmission Holdco
Trans & Dist Utilities
Vertical Int Utilities
(in millions)
Differences between GAAP and Operating Earnings (non-GAAP)
REVENUE
TOTAL REVENUE $
(3) $
- $ - $
(19) $
- $ -
Total AEP
$ (22)
EXPENSES
Purchased Electricity, Fuel and Other Consumables Used for Electric
Generation
-
-
- -
-
- -
Maintenance and Other Operation
-
-
- -
-
- -
Asset Impairments and Other Related Charges
31
-
- -
-
- 31
Depreciation and Amortization
(30)
-
- -
-
- (30)
Taxes Other Than Income Taxes
-
-
- -
-
- -
TOTAL EXPENSES
1
-
- -
-
- 1
OPERATING INCOME
(4)
-
- (19)
-
- (23)
Other Income
-
-
- -
-
- -
Non-Service Pension (Costs)/Benefits
-
-
- -
-
- -
AFUDC
-
-
- -
-
- -
Interest Expense
1
-
- -
-
- 1
INCOME BEFORE INCOME TAXES & EQUITY EARNINGS
(3)
-
- (19)
-
- (22)
Income Taxes
(1)
-
- (4)
-
- (5)
Equity Earnings
-
-
- -
-
- -
NET INCOME
(2)
-
- (15)
-
- (17)
Net Income - Noncontrolling Interests
-
-
- -
-
- -
Earnings Variance
$ (2)
$
- $
- $ (15)
$ - $
- $ (17)
Adjustments, before-tax
Mark-to-Market Impact of Commodity Hedging Activities
(7)
-
- (19)
-
- (26)
Impact of WVPSC Order
35
-
- -
-
- 35
Pirkey Plant Disallowance
(31)
-
- -
-
- (31)
Income Tax Effect of Adjustments
1
-
- 4
-
- 5
Total Adjustments
(2)
-
- (15)
-
- (17)
AMERICAN ELECTRIC POWER COMPANY, INC. AND SUBSIDIARY COMPANIES
CONSOLIDATED STATEMENTS OF OPERATIONS
YTD Mar 2026
Preliminary, unaudited results
Eliminations
$
1,163 $
122 $
81 $
940 $
217 $
56 $
439 $
571 $
(146) $
3,443
Vertical Int Utilities
Southwestern
Electric Power Co.
Public Service Co - Oklahoma
Kingsport Power
Kentucky Power
I&M Power Company
AEP
Generating
Wheeling Power Company
Appalachian Power Company
(in millions)
Operating Earnings (non-GAAP)
REVENUE
TOTAL REVENUE
EXPENSES
Purchased Electricity, Fuel and Other Consumables Used for Electric
Generation
364
45
49
309
81
42
164
171
(150)
1,075
Maintenance and Other Operation
316
37
13
264
65
5
166
164
(13)
1,017
Depreciation and Amortization
192
22
15
131
32
3
73
121
-
589
Taxes Other Than Income Taxes
47
3
1
24
6
3
23
37
-
144
TOTAL EXPENSES
919
107
78
728
184
53
426
493
(163)
2,825
OPERATING INCOME
244
15
3
212
33
3
13
78
17
618
Other Income
1
-
-
2
-
-
-
2
1
6
Non-Service Pension (Costs)/Benefits
4
-
1
4
3
-
2
1
2
17
AFUDC
4
-
-
6
2
-
3
8
-
23
Interest Expense
(76)
(11)
(1)
(43)
(21)
(1)
(43)
(50)
-
(246)
INCOME BEFORE INCOME TAXES & EQUITY EARNINGS
177
4
3
181
17
2
(25)
39
20
418
Income Taxes
5
(5)
1
28
3
-
(40)
(43)
4
(47)
Equity Earnings
-
-
-
-
-
-
-
-
-
-
NET INCOME
172
9
2
153
14
2
15
82
16
465
Net Income - Noncontrolling Interests
-
-
-
-
-
-
-
1
-
1
OPERATING EARNINGS (non-GAAP)
$ 172
$
9
$ 2
$ 153
$ 14
$ 2
$ 15
$ 81
$ 16
$ 464
Adjus tments, before-tax
Mark-to-Market Impact of Commodity Hedging Activities -
-
-
(7)
-
-
-
-
-
(7)
Impact of WVPSC Order
29
6
-
-
-
-
-
-
-
35
Pirkey Plant Disallowance
-
-
-
-
-
-
-
(31)
-
(31)
Income Tax Effect of Adjustments
(6)
(1)
-
2
-
-
-
6
-
1
GAAP / Reported Earnings
195
14
2
148
14
2
15
56
16
462
Preliminary, unaudited results
Eliminations
$
1,085 $
524 $
- $
1,609
Trans & Dist Utilities
AEP Texas
Ohio Power
(in millions)
Operating Earnings (non-GAAP)
REVENUE
TOTAL REVENUE
EXPENSES
Purchased Electricity, Fuel and Other Consumables Used for Electric
Generation
271
-
-
271
Maintenance and Other Operation
394
186
-
580
Depreciation and Amortization
111
105
1
217
Taxes Other Than Income Taxes
156
45
(1)
200
TOTAL EXPENSES
932
336
-
1,268
OPERATING INCOME
153
188
-
341
Other Income
-
-
-
-
Non-Service Pension (Costs)/Benefits
9
6
1
16
AFUDC
7
19
(1)
25
Interest Expense
(40)
(66)
1
(105)
INCOME BEFORE INCOME TAXES & EQUITY EARNINGS
129
147
1
277
Income Taxes
12
27
1
40
Equity Earnings
-
-
-
-
NET INCOME
117
120
-
237
Net Income - Noncontrolling Interests
-
-
-
-
OPERATING EARNINGS (non-GAAP)
$
117
$
120
$
-
$
237
Adjustments, after-tax
Mark-to-Market Impact of Commodity Hedging Activities
-
-
-
-
Impact of WVPSC Order
-
-
-
-
Income Tax Effect of Adjustments
-
-
-
-
GAAP / Reported Earnings
117
120
-
237
Page
Disclaimer
AEP - American Electric Power Company Inc. published this content on May 05, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 05, 2026 at 11:22 UTC.