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Research Alert: Aep Q1 Beat Led By Load Surge; Raises Capex Plan To $78b On Demand Wave

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CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:

American Electric Power delivered strong Q1 results with operating EPS of $1.64, up 6.5% and beating consensus by $0.07, while revenue increased 10.2% to $6.02B, fueled by robust commercial and industrial load growth. The company signed 7 GW of new load agreements in Q1, accelerating total incremental commitments to 63 GW by 2030 from 56 GW previously. We view AEP's unprecedented load growth visibility and expanded $78B capital plan as key competitive advantages, positioning the company among the fastest-growing regulated utilities. Management reaffirmed 2026 EPS guidance of $6.15-$6.45 while projecting up to $16B in cost offsets for existing customers. The enhanced capital deployment is expected to drive nearly 11% annual rate base growth and operating earnings CAGR exceeding 9% through 2030. AEP's transmission leadership with $33B in planned investments provides substantial competitive differentiation across multiple regional markets.

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