Summary
American Electric Power Company, Inc. (AEP) filed an 8-K on May 31, 2006, to disclose information to be presented to investors during meetings held between May 31, 2006, and June 6, 2006. The primary purpose of this filing was to reaffirm the company's previously issued guidance for ongoing earnings per share (EPS) for the fiscal year 2006, which remains within the range of $2.50 to $2.70. This guidance was initially provided on April 27, 2006, in conjunction with AEP's first-quarter earnings release. The company emphasized that it uses "ongoing earnings," which are GAAP earnings adjusted for certain items, as its preferred metric for assessing performance and communicating its outlook to investors and analysts. This focus on ongoing earnings highlights management's belief in its ability to provide a more meaningful representation of the company's operational performance and financial health, excluding potentially volatile or non-recurring factors.
Key Highlights
- 1Reaffirmation of 2006 ongoing earnings per share guidance of $2.50 to $2.70.
- 2Guidance was previously stated in an April 27, 2006, 8-K filing related to Q1 earnings.
- 3Company will be conducting investor meetings from May 31, 2006, through June 6, 2006.
- 4Presentation materials for these meetings will be available on AEP's website.
- 5Management emphasizes "ongoing earnings" (adjusted GAAP earnings) as the primary performance metric.
- 6Ongoing earnings are used for external communication with analysts/investors and internal performance measurement.