Summary
American Electric Power Company, Inc. (AEP) filed an 8-K on September 12, 2007, to disclose that its management would be reaffirming its previously issued earnings guidance for the 2007 fiscal year. During investor meetings scheduled between September 12 and September 21, 2007, AEP confirmed its ongoing earnings per share (EPS) guidance range of $2.85 to $3.05. This guidance was originally provided on July 31, 2007, in conjunction with the company's second-quarter earnings release. The company highlighted its use of "ongoing earnings," which are GAAP earnings adjusted for certain items, as its primary performance metric for communicating with investors and analysts. AEP management believes this non-GAAP measure provides a more meaningful representation of the company's operational performance and is used internally for performance tracking. The filing also included a standard cautionary statement regarding forward-looking statements and the various factors that could cause actual results to differ from projections.
Key Highlights
- 1AEP reaffirms 2007 fiscal year ongoing earnings per share (EPS) guidance of $2.85 to $3.05.
- 2The reaffirmation occurred during investor meetings held between September 12 and September 21, 2007.
- 3AEP's ongoing earnings guidance was initially provided on July 31, 2007, with the Q2 earnings release.
- 4The company emphasizes 'ongoing earnings' (adjusted GAAP earnings) as its preferred performance metric for investor communications.
- 5AEP uses 'ongoing earnings' internally for performance measurement against budget and board reporting.
- 6The filing includes a standard disclaimer about forward-looking statements and potential influencing factors.
- 7No new financial results or material events were reported in this specific 8-K filing, only a reaffirmation of guidance.