8-KRegulation FD

AMERICAN ELECTRIC POWER CO INC 8-K Report, Regulation FD Disclosure (May 5, 2009)

Filed May 5, 2009For Securities:AEP

Summary

This 8-K filing by American Electric Power Company, Inc. (AEP) on May 5, 2009, primarily serves as a Regulation FD disclosure. The company announced its intention to reaffirm its previously issued earnings guidance for the 2009 fiscal year during upcoming investor meetings. AEP reiterated its ongoing earnings per share projection to be between $2.75 and $3.05. Management emphasized that 'ongoing earnings,' which adjust GAAP earnings for certain items, are the primary metric used internally and externally to assess performance and outlook. The filing also includes a comprehensive list of forward-looking statements and risk factors that could materially impact the company's actual results. These factors range from regulatory and legislative changes, fuel costs, generating capacity performance, and economic conditions to financial market volatility and unforeseen catastrophic events. Investors should note that AEP expressly disclaims any obligation to update this forward-looking information.

Key Highlights

  • 1AEP will reaffirm its 2009 ongoing earnings per share guidance of $2.75 to $3.05 during investor meetings.
  • 2The company defines 'ongoing earnings' as GAAP earnings adjusted for certain items, representing its primary performance metric.
  • 3The filing serves as a Regulation FD disclosure, ensuring all investors receive the same information simultaneously.
  • 4A comprehensive list of risk factors that could affect future financial performance is provided.
  • 5Key risk factors include regulatory and legislative changes, fuel costs, weather, and economic conditions.
  • 6AEP explicitly states it has no obligation to update forward-looking statements made in the report.

Frequently Asked Questions

The main purpose of this 8-K filing is to disclose, under Regulation FD, that AEP representatives will reaffirm their previously issued 2009 earnings per share guidance of $2.75 to $3.05 during upcoming investor meetings. It also provides a detailed list of potential risk factors that could impact future financial results.

AEP uses 'ongoing earnings' as its primary performance measurement. This metric represents GAAP earnings that have been adjusted for certain items that management believes do not reflect the company's core operational performance. This approach is used both internally for performance tracking and externally when communicating with analysts and investors about earnings expectations.

The filing outlines numerous risks, including: electric load and customer growth, weather conditions, costs and availability of fuels, generating capacity performance, regulatory decisions on asset recovery and rate increases, new legislation and litigation (especially related to environmental regulations), litigation outcomes, operational cost control, asset sales, economic climate in service territories, financial market conditions impacting capital availability and debt refinancing, and changes in utility regulation.

The filing includes a statement that AEP expressly disclaims any obligation to update any forward-looking information. This means that while the company has provided its current guidance and risk factors, it is not committing to update this information should circumstances change.