Summary
American Electric Power Company, Inc. (AEP) filed an 8-K on June 18, 2009, to disclose information that would be shared with investors during meetings on the same day. The primary focus of this disclosure was the reaffirmation of AEP's previously issued earnings guidance for the 2009 fiscal year. The company reiterated its expectation of ongoing earnings per share to be in the range of $2.75 to $3.05. AEP emphasizes that 'ongoing earnings,' which are GAAP earnings adjusted for certain items, are considered a more meaningful measure of its performance. This metric is used by management for communicating its earnings outlook and results to analysts and investors, as well as for internal performance tracking and reporting to the board of directors. The filing also included a standard forward-looking statement disclaimer, outlining various factors that could materially impact actual results, including economic conditions, regulatory decisions, and energy market volatility.
Key Highlights
- 1Reaffirmed 2009 fiscal year ongoing earnings guidance of $2.75 to $3.05 per share.
- 2Emphasized the use of 'ongoing earnings' as the primary performance metric for investor communications.
- 3'Ongoing earnings' are defined as GAAP earnings adjusted for certain items.
- 4Management uses 'ongoing earnings' for internal performance measurement against budget and board reporting.
- 5The filing included standard cautionary language regarding forward-looking statements and potential risk factors.
- 6Noted that these statements are based on current expectations and are subject to various external influences.