8-KRegulation FD

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

Filed September 8, 2009For Securities:AEP

Summary

American Electric Power Company, Inc. (AEP) filed an 8-K on September 8, 2009, primarily to disclose its reaffirance of its previously issued 2009 fiscal year ongoing earnings per share guidance. The company stated that it expects ongoing earnings to be in the range of $2.75 to $3.05 per share for the full fiscal year. This guidance was initially provided in a Form 8-K filed on July 31, 2009, and management reiterated its belief that ongoing earnings, adjusted for certain items, provide a more meaningful measure of the company's performance. The filing also serves as notice that AEP management will be conducting investor meetings between September 8 and September 16, 2009, during which this guidance will be reaffirmed. The report includes a standard disclaimer about forward-looking statements and lists numerous factors that could cause actual results to differ materially from projections, covering a wide range of operational, regulatory, market, and economic conditions.

Key Highlights

  • 1Reaffirmation of 2009 full-year ongoing earnings per share guidance: $2.75 to $3.05.
  • 2Guidance was initially provided on July 31, 2009, and is being reiterated during investor meetings.
  • 3Investor meetings are scheduled to take place from September 8, 2009, to September 16, 2009.
  • 4AEP management emphasizes the importance of 'ongoing earnings' as a key performance metric for investors.
  • 5The filing includes a comprehensive list of risk factors that could impact future financial results.
  • 6Standard cautionary language regarding forward-looking statements is present.

Frequently Asked Questions

The primary purpose of this 8-K filing is to reaffirm American Electric Power's (AEP) previously issued guidance for its 2009 fiscal year ongoing earnings per share, which is expected to be between $2.75 and $3.05.

AEP management will be conducting investor meetings between September 8, 2009, and September 16, 2009, during which they will reaffirm the earnings guidance.

AEP defines 'ongoing earnings' as GAAP earnings adjusted for certain items, which management believes provides a more meaningful representation of the company's performance. This metric is used internally and externally for performance measurement and outlook communication.

The filing lists a broad range of risks, including factors such as electric load growth, weather conditions, fuel costs and availability, regulatory decisions (including rate cases and environmental compliance), litigation, economic climate in its service territory, and volatility in energy and financial markets.