8-KRegulation FD

AMERICAN ELECTRIC POWER CO INC 8-K Report, Regulation FD Disclosure (Dec 1, 2009)

Filed December 1, 2009For Securities:AEP

Summary

American Electric Power Company, Inc. (AEP) filed an 8-K on December 1, 2009, to disclose information presented to investors during meetings held between December 1-3, 2009. The primary focus of the filing is the reaffirmation of the company's earnings guidance for both the current fiscal year (2009) and the upcoming fiscal year (2010). For the 2009 fiscal year, AEP reaffirmed its ongoing earnings per share guidance to be between $2.90 and $3.05. For the 2010 fiscal year, the company reiterated its ongoing earnings per share guidance of $2.80 to $3.20. The company emphasized that it uses 'ongoing earnings,' which adjusts GAAP earnings for certain items, as its primary performance metric for communicating with stakeholders and for internal performance measurement. The filing also includes standard forward-looking statement disclaimers, outlining various risk factors that could affect actual results.

Key Highlights

  • 1AEP reaffirms 2009 ongoing earnings per share guidance of $2.90 to $3.05.
  • 2AEP reaffirms 2010 ongoing earnings per share guidance of $2.80 to $3.20.
  • 3The company is holding investor meetings from December 1-3, 2009.
  • 4AEP defines and utilizes 'ongoing earnings' as a key performance metric, adjusted from GAAP earnings.
  • 5The filing includes a comprehensive list of risk factors that could impact future financial results.
  • 6The report is primarily a Regulation FD disclosure regarding investor communications.

Frequently Asked Questions

The primary purpose of this 8-K filing is to provide public notice of investor meetings being held by American Electric Power Company, Inc. (AEP) and to reaffirm the company's previously issued earnings per share guidance for both the 2009 and 2010 fiscal years.

AEP reaffirmed its ongoing earnings per share guidance for 2009 to be in the range of $2.90 to $3.05. For 2010, the company reiterated its ongoing earnings per share guidance to be between $2.80 and $3.20.

AEP uses 'ongoing earnings' as its primary performance measurement. It represents GAAP earnings adjusted for certain items, as described in a press release dated November 1, 2009. Management believes this metric provides a more meaningful representation of the company's performance.

The filing lists numerous risk factors, including electric load and customer growth, weather conditions, fuel costs and availability, regulatory decisions, new legislation and litigation (such as environmental regulations and Clean Air Act enforcement actions), economic climate, financial market conditions, and changes in accounting pronouncements.