Summary
American Electric Power Company, Inc. (AEP) filed this 8-K report on January 7, 2010, to disclose information shared during investor meetings held between January 7 and January 11, 2010. The primary purpose of the filing was to reaffirm AEP's previously issued earnings guidance for both the fiscal year 2009 and the upcoming fiscal year 2010. This communication is particularly relevant for investors as it provides a direct update on the company's financial outlook and reinforces management's confidence in its performance projections. Specifically, AEP confirmed its ongoing earnings per share guidance for 2009 to be between $2.90 and $3.05, a figure first stated in an October 29, 2009 filing. For the 2010 fiscal year, the company reaffirmed its guidance of $2.80 to $3.20 per share, initially provided in an 8-K filing on December 1, 2009. The report also clarifies that AEP utilizes "ongoing earnings" (GAAP earnings adjusted for certain items) as its preferred metric for performance measurement and investor communication, believing it offers a more meaningful representation of the company's operational 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.
- 3Guidance was reaffirmed during investor meetings conducted from January 7 to January 11, 2010.
- 4The company emphasizes its use of "ongoing earnings" (adjusted GAAP earnings) as a key performance metric.
- 5Ongoing earnings are used internally for performance measurement and externally in communications with analysts and investors.
- 6The report includes standard forward-looking statements and a disclaimer about potential variations from projections due to various market and operational factors.