Summary
American Electric Power Company, Inc. (AEP) filed an 8-K on September 20, 2010, to inform investors that the company would be reaffirming its previously issued full-year 2010 guidance for "ongoing earnings" of $2.80 to $3.20 per share. This guidance was initially provided on July 30, 2010. The company emphasizes that it uses "ongoing earnings," which are GAAP earnings adjusted for certain items, as its primary performance metric when communicating with analysts and investors, and also for internal performance measurement and reporting to the board of directors. While the filing does not introduce new financial figures or strategic shifts, it serves as a confirmation of AEP's financial outlook during a period of investor meetings. Investors should note that the company explicitly states its forward-looking statements are subject to various risks and uncertainties, including factors like economic conditions, regulatory changes, fuel costs, and operational performance, which could materially impact actual results.
Key Highlights
- 1AEP reaffirms its 2010 "ongoing earnings" guidance of $2.80 to $3.20 per share.
- 2The reaffirmation occurred during investor meetings held between September 20 and September 29, 2010.
- 3The company uses "ongoing earnings" as its primary performance metric for external and internal reporting.
- 4"Ongoing earnings" are defined as GAAP earnings adjusted for certain items.
- 5The filing serves as a notification of the reaffirmed guidance, not as an introduction of new financial information.
- 6The report includes a detailed disclaimer about forward-looking statements and associated risks.