Summary
This 8-K filing from American Electric Power (AEP) on November 30, 2010, primarily serves as a notification to investors regarding upcoming investor meetings. During these meetings, AEP intends to reaffirm its previously issued earnings guidance for both the 2010 and 2011 fiscal years. Specifically, the company will reiterate its 2010 ongoing earnings per share forecast of $2.95 to $3.05 and its 2011 ongoing earnings per share forecast of $3.00 to $3.20. AEP emphasizes that it uses 'ongoing earnings' (GAAP earnings adjusted for certain items) as its primary measure of performance for communicating with stakeholders and for internal performance evaluation. The filing also includes a comprehensive list of risk factors that could materially affect the company's actual future results. These risks range from regulatory and legislative changes, operational challenges, fuel costs, environmental compliance, litigation, and broader economic and financial market conditions. Investors should note that AEP explicitly disclaims any obligation to update this forward-looking information.
Key Highlights
- 1AEP is reaffirming its 2010 ongoing earnings per share guidance of $2.95 to $3.05.
- 2AEP is reaffirming its 2011 ongoing earnings per share guidance of $3.00 to $3.20.
- 3The company will be conducting investor meetings from November 30, 2010, through December 15, 2010.
- 4AEP uses 'ongoing earnings' as its primary performance metric for investor communications and internal reporting.
- 5The filing lists numerous forward-looking risk factors that could impact actual financial results.
- 6AEP explicitly states it has no obligation to update forward-looking statements.