American Electric Power Unveils $100 Billion Five-Year Capital Plan

American Electric Power reported third-quarter adjusted earnings per share of $2.23, exceeding analyst expectations of $2.02. Quarterly revenue rose 13.7% year-over-year to $6.83 billion, though this figure fell short of the $6.57 billion consensus estimate.

Following the results, the company raised its full-year 2026 outlook, projecting adjusted earnings to meet or exceed the high end of its $6.25 to $6.55 per share range. It also provided financial guidance for 2027 and 2028.

To address increasing energy demands, the utility unveiled a $100 billion five-year capital plan extending through 2031. This strategy targets a rate base compound annual growth rate of over 13%. The company also signed 15 gigawatts of new load commitments during the third quarter, bringing its total incremental contracted load to an expected 84 gigawatts by 2031.