AI-extracted from the 10-Q filed 2026-07-30 — Q2 FY2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
AEP's Q2 2026 revenue rose 7% YoY to $5.45B on transmission investment and data-center-driven load growth, but earnings fell 42% to $713M ($1.30 diluted EPS) mainly because Q2 2025 included a one-time $480M favorable FERC NOLC order benefit.
Biggest Revenue Drivers
Vertically Integrated Utilities$3.05B+4% YoY
Retail revenues rose on higher base rates/riders and weather-normalized commercial and industrial demand growth.
Transmission and Distribution Utilities$1.57B+9% YoY
Retail revenues increased primarily due to higher rider revenues in Ohio and Texas.
Biggest Revenue Drivers
Total revenue: $5.4B+7% YoY
Vertically Integrated Utilities$3.05B+4% YoY
Retail revenues rose on higher base rates/riders and weather-normalized commercial and industrial demand growth.
Transmission and Distribution Utilities$1.57B+9% YoY
Retail revenues increased primarily due to higher rider revenues in Ohio and Texas.
Generation & Marketing$693M+26% YoY
Retail, trading and marketing revenue increased on higher market prices and mark-to-market hedging gains.
Other Revenues$134M-15% YoY
Largest Expense Items
Purchased Electricity, Fuel and Other Consumables$1,603M+4% YoY
Higher energy costs in Generation & Marketing, partially offset by lower fuel costs at APCo and SWEPCo.
Depreciation and Amortization$910M+7% YoY
Higher depreciable base at I&M, PSO and SWEPCo from continued capital investment.
Other Operation$814M+51% YoY
Driven by higher recoverable PJM transmission expenses in Ohio and Texas and increased generation maintenance.
Taxes Other Than Income Taxes$427M+17% YoY
Primarily higher property taxes tied to increased transmission and distribution investment.
Watch Items from the Filing
Q2 2026 income tax expense rose $303 million YoY largely because of a $368 million Excess ADIT impact tied to lapping the June 2025 FERC NOLC order, which also drove the $480 million prior-year earnings benefit.
AEP Texas has executed Letters of Agreement for approximately 45 gigawatts of incremental large load by 2030, including 40 GW under ERCOT's Batch Zero process, with about $2 billion of financial security received in July 2026.
SWEPCo recorded a $31 million charge for a probable partial disallowance of the Pirkey Plant net book value in its 2025 Texas Base Rate Case.
Debt-to-total-capital ratio increased from 60.3% to 61.4% as long-term debt grew to support AEP's $78 billion five-year capital investment plan.
SWEPCo recognized a probable $23 million liability related to credits owed to certain existing wholesale generation customers under current contract negotiations.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
Roberts DarylDirectorGrant or award · Sep 30, 2026
Congress trading in AEP
18 transactions in AEP reported by 9 members of Congress under the STOCK Act, most recent trade Aug 26, 2026. Reported transactions, not recommendations.
About AMERICAN ELECTRIC POWER CO INC (AEP): stock profile, AI score and financials
AMERICAN ELECTRIC POWER CO INC (AEP) stock profile, AI quality score, and SEC EDGAR financial data, a Utilities sector company. 13F Pro's AI-powered ranking engine scores AEP at 69.0/100 on a composite quality score built from its SEC filings, placing it at rank #275 of 2,925 stocks — the top 10% of the AI-ranked universe. AEP scores in the top quartile across revenue scale (93.3), institutional flow (92.2). Based on the latest XBRL financial filings (Q2 2026), AMERICAN ELECTRIC POWER CO INC reports quarterly revenue of $5.4B, net income of $747.0M, an operating margin of 22.9%. AEP trades on the Nasdaq exchange and files with the SEC under CIK 4904. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate AEP daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for AMERICAN ELECTRIC POWER CO INC directly from SEC EDGAR.