By Ben Glickman
American Electric Power has issued 2024 guidance and outlined a $43 billion five-year capital plan.
The Columbus, Ohio-based utility company said it expects adjusted earnings of $5.53 to $5.73 a share in 2024, compared with the $5.59 a share forecast by analysts.
The company affirmed its 2023 adjusted earnings guidance of $5.24 to $5.34 a share.
AEP said it would invest nearly all of its capital in its regulated businesses as it looks to simplify operations. More than $27 billion of the capital plan will go toward transmission and distribution.
The company reaffirmed its projected long-term growth rate of 6% to 7%.
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