AEP reports Q1 2026 operating EPS of $1.64, raises 5-year capital plan to $78B amid strong demand growth.

American Electric Power (AEP) announced first-quarter 2026 operating earnings of $1.64 per share, up from $1.54 in Q1 2025, reaffirming its full-year 2026 guidance of $6.15 to $6.45 per share. The company is expanding its five-year capital investment plan to $78 billion, driven by accelerating demand and new load agreements expected to reach 63 gigawatts by 2030. This growth is supported by significant transmission projects and new generation capacity, particularly in Texas, Ohio, and Indiana, with an expected operating earnings CAGR above 9% through 2030. AEP also plans cost offsets of up to $16 billion for existing customers, focusing on affordability while leveraging federal grants and loan guarantees to strengthen the electric grid.