Filing Flows › American Electric Power (AEP) › Q1 2026 › vs Q1 2025
American Electric Power (AEP) Q1 2026 vs Q1 2025 (year over year)
American Electric Power's revenue rose $557M (+10%) from $5.5B in Q1 2025 to $6.0B in Q1 2026. The biggest changes: Total Retail Revenues +$429M (+11%); Other Revenues +$42.0M (+36%); Total Wholesale and Competitive Retail Revenues +$40.0M (+3%). Operating margin 22.6% against 23.5% (-0.9 pts).
American Electric Power, Q1 2026: revenue $6.0B (+10% year over year), operating margin 22.6%, net earnings $874M, operating cash flow $1.5B. The chart draws each line against Q1 2025, the increases inside each band.
Margins
| Q1 2026 | Q1 2025 | Change | |
|---|---|---|---|
| Operating margin | 22.6% | 23.5% | -0.9 pts |
| Net margin | 14.5% | 14.6% | -0.1 pts |
Every line
| Line | Q1 2026 | Q1 2025 | Change | % |
|---|---|---|---|---|
| Electric Transmission and Distribution | $1.6B | $1.5B | $79.0M | +5% |
| Generation & Marketing | $931M | $730M | $201M | +28% |
| Industrial Revenues | $777M | $741M | $36.0M | +5% |
| Transmission Revenues | $444M | $389M | $55.0M | +14% |
| Generation Revenues | $414M | $356M | $58.0M | +16% |
| Total Retail Revenues | $4.2B | $3.7B | $429M | +11% |
| Total Wholesale and Competitive Retail Revenues | $1.6B | $1.6B | $40.0M | +3% |
| Other Revenues | $158M | $116M | $42.0M | +36% |
| Other Retail Revenues | $74.0M | $69.0M | $5.0M | +7% |
| Revenue | $6.0B | $5.5B | $557M | +10% |
| Operating profit | $1.4B | $1.3B | $76.0M | +6% |
| Costs & expenses | $4.7B | $4.2B | $481M | +12% |
| Pre-tax earnings | $947M | $927M | $20.0M | +2% |
| Other expense, net | $413M | $357M | $56.0M | +16% |
| Cost of revenue | $2.1B | $1.9B | $265M | +14% |
| Other operating costs | $2.5B | $2.3B | $216M | +9% |
| Net earnings | $874M | $800M | $74.0M | +9% |
| Minority interests | $29.0M | $2.0M | $27.0M | 14× |
| Income tax | $44.0M | $125M | −$81.0M | -65% |
| Working capital & other | $645M | $650M | −$5.0M | -0.8% |
| Operating cash flow | $1.5B | $1.4B | $69.0M | +5% |
| Capital expenditures | $2.8B | $2.1B | $730M | +35% |
| Negative free cash flow (OCF − capex) | $1.3B | $650M | $661M | +102% |
Questions
How much did American Electric Power's revenue grow year over year in Q1 2026?
American Electric Power's revenue rose $557M (+10%) from $5.5B in Q1 2025 to $6.0B in Q1 2026.
What drove American Electric Power's revenue change in Q1 2026?
Total Retail Revenues +$429M (+11%); Other Revenues +$42.0M (+36%); Total Wholesale and Competitive Retail Revenues +$40.0M (+3%).