Filing Flows › American Electric Power (AEP) › Q1 2026
American Electric Power (AEP) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 5, 2026
American Electric Power (AEP) reported revenue of $6.0B for the first quarter 2026 (Q1 2026), +10% from a year earlier and +13% from the quarter before. Operating margin was 22.6%, net earnings $874M (14.5% of revenue).
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 follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $6.0B | +13% | +10% |
| Operating profit | $1.4B | +22% | +6% |
| Net earnings | $874M | +50% | +9% |
| Operating cash flow | $1.5B | -16% | +5% |
What changed
Revenue was $6.0B in Q1 2026, up 10% year over year and up 13% from the previous quarter. Total Wholesale and Competitive Retail Revenues was the largest line at 27% of revenue. Generation & Marketing added $0.20B year over year (up 28%), 36% of the total change.
Operating profit was $1.4B, a 22.6% margin (down 0.9 points year over year). Of the extra revenue versus Q1 2025, 14% reached operating profit, below the 24% margin then. Total costs grew 12% against revenue growth of 10%. The fastest-growing cost line was Cost of revenue (+14%). Net earnings were $0.87B, up 9% year over year. The effective tax rate was 4.6%.
Operating cash flow was $1.5B (up 5% year over year), 168% of net income including minority interests. Working capital and other items added $0.62B. Capital expenditures of $2.8B exceeded it, leaving free cash flow of −$1.3B.
Questions
What was American Electric Power's revenue in the first quarter 2026?
American Electric Power (AEP) reported revenue of $6.0B for the first quarter 2026 (Q1 2026), +10% from a year earlier and +13% from the quarter before.
Was American Electric Power profitable in the first quarter 2026?
Operating profit was $1.4B (22.6% of revenue) and net earnings $874M.