American Electric Power

AEP · Utilities · Market cap $69.6B

Q1 FY26 Jan 1 – Mar 31, 2026 reported May 5, 2026

Revenue$6B +10% year over year

Gross profit$3.9B

Operating profit$1.4B

Net profit$0.9B 15% margin

Numbers and detail

All figures in billions of U.S. dollars, for Q1 FY26 (period ends Mar 31, 2026).
Item	Value	Share of revenue	Year over year
Revenue	6	100%	+10%
Residential	2.1	35%
Transmission and Distribution…	1.6	27%
Generation and Marketing	0.9	15%	+28%
Marketing Competitive Retail and…	0.7	12%	−9%
Wholesale Generation	0.4	7%	+16%
Product and Service Other	0.2	3%	+20%
Other Retail	0.1	2%	+7%
Cost of revenue	−2.1	35%
Gross profit	3.9	65% margin	−1pp
Operating expenses	−2.5	42%	+0pp
Operating profit	1.4	23% margin	−1pp
Interest & other costs	−0.5
Net profit	0.9	15%	+0pp

All figures in billions of U.S. dollars, for Q4 FY25 (period ends Dec 31, 2025).
Item	Value	Share of revenue	Year over year
Revenue	5.3	100%	+13%
Transmission and Distribution…	1.5	28%	+4%
Wholesale and Competitive	1.3	25%	+19%
Industrial	0.8	15%
Generation and Marketing	0.7	13%
Marketing Competitive Retail and…	0.6	11%	+32%
Wholesale Transmission	0.4	8%	−10%
Cost of revenue	−1.7	32%
Gross profit	3.7	69% margin	−3pp
Operating expenses	−2.5	48%	+0pp
Operating profit	1.1	21% margin	−2pp
Tax	−0.1
Interest & other costs	−0.4
Net profit	0.6	11%	−3pp

All figures in billions of U.S. dollars, for Q3 FY25 (period ends Sep 30, 2025).
Item	Value	Share of revenue	Year over year
Revenue	6	100%	+11%
Residential	2.2	37%
Wholesale and Competitive	1.3	22%	+18%
Commercial	1.3	22%	+10%
Industrial	0.8	13%	+3%
Wholesale Generation	0.3	5%
Cost of revenue	−2	33%
Gross profit	4	67% margin	−2pp
Operating expenses	−2.5	42%	−33pp
Operating profit	1.5	25% margin	+0pp
Tax	−0.1
Interest & other costs	−0.4
Net profit	1	17%	−1pp

All figures in billions of U.S. dollars, for Q2 FY25 (period ends Jun 30, 2025).
Item	Value	Share of revenue	Year over year
Revenue	5.1	100%	+11%
Residential	1.6	31%	+3%
Commercial	1.2	24%
Industrial	0.8	16%
Generation and Marketing	0.6	12%	+25%
Marketing Competitive Retail and…	0.5	10%	+13%
Wholesale Generation	0.3	6%
Other Retail	0.1	2%	+7%
Cost of revenue	−1.5	29%
Gross profit	3.5	70% margin	+0pp
Operating expenses	−2.1	42%	−43pp
Operating profit	1.4	28% margin	+13pp
Interest & other costs	−0.4
Net profit	1.3	25%	+18pp

Quarter by quarter

Pick a quarter and the diagram above changes. Bars compare revenue across the quarters we hold.

Quarter	Period	Reported	Revenue	Year over year	Operating margin	Net profit	Net margin
Q1 FY26	Jan 1 – Mar 31, 2026	May 5, 2026	$6B	+10%	23%	$0.9B	15%
Q4 FY25	Oct 1 – Dec 31, 2025	Feb 12, 2026	$5.3B	+13%	21%	$0.6B	11%
Q3 FY25	Jul 1 – Sep 30, 2025	Oct 29, 2025	$6B	+11%	25%	$1B	17%
Q2 FY25	Apr 1 – Jun 30, 2025	Jul 30, 2025	$5.1B	+11%	27%	$1.3B	25%