← Who reports today · Utilities
AEP · Q2 2026
Archived report (Q2 2026). Latest deep dive →
The quarter in brief
Revenue grew 7.0% y/y to $5.45B, operating margin 22.9% vs 27.5%, net income $747M (−42.0% y/y).
Net income
$747M
down 42.0% y/y
Total revenues
$5,445M
up 7.0% y/y
Operating income
$1,247M
down 10.9% y/y
All figures in $M.
| Line item | Amount and change |
|---|---|
| Vertically Integrated Utilities | $3,050 · +4.0% |
| Transmission and Distribution Utilities | $1,568 · +8.7% |
| Generation & Marketing | $693 · +25.5% |
| Other Revenues | $134 · −15.2% |
| Total revenues | $5,445 · +7.0% |
| Purchased Electricity, Fuel and Other Consumables Used for Electric Generation | $1,603 · +4.0% |
| Other Operation | $814 · +51.3% |
| Maintenance | $444 · +13.8% |
| Depreciation and Amortization | $910 · +6.6% |
| Taxes Other Than Income Taxes | $427 · +17.0% |
| Operating income | $1,247 · −10.9% · 22.9% margin |
| Other Income | $14 · −6.7% |
| Allowance for Equity Funds Used During Construction | $75 · +31.6% |
| Non-Service Cost Components of Net Periodic Benefit Cost | $19 · −45.7% |
| Interest Expense | $585 · +19.6% |
| Income before income tax expense (benefit) and equity earnings | $770 · −24.3% |
| Income Tax Expense (Benefit) | $52 · vs −$251 · 6.8% effective rate |
| Equity Earnings of Unconsolidated Subsidiaries | $29 · +38.1% |
| Net income | $747 · −42.0% · $1.30/sh · 13.7% margin |
Verdict: revenue grew 7.0% y/y to $5.45B, operating margin 22.9% vs 27.5%, net income $747M (−42.0% y/y).
Source and notation
Source: American Electric Power Form 10-Q filed 07/30/2026 (SEC EDGAR); results date from the 8-K of 07/30/2026. The press release has no income statement, so every figure was matched against the income statement in the 10-Q and checked against the company's 10-Q.
Open as an image: AEP, Q2 2026 (PNG) ↗ · for sharing and presentations · free to reuse, CC BY 4.0
Cite / embed this chart
Free to use in articles, research and social posts with credit to Who Reports Today and a link — licensed under CC BY 4.0 (terms).
Chart: “AEP Q2 2026: where the revenue went” by Who Reports Today, https://whoreportstoday.com/t/aep/q2-2026. Licensed under CC BY 4.0.
<figure> <a href="https://whoreportstoday.com/t/aep/q2-2026"><img src="https://whoreportstoday.com/t/aep/q2-2026/sankey.png" alt="AEP Q2 2026: where the revenue went" loading="lazy" style="max-width:100%;height:auto"></a> <figcaption>Source: <a href="https://whoreportstoday.com/t/aep/q2-2026">Who Reports Today</a>, licensed under <a href="https://creativecommons.org/licenses/by/4.0/">CC BY 4.0</a></figcaption> </figure>
https://whoreportstoday.com/t/aep/q2-2026/sankey.png
<a href="https://whoreportstoday.com/t/aep/q2-2026">AEP Q2 2026 earnings chart (Who Reports Today)</a>
This is an archived report: the image at this link won’t change. If you change the chart (crop, translate), say so in the credit. Company logos and trademarks are not covered by the license.
- Operating income was $1.25B, a 22.9% margin vs 27.5% a year earlier.
- Diluted EPS was $1.30 vs $2.29 a year earlier.
What distorts the picture in this report and what to watch beyond the headlines.
AEP — an electric utility holding company whose subsidiaries generate, transmit and distribute electricity to retail customers in parts of 11 states, from Ohio and Virginia to Texas and Louisiana, and own transmission lines.
It reports four segments: Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing (competitive wholesale and retail power). · Source: annual report (Form 10-K, SEC)
Heads-up
- net income fell 42% y/y in Q2 2026
Net income for Q2 2026: $747M, −42% y/y. In the report's figures: costs grew faster than revenue: other operation +51% y/y, interest expense +20% y/y, taxes other than income taxes +17% y/y. Based on the Q2 2026 report.
The company's report ↗More reports: AES · Q2 2026 · ATO · Q3 FY2026 · AWK · Q2 2026 · CEG · Q2 2026 · CMS · Q3 2026 · CNP · Q3 2026 · D · Q3 2026 · DTE · Q2 2026 · DUK · Q2 2026 · ED · Q2 2026 · all reports