American Electric Power (AEP) has recorded an 18% increase in earnings for the third quarter compared to the same period last year.
AEP’s earnings for Q3 2009 were $443m compared to $374m for Q3 2008.
The coal-fired electricity producer’s earnings for the first nine months of 2009 as per GAAP were $1.1bn compared to $1.2bn for the corresponding period last year.
AEP’s revenue in Q3 2009 declined by 17% to $3.5bn compared to $4.2bn for Q3 2008.
For the initial nine months of 2009 the company’s revenue stood at $10.2bn, representing a 9% drop compared to $11.2bn in the same period last year.