UPDATE: American Electric Power Q4 Profit Misses Expectations

reported weaker-than-expected results for the fourth quarter. The Columbus, Ohio-based company posted quarterly earnings of $191 million, or $0.39 per share, compared to $346 million, or $0.71 per share, in the year-ago period. Excluding certain items, the company's earnings slipped to $0.48 per share from $0.60 per share. Its revenue climbed 5.3% to $4 billion. However, analysts were expecting earnings of $0.50 per share on revenue of $4.22 billion. In the latest quarter, operating earnings from Vertically Integrated Utilities declined by $56 million, while operating earnings from AEP Transmission Holdco rose by $10 million. Operating earnings from Generation & Marketing slipped by $19 million, while operating earnings from AEP River Operations rose by $8 million in the quarter. American Electric Power reaffirmed its earnings guidance for 2015. "Our solid performance in 2014 reinforces the viability of our earnings growth strategy. Our focus on infrastructure investments in our core, regulated operations, including our transmission business, and on identifying sustainable process improvements, has delivered value for our shareholders,” said Nicholas K. Akins, AEP chairman, president and chief executive officer. American Electric Power shares closed at $64.25 yesterday.