- American Electric Power Company (AEP) Beats Profit and Revenue Estimates in Q1
May 11, 2026
American Electric Power Company, Inc. (NASDAQ:AEP) is included among the 12 Best Electric Utility Stocks to Buy for the Data Center Surge.American Electric Power Company (AEP) Beats Profit and Revenue Estimates in Q1
American Electric Power Company, Inc. (NASDAQ:AEP) is one of the nation’s largest electricity producers with approximately 29,000 megawatts of diverse generating capacity.
American Electric Power Company, Inc. (NASDAQ:AEP) reported strong results for its Q1 2026 on May 5. The company posted an adjusted profit of $1.64 per share, up from $1.54 in the same period last year, and beat estimates by $0.07. The utility also grew its revenue by over 10% YoY to $6 billion and exceeded forecasts by $251 million.
AEP contracted an additional 7 GW of load in the first quarter, and the company’s incremental load is expected to grow to 63 GW by 2030, up from the 56 GW it shared previously. Nearly 90% of this expected incremental contracted load is from data centers, including hyperscalers. As a result, the utility raised its five-year capital investment plan to $78 billion, up from the prior $72 billion.
American Electric Power Company, Inc. (NASDAQ:AEP) reaffirmed its full-year 2026 operating earnings guidance of $6.15 to $6.45 per share. The company also reiterated its premium operating earnings growth rate target of 7% to 9% for 2026 through 2030. Moreover, given its boosted capital investment plan, AEP increased its expected long-term operating earnings CAGR to greater than 9%.
While we acknowledge the potential of AEP as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: 10 Best Electrical Infrastructure Stocks to Buy According to Hedge Funds and 10 Best Fortune 500 Stocks to Buy According to Analysts
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- 12 out of 14 utility stocks deliver EPS wins this week: Earnings Scorecard
May 9, 2026
[Electricity pylons at sunset]
James O'Neil
Out of the 14 S&P 500 utilities companies that reported their quarterly results this week, 12 surpassed earnings expectations. On the revenue front, 11 companies beat Wall Street forecasts, while three missed.
The State Street Utilities Select Sector SPDR ETF (XLU [https://seekingalpha.com/symbol/XLU]) rose 4.8% year-to-date, compared to the S&P 500’s (SP500 [https://seekingalpha.com/symbol/SP500#hasComeFromMpArticle=false#source=section%3Amain_content%7Cbutton%3Abody_link%7Cfirst_level_url%3Anews]) 8% gain.
BELOW ARE THE LATEST QUARTERLY REPORTS FROM FIVE INDUSTRY GIANTS:
* AEP (AEP [https://seekingalpha.com/symbol/AEP]) outlined [https://seekingalpha.com/news/4586479-aep-outlines-78b-capital-plan-and-targets-7-percentminus-9-percent-earnings-growth-through]$78B capital plan and targets 7%-9% earnings growth through 2030 while reaffirming $6.15-$6.45 EPS for 2026.
* Duke Energy (DUK [https://seekingalpha.com/symbol/DUK]) reaffirmd [https://seekingalpha.com/news/4585867-duke-energy-reaffirms-6_55-6_80-2026-eps-range-targets-top-half-5-percentminus-7-percent]$6.55-$6.80 2026 EPS range, targets top-half 5%-7% growth from 2028 as ESAs reach 7.6 GW.
* Sempra (SRE [https://seekingalpha.com/symbol/SRE]), meanwhile, missed [https://seekingalpha.com/news/4588918-sempra-affirms-2026-adjusted-eps-4_80-5_30-while-targeting-si-partners-close-in-q2-q3-2026]top-line estimates. It also affirmed the full year 2026 adjusted EPS guidance range of $4.80 to $5.30 and the 2027 EPS guidance range of $5.10 to $5.70.
* NiSource (NI [https://seekingalpha.com/symbol/NI]) signaled a [https://seekingalpha.com/news/4587885-nisource-signals-9-percent-to-10-percent-eps-cagr-through-2033-as-it-raises-2033-genco-eps-to]9% to 10% EPS CAGR through 2033 as it raised 2033 GenCo EPS to $0.40-$0.60. NiSource also reaffirmed its 2026 non‑GAAP consolidated adjusted EPS guidance of $2.02-$2.07.
* Eversource (ES [https://seekingalpha.com/symbol/ES]) outlined [https://seekingalpha.com/news/4589363-eversource-outlines-revised-2026-non-gaap-eps-of-4_57-4_72-amid-ferc-roe-reset-to-9_57]revised 2026 non-GAAP EPS of $4.57-$4.72 amid FERC ROE reset to 9.57%. Eversource expects [https://seekingalpha.com/news/4587557-eversource-energy-gaap-eps-of-1_61-beats-by-0_05-revenue-of-4_5b-beats-by-170m]annual earnings growth towards the upper half of its long-term guidance by 2028.
MORE ON STATE STREET UTILITIES SELECT SECTOR SPDR ETF
* Finding The Opportunities After The Selloff And End Of The War [https://seekingalpha.com/article/4887934-finding-opportunities-after-selloff-and-end-of-war]
* GUT Is Good, But XLU Is Better [https://seekingalpha.com/article/4886712-gut-is-good-but-xlu-is-better]
* XLU: Why It Is A Good Time To Take Profits [https://seekingalpha.com/article/4880205-xlu-why-it-is-a-good-time-to-take-profits]
* Data center surge pushes PJM to rethink power market structure [https://seekingalpha.com/news/4587179-data-center-surge-pushes-pjm-to-rethink-power-market-structure]
* Weekly ETFs: Eight of 11 sectors record outflows; financial sector leads inflows [https://seekingalpha.com/news/4585699-weekly-etfs-eight-of-11-sectors-record-outflows-financial-sector-leads-inflows]
- Scotiabank Raises its Price Target on American Electric (AEP) to $140
May 9, 2026
American Electric Power Company, Inc. (NASDAQ:AEP) is one of the
15 Best Power Generation Stocks To Buy For Data Center Demand.
On May 6, 2026, Scotiabank raised its price target on American Electric Power Company, Inc. (NASDAQ:AEP) to $140 from $131 previously and maintained a Sector Perform rating on the shares. The firm pointed to the company’s “robust” EPS growth outlook, which was again increased to a greater-than-9% CAGR following recently announced capital projects.
On May 5, 2026, American Electric Power Company, Inc. (NASDAQ:AEP) reported Q1 operating EPS of $1.64, above the $1.57 consensus estimate, while revenue came in at $5.46B versus $5.72B expected. Chief Executive Officer Bill Fehrman said AEP continues executing on its strategic plan while maintaining a focus on affordability amid rising demand growth, particularly from data centers and other large-load customers.Scotiabank Raises its Price Target on American Electric (AEP) to $140
Dmitry Kalinovsky/Shutterstock.com
American Electric Power Company, Inc. (NASDAQ:AEP) also said that it continues to expect FY26 operating EPS in the range of $6.15 to $6.45 per share.
American Electric Power Company, Inc. (NASDAQ:AEP) generates, transmits, and distributes electricity to retail and wholesale customers in the United States.
While we acknowledge the potential of AEP as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: 33 Stocks That Should Double in 3 Years and Cathie Wood 2026 Portfolio: 10 Best Stocks to Buy.
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- AEP Names Andy Gurgol Vice President of Investor Relations
May 8, 2026
Darcy Reese to Retire at End of Year
COLUMBUS, Ohio, May 8, 2026 /PRNewswire/ -- American Electric Power (Nasdaq: AEP) has named Andy Gurgol vice president of Investor Relations, effective May 9. He will succeed Darcy Reese, who will retire at the end of the year. Gurgol will report to Trevor Mihalik, executive vice president and chief financial officer.
"I am thrilled that Andy joined the AEP team this year, bringing his experience in corporate development and strategy to the finance organization," Mihalik said. "This is an exciting time for AEP as we work to seize the extraordinary growth opportunities ahead of us, and I believe Andy will excel at communicating our vision for the future to the investor community."
Gurgol joined AEP in January 2026 as managing director, Corporate Strategy and Development. Prior to joining AEP, he spent nearly 14 years working in the utility and energy infrastructure sectors. Gurgol worked at Sempra for nearly a decade, where he held progressive leadership roles, including director, Corporate Development and Strategy. In this role, he was responsible for M&A and strategy development across the enterprise. Earlier in his career, Gurgol worked at NextEra Energy, leading economic and strategic analyses for over $1.5 billion in renewable energy investments. He began his career with FirstEnergy in its financial forecasting and analytics department.
In addition to his time working in the utility sector, Gurgol worked at the World Resources Institute, where he served as senior manager of Conservation Finance. In this role, he led initiatives in partnership with utilities, private sector companies, and federal and state agencies to deploy investments in environmental restoration projects that mitigate catastrophic wildfire risk, strengthen infrastructure and community resilience, and generate attractive financial returns.
Gurgol holds a finance degree from the University of Toledo.
"Communicating AEP's strategy to execute and deliver on the tremendous growth plans ahead will be critical as we invest $78 billion in our system through 2030," Gurgol said. "I look forward to meeting our investors and analysts over the next several months to begin building our relationships."
Since 2020, Reese has led AEP's investor relations team, overseeing shareholder engagement, guiding the quarterly earnings narrative, and directing the company's annual meeting of shareholders.
After more than 35 years in finance and accounting, Reese plans to retire at the end of 2026. She will continue to lead AEP's investor relations efforts until that time.
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"Darcy has been an outstanding advocate for AEP with our investor community," Mihalik added. "She has been an integral member of our finance team, and her contributions to AEP have helped us grow into the company we are today. We wish Darcy and her family the best when she embarks on her next chapter at the end of the year."
ABOUT AEP
American Electric Power (Nasdaq: AEP) is committed to improving our customers' lives with reliable, affordable power. We plan to invest $78 billion from 2026 through 2030 to enhance service for customers and support the growing energy needs of our communities. Our nearly 18,000 employees operate and maintain the nation's largest electric transmission system with 40,000 line miles, along with more than 252,000 miles of distribution lines to deliver energy to 5.6 million customers in 11 states. AEP also is one of the nation's largest electricity producers with approximately 32,000 megawatts of diverse owned and contracted generating capacity. We are focused on safety and operational excellence, creating value for our stakeholders and bringing opportunity to our service territory through economic development and community engagement. Our family of companies includes AEP Ohio, AEP Texas, Appalachian Power (in Virginia, West Virginia and Tennessee), Indiana Michigan Power, Kentucky Power, Public Service Company of Oklahoma, and Southwestern Electric Power Company (in Arkansas, Louisiana, east Texas and the Texas Panhandle). AEP also owns AEP Energy, which provides innovative competitive energy solutions nationwide. AEP is headquartered in Columbus, Ohio. For more information, visit aep.com.(PRNewsfoto/American Electric Power)Cision
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- AEP Names Andy Gurgol Vice President of Investor Relations
May 8, 2026 · prnewswire.com
Darcy Reese to Retire at End of Year COLUMBUS, Ohio, May 8, 2026 /PRNewswire/ -- American Electric Power (Nasdaq: AEP) has named Andy Gurgol vice president of Investor Relations, effective May 9. He will succeed Darcy Reese, who will retire at the end of the year.
- AEP NAMES ANDY GURGOL VICE PRESIDENT OF INVESTOR RELATIONS
May 8, 2026
DARCY REESE TO RETIRE AT END OF YEAR COLUMBUS, OHIO, MAY 8, 2026 /PRNEWSWIRE/ -- AMERICAN ELECTRIC POWER (NASDAQ: AEP) HAS NAMED ANDY GURGOL VICE PRESIDENT OF INVESTOR RELATIONS, EFFECTIVE MAY 9. HE WILL SUCCEED DARCY REESE, WHO WILL RETIRE AT THE END OF THE YEAR.
- How Investors Are Reacting To American Electric Power (AEP) Data Center Demand And US$78 Billion Grid Plan
May 7, 2026
In early May 2026, American Electric Power Company, Inc. reported first-quarter results showing higher revenue of US$6.02 billion and net income of US$874 million year over year, reaffirmed its 2026 operating EPS guidance of US$6.15–US$6.45, and maintained its long-running quarterly dividend of US$0.95 per share. Beyond the headline earnings, AEP highlighted rapidly growing contracted data center demand out to 2030 and lifted its five-year capital plan to US$78.00 billion, underscoring how large-scale grid and generation investments are reshaping its role in serving hyperscale and AI loads. Now we’ll examine how AEP’s US$78.00 billion capital plan and data center-driven demand backlog influences its existing investment narrative.
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American Electric Power Company Investment Narrative Recap
An investor in American Electric Power needs to believe that large, long-term data center contracts can support a much bigger grid and generation footprint while staying acceptable to regulators and customers. The near term catalyst is how quickly AEP can convert its US$78.00 billion capital plan into approved, recoverable projects, while the biggest risk remains regulatory and political pushback around tariffs, cost allocation and market participation. The latest earnings beat and guidance reaffirmation do not materially change that balance.
Among the recent developments, the declaration of AEP’s 464th consecutive quarterly dividend at US$0.95 per share stands out in the context of such an aggressive capital plan. For many shareholders, that long dividend record is part of the appeal, so sustaining it alongside higher spending and potential financing needs will be watched closely as management pursues the data center driven build out.
But even with these positives, investors should be aware that AEP’s growing dependence on large commercial loads and evolving market structures could...
Read the full narrative on American Electric Power Company (it's free!)
American Electric Power Company's narrative projects $27.2 billion revenue and $4.3 billion earnings by 2029. This requires 7.5% yearly revenue growth and about a $0.7 billion earnings increase from $3.6 billion today.
Uncover how American Electric Power Company's forecasts yield a $141.38 fair value, a 7% upside to its current price.
Exploring Other PerspectivesAEP 1-Year Stock Price Chart
Four fair value estimates from the Simply Wall St Community span roughly US$107 to US$141 per share, showing how differently individual investors see AEP today. You can weigh those views against AEP’s enlarged US$78.00 billion capital plan and the regulatory and financing risks around executing it, and then explore how that might influence your own expectations for the company’s performance.
Story Continues
Explore 4 other fair value estimates on American Electric Power Company - why the stock might be worth 19% less than the current price!
Reach Your Own Conclusion
Disagree with existing narratives? Extraordinary investment returns rarely come from following the herd, so go with your instincts.
A great starting point for your American Electric Power Company research is our analysis highlighting 4 key rewards and 2 important warning signs that could impact your investment decision. Our free American Electric Power Company research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate American Electric Power Company's overall financial health at a glance.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Companies discussed in this article include AEP.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
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- Icahn Enterprises L.P. Q1 2026 Earnings Call Summary
May 6, 2026
Icahn Enterprises L.P. Q1 2026 Earnings Call Summary - Moby
Strategic Performance and Portfolio Drivers
Management attributes the $201 million increase in Net Asset Value (NAV) primarily to a $605 million gain in the long position in CVI, reflecting favorable energy market dynamics. The Investment segment's performance was significantly impacted by $320 million in losses on refining hedges, which management views as a byproduct of major geopolitical volatility. The Energy segment's refining margins were weighed down by higher Renewable Fuel Standard (RFS) obligation costs and unrealized derivative losses despite solid crude utilization of 97%. Automotive segment performance is being driven by a strategic shift toward store closures and pricing adjustments, resulting in a 2% increase in same-store sales despite lower total revenue. Pharma segment results were negatively impacted by generic competition in the anti-obesity market and increased R&D spending for ongoing pivotal drug trials. Food Packaging and Home Fashion segments faced operational headwinds from restructuring plans, softening retail demand, and supply chain disruptions in the Strait of Hormuz. Management emphasizes a 'high-grading' of the Investment Fund portfolio and a focus on maintaining a significant 'war chest' for opportunistic capital allocation.
Strategic Outlook and Growth Assumptions
Management expects CVI to be well positioned for potential future debt reductions and capital returns to shareholders, supported by global tightness in refined products. The Pharma segment anticipates a significant milestone with the first patient dosing for the PAH drug trial expected within the next 60 to 90 days. Investment in AEP is predicated on the AI infrastructure build, with management highlighting a long-term operating earnings CAGR target of greater than 9% through 2030. The company maintains a net short notional exposure of 29% at the funds, reflecting a cautious or defensive posture relative to broader market volatility. Strategic priorities include continuing the portfolio optimization at IFF and leveraging the potential IPO of SpaceX as a catalyst for the Echostar position.
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Structural Changes and Risk Factors
The company underwent a leadership transition with Ted Papapostolou succeeding Andrew Teno as CEO and Robert Flint assuming the CFO role. Real Estate segment results were bolstered by $18 million in adjusted EBITDA, largely driven by the internal transfer of assets from the Automotive segment. The Board declared an unchanged distribution of $0.50 per depositary unit, maintaining the existing capital return policy. Liquidity remains a core focus, with $2.8 billion held at the holding company level to capitalize on market opportunities outside existing operating segments.
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Q&A Highlights
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- Biggest US Grid Must Redesign to Cope With AI Boom, CEO Says
May 6, 2026
(Bloomberg) -- The biggest US power grid needs a revamp to cope with the unprecedented surge in electricity demand stemming from the data-center boom, said Chief Executive Officer David Mills.
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As currently structured, PJM Interconnection LLC, which serves 67 million people across 13 states, can’t ensure ample electricity supplies while simultaneously shielding residential consumers from soaring bills, Mills wrote in a letter to stakeholders.
“The current situation is not tenable,” Mills wrote in the letter published Wednesday. The “stress now visible in prices, reserve margins and investment pipelines reflects something more fundamental than a design that needs recalibration.”
The crises stressing PJM include looming power shortages expected to hit the grid as soon as next year and the threatened defection of one of the largest US utilities — American Electric Power Co.
Skyrocketing household electricity bills and the influx of power-hungry data centers have become electoral issues in some locales. Power costs have jumped across the PJM region, with rates climbing 51% in Maryland in the past five years and 41% in Illinois during that period, according to a US Chamber of Commerce report released on Tuesday.
“The region has years, not decades, to make these choices deliberately,” Mills wrote.
A policy paper put forward alongside Mills’ letter outlined three potential paths to mitigate a “credibility gap” between the need for high prices to entice power-plant construction and protecting consumers from higher bills.
“Generators, utilities, investors and consumers must all believe, at a basic level, that the rules are fair, stable and the product of a process they recognize as credible,” Mills wrote.
PJM is taking too long to find solutions and that the “devil is in the details” with each of the proposals put forward, according to Ryan Levine, an analyst at Citigroup Inc.
“We worry that the continued back and forth is leading PJM to miss the opportunity,” Levine wrote in a note. Data center projects “will just move to other regions around the world if it really takes years to figure things out.”
(Updates with comment from Citigroup analyst from penultimate paragraph.)
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- Icahn Enterprises Q1 Earnings Call Highlights
May 6, 2026
Icahn Enterprises logo
Key Points
Q1 results: Icahn Enterprises reported a net loss of $459 million (−$0.71/unit) as $425 million of refining hedge losses and $158 million of unrealized derivative losses weighed on results, though NAV rose $201 million driven by a $605 million gain in its CVI position and the board kept the distribution at $0.50 per unit. Leadership change: CFO Ted Papapostolou was promoted to CEO with Robert Flint stepping into the CFO role, signaling a management transition as the firm pursues portfolio and operational opportunities. Funds and liquidity: The Investment Funds returned +4.4% excluding refining hedges but −8.2% including them, with net short notional exposure rising to 29% (from 13% at year-end); total funds investment was about $2.2 billion with ~$782 million cash, and the holding company and subsidiaries had roughly $2.8 billion and $1.3 billion of liquidity, respectively. Interested in Icahn Enterprises L.P.? Here are five stocks we like better.
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Icahn Enterprises (NASDAQ:IEP) reported a first-quarter 2026 net loss attributable to the company of $459 million, or a loss of $0.71 per unit, as losses tied to refining hedges and derivatives weighed on results despite gains in the firm’s long position in CVI and positive performance in key equity holdings.
Leadership transition highlighted at start of call
Andrew Teno opened the call by thanking colleagues and noting his departure from the CEO role. Teno said it had been an “honor and privilege” to work with Chairman Carl Icahn, and that the company had worked in recent years “to high-grade the investment fund portfolio and to get our controlled operations moving in the right direction.” He added that he was leaving with the view that Icahn Enterprises is “in good hands with a significant war chest to take advantage of opportunities as they arise.”
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Is This The Collapse of Icahn Enterprises ?
Ted Papapostolou, previously chief financial officer, said he is taking on the role of CEO and thanked Teno for his leadership. Papapostolou said he is “honored” by the opportunity and described Icahn Enterprises as having “a unique portfolio” and a “strong heritage of disciplined capital allocation.” He also said he looked forward to working with Robert Flint in his “new role as CFO.”
NAV increases, driven by CVI, offset by hedge losses
Papapostolou said first-quarter net asset value increased by $201 million compared to year-end. He attributed the increase primarily to a $605 million increase in Icahn Enterprises’ long position in CVI, partially offset by $320 million of losses on refining hedges in the Investment segment (also referred to as the Funds).
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On CVI, Papapostolou said “major geopolitical events drove volatility,” which he said has created “attractive market opportunities for the balance of 2026.” He added that the company believes CVI is “well-positioned to allow for potential future debt reductions and capital returns to shareholders,” and noted CVI’s announcement of a $0.10 dividend.
Funds performance and positioning shift more net short
Robert Flint, chief accounting officer, said the Investment Funds generated a positive return of 4.4% for the quarter excluding refining hedges, but a negative return of 8.2% including those hedges. Flint also detailed performance attribution, saying long and other positions contributed a net positive 4.1%, while short positions contributed a negative 12.9%.
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Flint said the Funds ended the quarter with net short notional exposure of 29%, compared with a net short of 13% at year-end. Excluding refining hedges, he said the Funds had net short notional exposure of 2% at quarter-end, compared with net long exposure of 19% at year-end. Flint reported that the funds investment was approximately $2.2 billion as of quarter-end, and Papapostolou said there was about $782 million in cash at the funds at quarter-end.
Key holdings discussed: AEP, Centuri, IFF, Caesars, EchoStar
Papapostolou reviewed several of the Funds’ top positions and the quarter’s stock performance for each, while highlighting business developments described on the call:
American Electric Power (AEP): Papapostolou said AEP benefits from the AI infrastructure build. He noted the company reaffirmed its 2026 operating EPS outlook and raised its long-term operating earnings CAGR to “greater than 9%,” supported by “63 gigawatt of incremental contracted load and 11% rate base growth through 2030.” He said AEP stock was up about 14% in Q1. Centuri: He said Centuri reported base revenue and gross profit growth of 28% and 50% in Q4, and guided to “strong double-digit” base revenue and gross profit growth for 2026 amid increased energy infrastructure investment. He said the stock was up about 16% in Q1. International Flavors & Fragrances (IFF): Papapostolou said IFF continued portfolio optimization, including a sale process for its food ingredients business and the completion of its divestiture of the soy crush business. He said the stock was up about 8% in Q1. Caesars: He said Caesars posted “solid” Q1 results, with Las Vegas stabilizing, regional sales growing in the low single digits, and digital delivering EBITDA growth of 61%. He said Caesars is expected to generate significant cash flow in 2026, which Icahn Enterprises hopes can support share repurchases and debt paydown. He said Caesars stock was up about 13% in Q1. EchoStar: Papapostolou said EchoStar lowered its expected tax and decommissioning costs related to divested assets, and added that the firm believes “meaningful upside remains for the position,” with a potential SpaceX IPO cited as a possible catalyst. He said EchoStar stock was up about 8% in Q1.
Consolidated results show losses tied to hedges and derivatives; segment commentary
Flint said consolidated first-quarter results included $425 million of losses on refining hedges in the Investment segment and $158 million of unrealized derivative losses in the Energy segment. Adjusted EBITDA loss attributable to Icahn Enterprises was $216 million in Q1 2026, compared with an adjusted EBITDA loss of $228 million in the prior-year quarter.
In the Energy segment, Flint said adjusted EBITDA attributable to Icahn Enterprises was negative $5 million, compared with negative $6 million a year earlier. He said refining operations were “solid” with crude utilization of 97%, though margins were pressured by higher RFS obligation costs and unrealized derivative losses. Flint also said the Fertilizer segment posted strong results driven by spring planting demand, and added that CVI’s assets are “well-positioned to benefit from the global tightness in refined product and nitrogen fertilizer.”
In Automotive, Flint said service revenues fell $9 million versus the prior-year quarter, primarily due to store closures during the balance of 2025, partially offset by higher pricing. He added that same-store sales increased about 2% year over year, calling it a more positive indicator, while emphasizing there is “still a lot more work to be done” and that management is focusing on product, pricing, labor, and distribution strategy.
Flint also addressed other operating segments. Real Estate adjusted EBITDA rose by $18 million year over year, driven by income from assets transferred from Automotive, including $9 million of intercompany income from Automotive and $2 million from third-party tenants. Food Packaging adjusted EBITDA declined by $6 million due to lower volume and “disruptive headwinds” from a restructuring plan. Home Fashion adjusted EBITDA fell by $2 million, which Flint attributed to softening demand in retail and hospitality and supply chain disruptions in the Strait of Hormuz. Pharma adjusted EBITDA declined by $10 million due to reduced sales from generic competition in the anti-obesity market and higher R&D expense tied to ongoing pivotal drug trials. Flint said preparation for the TRANSCEND trial for the company’s PAH drug is on schedule, and that the first patient is expected to be dosed in the next 60 to 90 days, adding that physicians remain “excited” about the potential for a disease-modifying designation.
On liquidity, Flint said the company maintained flexibility “to take advantage of attractive opportunities.” As of quarter-end, he said the holding company had cash and an investment in the funds totaling $2.8 billion, and subsidiaries had $1.3 billion of cash and revolver availability.
The company’s board declared an unchanged distribution of $0.50 per depository unit, Papapostolou said.
No analyst questions were taken during the call. Papapostolou closed by thanking participants and said he looked forward to the next update.
About Icahn Enterprises (NASDAQ:IEP)
Icahn Enterprises L.P. (NASDAQ: IEP) is a diversified holding company based in New York City. Controlled by veteran investor Carl C. Icahn, the partnership makes strategic investments and owns wholly or partially controlled subsidiaries across a broad range of industries. With a flexible capital structure, Icahn Enterprises seeks to generate long-term value through active ownership, asset optimization and operational improvements.
The company reports its activities through five principal business segments.
The article "Icahn Enterprises Q1 Earnings Call Highlights" was originally published by MarketBeat.
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