American Electric Power Co., Inc. AEP reported third-quarter 2017 operating earnings per share (EPS) of $1.10, missing the Zacks Consensus Estimate of $1.19 by 7.6%.The bottom line also declined 15.4% from $1.30 reported a year ago.Total RevenuesAmerican Electric’s third-quarter revenues of $4.1 billion fell 12.8% from $4.7 billion in the year-ago quarter. The reported figure also missed the Zacks Consensus Estimate of $4.2 billion.Quarterly HighlightsOperating expenses in the reported quarter were $1,695.2 million compared with $1,861.1 million a year ago.Operating income in the quarter was $984.1 million, down 13.7% from $1,140.3 million a year ago.American Electric Power Company, Inc. Price, Consensus and EPS Surprise American Electric Power Company, Inc. Price, Consensus and EPS Surprise | American Electric Power Company, Inc. QuoteSegmental PerformanceVertically Integrated Utility Operations: Operating earnings in the quarter declined to $286.3 million from $349.1 million a year ago.Transmission & Distribution Utilities: Operating earnings were $144 million in the quarter, down from $155.7 million a year ago.AEP Transmission Holdco: This segment generated an operating income of $75.5 million, up from $69 million recorded in the third quarter of 2016.Generation and Marketing: Operating earnings were $32.1 million, down from $81 million in the year-ago quarter.Corporate & Other: Operating earnings were $5.2 million, as against loss of $15.1 million in the year-ago quarter.Financial UpdateAs of Sep 30, American Electric had $343.9 million in cash and cash equivalents compared with $210.5 million as of Dec 31, 2016.Long-term debt was $18.36 billion as of Sep 30 compared with $20.26 billion as of Dec 31, 2016.Cash flow from operations was $3,124.2 million in the first nine months of 2017 compared with $3,421 million in the prior-year period.GuidanceAmerican Electric has narrowed its 2017 operating earnings guidance in the range of $3.55–$3.68 from the prior guidance of $3.55–$3.75.Peer ReleasesEntergy Corporation ETR reported third-quarter 2017 operational earnings of $2.35 per share beating the Zacks Consensus Estimate of $2.24 by 4.9%. However, the reported number improved 1.7% from the year-ago figure.DTE Energy Company DTE reported third-quarter 2017 operating earnings per share (EPS) of $1.48, which missed the Zacks Consensus Estimate of $1.53 by 3.3%. Operating earnings also declined 24.5% from the year-ago figure of $1.96.Zacks RankAmerican Electric carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Upcoming Peer ReleaseEdison International EIX is scheduled to report third-quarter 2017 results on Oct 30. The company carries a Zacks Rank #3.Looking for Stocks with Skyrocketing Upside?Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.See the pot trades we're targeting>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report American Electric Power Company, Inc. (AEP): Free Stock Analysis Report Entergy Corporation (ETR): Free Stock Analysis Report Edison International (EIX): Free Stock Analysis Report DTE Energy Company (DTE): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research