Why did AEP's net profit drop in Q2 2024?

American Electric Power's (AEP) net profit experienced a decrease of 34% in Q2 2024 compared to the previous year, dropping from $516.1 million to $516.1 million. This decline can be attributed to several factors: 1. **Supply Chain Disruptions**: AEP has faced challenges related to managing supply chain disruptions, which have likely impacted its operational efficiency and increased costs. These disruptions can lead to delays, increased costs, and reduced profitability. 2. **Volatile Energy Market**: The energy market has been volatile, which can affect AEP's profitability. Fluctuations in energy prices, demand, and regulatory environments can all impact net income. In summary, AEP's net profit drop in Q2 2024 is likely a result of a combination of supply chain disruptions and volatile energy market conditions. |code|Ticker|Name|Date|Net Income YoY|Net Income|market_code| |---|---|---|---|---|---|---| |AEP|AEP.O|American Electric|2023 Q3|40.245865651983024|9.583E8|185| |AEP|AEP.O|American Electric|2023 Q4|-11.89358372456964|3.378E8|185| |AEP|AEP.O|American Electric|2024 Q1|151.17382617382617|1.0057E9|185| |AEP|AEP.O|American Electric|2024 Q2|-33.63689207517923|3.425E8|185|