April 30 (Reuters) - American Electric Power ( AEP )

beat first-quarter profit estimates on Tuesday, as the electric

utility benefited from higher demand and usage from commercial

customers.

The company said it saw higher commercial sales with load

growth of 10.5% from a year earlier, which helped offset the

expected decline in usage for residential customers.

"AEP's industry-leading transmission network continues to

attract meaningful investment from data centers and other

commercial and industrial customers, especially in our Indiana,

Ohio and Texas service areas," interim CEO Ben Fowke said.

The company, however, continued to face unfavorable weather

in the quarter. Mild weather conditions dampen demand for

electricity and natural gas, affecting American Electric Power ( AEP ),

which delivers power to 5.6 million customers in 11 states.

The Columbus, Ohio-based company reaffirmed its 2024

operating earnings forecast range of $5.53 to $5.73 per share.

American Electric Power ( AEP ) reported an operating profit of

$1.27 per share, beating analysts' estimates of $1.25, according

to LSEG data.

Additionally, the company said it is taking several steps

including "voluntary workforce reduction program, to help

mitigate the impacts of inflation and interest rates".