The AES Corporation’s (AES - Free Report) first-quarter 2018 adjusted earnings per share of28 cents surpassed the Zacks Consensus Estimate of 25 cents by 12%. Moreover, the bottom line improved 64.7% from the year-ago period’s figure of 17 cents.
Barring one-time adjustments, the company reported earnings of $1.03 in the first quarter as against the year-ago period’s loss of 4 cents.
Highlights of the Release
AES Corp generated total revenues of $2,740 million in the first quarter, up 6.2% year over year. The top line however missed the Zacks Consensus Estimate of $3,446 million by 0.5%.
Total cost of sales was $2,084 million in the first quarter, up 3% year over year. General and administrative expenses were $56 million, 3.7% higher than the year-ago quarter’s level of $54 million.
Operating income was up 17.8% year-over-year to $656 million.
Interest expenses in the quarter were $281 million, down from $287 million in the year-ago quarter.
Financial Condition
AES Corp reported cash and cash equivalents of $1,212 million as of Mar 31, 2018 compared with $949 million as of Dec 31, 2017. Non-recourse debt totaled $13,601 million as of Mar 31, 2018,up from $13,176 million as of Dec 31, 2017.
In the first quarter, cash from operating activities was $515 million compared with the year-ago quarter’s figure of $708 million.
Total capital expenditure in first quarter was $495 million, higher than $474 million a year ago.
Guidance
For 2018, AES Corp reaffirmed its adjusted earnings per share guidance in the range of $1.15-$1.25.
Zacks Rank
AES Corp has a Zacks Rank #3 (Hold).You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Other Utility Releases
CenterPoint Energy, Inc. (CNP - Free Report) reported first-quarter 2018 adjusted earnings of 55 cents per share, which beat the Zacks Consensus Estimate of 44 cents by 25%.
Consolidated Edison Inc. (ED - Free Report) reported first-quarter 2018 earnings of $1.37 per share, which surpassed the Zacks Consensus Estimate of $1.33 by 3%.
PG&E Corporation (PCG - Free Report) reported adjusted operating earnings per share of 91 cents in first-quarter 2018, which missed the Zacks Consensus Estimate of $1.03 by 11.7%.
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The AES Corporation’s (AES - Free Report) first-quarter 2018 adjusted earnings per share of28 cents surpassed the Zacks Consensus Estimate of 25 cents by 12%. Moreover, the bottom line improved 64.7% from the year-ago period’s figure of 17 cents.
Barring one-time adjustments, the company reported earnings of $1.03 in the first quarter as against the year-ago period’s loss of 4 cents.
Highlights of the Release
AES Corp generated total revenues of $2,740 million in the first quarter, up 6.2% year over year. The top line however missed the Zacks Consensus Estimate of $3,446 million by 0.5%.
Total cost of sales was $2,084 million in the first quarter, up 3% year over year. General and administrative expenses were $56 million, 3.7% higher than the year-ago quarter’s level of $54 million.
Operating income was up 17.8% year-over-year to $656 million.
Interest expenses in the quarter were $281 million, down from $287 million in the year-ago quarter.
Financial Condition
AES Corp reported cash and cash equivalents of $1,212 million as of Mar 31, 2018 compared with $949 million as of Dec 31, 2017. Non-recourse debt totaled $13,601 million as of Mar 31, 2018,up from $13,176 million as of Dec 31, 2017.
In the first quarter, cash from operating activities was $515 million compared with the year-ago quarter’s figure of $708 million.
Total capital expenditure in first quarter was $495 million, higher than $474 million a year ago.
Guidance
For 2018, AES Corp reaffirmed its adjusted earnings per share guidance in the range of $1.15-$1.25.
Zacks Rank
AES Corp has a Zacks Rank #3 (Hold).You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Other Utility Releases
CenterPoint Energy, Inc. (CNP - Free Report) reported first-quarter 2018 adjusted earnings of 55 cents per share, which beat the Zacks Consensus Estimate of 44 cents by 25%.
Consolidated Edison Inc. (ED - Free Report) reported first-quarter 2018 earnings of $1.37 per share, which surpassed the Zacks Consensus Estimate of $1.33 by 3%.
PG&E Corporation (PCG - Free Report) reported adjusted operating earnings per share of 91 cents in first-quarter 2018, which missed the Zacks Consensus Estimate of $1.03 by 11.7%.
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>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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