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AES Corp (AES) Q4 Earnings Beat Estimates, Revenues Miss
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AES Corporation’s (AES - Free Report) fourth-quarter 2018 adjusted earnings of 36 cents per share surpassed the Zacks Consensus Estimate of 33 cents by 9.1%. However, the bottom line declined 16.3% from the year-ago period’s figure.
Barring one-time adjustments, the company delivered GAAP earnings of 15 cents per share in the reported quarter against a loss of $1.03 incurred in the prior-year period.
For 2018, AES Corp’s adjusted earnings came in at $1.24 per share, which outpaced the Zacks Consensus Estimate of $1.21 by 2.5%. The reported figure also improved 14.8% from $1.08 per share in the prior year.
Highlights of the Release
AES Corp generated total revenues of $2.62 billion in the fourth quarter, declined 0.8% year over year. The top line also lagged the Zacks Consensus Estimate of $2.71 million by 3.3%.
The company’s total revenues were $10.74 billion in 2018, which missed the Zacks Consensus Estimate of $10.97 billion by 2.1%. The reported figure, however, rose 2% from $10.53 billion registered in the prior year.
Total cost of sales was $1,976 million in the fourth quarter, down 1.1% year over year. General and administrative expenses were $58 million, 3.3% lower than the year-ago quarter’s level of $60 million.
Operating income remained almost flat at $646 million.
Interest expenses summed $257 million, down from $310 million in the year-earlier period.
Financial Condition
AES Corp reported cash and cash equivalents of $1,166 million as of Dec 31, 2018, compared with $949 million as of Dec 31, 2017.
Non-recourse debt totaled $13,986 million as of Dec 31, 2018, up from $13,176 million as of Dec 31, 2017.
In 2018, cash from operating activities was $2.34 billion compared with the year-ago figure of$2.50 billion.
Total capital expenditures in 2018 amounted to $2.12 billion, which came in below $2.18 billion incurred a year ago.
Guidance
For 2019, AES Corp expects its adjusted earnings in the range of $1.28-$1.40 per share. The Zacks Consensus Estimate for full-year earnings is pegged at $1.31 per share, below the mid-point of the company’s guided range.
Entergy Corporation (ETR - Free Report) reported fourth-quarter 2018 adjusted earnings of 60 cents per share, which surpassed the Zacks Consensus Estimate of 48 cents by 25%.
Ameren Corporation’s (AEE - Free Report) fourth-quarter 2018 earnings of 28 cents per share from continuing operations missed the Zacks Consensus Estimate of 32 cents by 12.5%.
American Electric Power Co. (AEP - Free Report) reported fourth-quarter 2018 operating earnings of 72 cents per share, in line with the Zacks Consensus Estimate.
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AES Corp (AES) Q4 Earnings Beat Estimates, Revenues Miss
AES Corporation’s (AES - Free Report) fourth-quarter 2018 adjusted earnings of 36 cents per share surpassed the Zacks Consensus Estimate of 33 cents by 9.1%. However, the bottom line declined 16.3% from the year-ago period’s figure.
Barring one-time adjustments, the company delivered GAAP earnings of 15 cents per share in the reported quarter against a loss of $1.03 incurred in the prior-year period.
For 2018, AES Corp’s adjusted earnings came in at $1.24 per share, which outpaced the Zacks Consensus Estimate of $1.21 by 2.5%. The reported figure also improved 14.8% from $1.08 per share in the prior year.
Highlights of the Release
AES Corp generated total revenues of $2.62 billion in the fourth quarter, declined 0.8% year over year. The top line also lagged the Zacks Consensus Estimate of $2.71 million by 3.3%.
The company’s total revenues were $10.74 billion in 2018, which missed the Zacks Consensus Estimate of $10.97 billion by 2.1%. The reported figure, however, rose 2% from $10.53 billion registered in the prior year.
Total cost of sales was $1,976 million in the fourth quarter, down 1.1% year over year. General and administrative expenses were $58 million, 3.3% lower than the year-ago quarter’s level of $60 million.
Operating income remained almost flat at $646 million.
Interest expenses summed $257 million, down from $310 million in the year-earlier period.
Financial Condition
AES Corp reported cash and cash equivalents of $1,166 million as of Dec 31, 2018, compared with $949 million as of Dec 31, 2017.
Non-recourse debt totaled $13,986 million as of Dec 31, 2018, up from $13,176 million as of Dec 31, 2017.
In 2018, cash from operating activities was $2.34 billion compared with the year-ago figure of$2.50 billion.
Total capital expenditures in 2018 amounted to $2.12 billion, which came in below $2.18 billion incurred a year ago.
Guidance
For 2019, AES Corp expects its adjusted earnings in the range of $1.28-$1.40 per share. The Zacks Consensus Estimate for full-year earnings is pegged at $1.31 per share, below the mid-point of the company’s guided range.
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.
Recent Utility Releases
Entergy Corporation (ETR - Free Report) reported fourth-quarter 2018 adjusted earnings of 60 cents per share, which surpassed the Zacks Consensus Estimate of 48 cents by 25%.
Ameren Corporation’s (AEE - Free Report) fourth-quarter 2018 earnings of 28 cents per share from continuing operations missed the Zacks Consensus Estimate of 32 cents by 12.5%.
American Electric Power Co. (AEP - Free Report) reported fourth-quarter 2018 operating earnings of 72 cents per share, in line with the Zacks Consensus Estimate.
Is Your Investment Advisor Fumbling Your Financial Future?
See how you can more effectively safeguard your retirement with a new Special Report, “4 Warning Signs Your Investment Advisor Might Be Sabotaging Your Financial Future.”
Click to get it free >>