Avangrid (AGR) Misses Q1 EPS by 8c

Avangrid (NYSE: AGR) reported Q1 EPS of $0.71, $0.08 worse than the analyst estimate of $0.79.

“We continue to successfully execute on our clean energy initiatives,” commented James P. Torgerson, chief executive officer of AVANGRID. Our New England transmission and offshore wind projects recently received key approvals. These two projects will help decarbonize the region’s energy mix, while providing AVANGRID with opportunities for long-term growth.”

“For the quarter, the wind resources for the Renewables business continued to be significantly below our forecast, as we discussed at our fourth quarter earnings call in February. We have identified and launched initiatives through the mid-period assessment of our Forward 2020+ program to position AVANGRID to be a top tier company in the industry. This will also help to mitigate shortfalls from the Renewables business,” added Torgerson.

For earnings history and earnings-related data on Avangrid (AGR) click here.

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