AES Corp (AES) Tops Q4 EPS by 2c, Revenues Miss; Introduces FY20 EPS Guidance

AES Corp (NYSE: AES) reported Q4 EPS of $0.35, $0.02 better than the analyst estimate of $0.33. Revenue for the quarter came in at $2.43 billion versus the consensus estimate of $2.86 billion.

"In 2019, we achieved our strategic and financial goals, laying the foundation for strong growth in the coming decade," said Andrés Gluski, AES President and Chief Executive Officer. "We are leading the global energy transition by completing 2.2 GW of new projects, adding 2.8 GW to our backlog, and expanding our LNG infrastructure in the Dominican Republic, Panama and Vietnam. At the same time, we are delivering innovative energy solutions through Fluence, Uplight, and a strategic partnership with Google. As a result, today we are announcing that we are accelerating our decarbonization goals for the Company and will aim to reduce our coal-fired generation to below 30% of total MWh by year-end 2020 and to less than 10% by 2030."

"I am very pleased with our strong financial performance in 2019: delivering once again on all key metrics, while attaining an investment grade rating for the first time in our history," said Gustavo Pimenta, AES Executive Vice President and Chief Financial Officer. "With our 2019 results, we are confident in reaffirming our expected 7% to 9% average annual growth in Adjusted EPS and Parent Free Cash Flow through 2022."

GUIDANCE:

AES Corp sees FY2020 EPS of $1.40-$1.48, versus the consensus of $1.44.

For earnings history and earnings-related data on AES Corp (AES) click here.

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