Avangrid (AGR) Tops Q1 EPS by 22c, Offers Guidance

Avangrid (NYSE: AGR) reported Q1 EPS of $1.16, $0.22 better than the analyst estimate of $0.94. Revenue for the quarter came in at $2.13 billion versus the consensus estimate of $2.01 billion.

GUIDANCE:

Avangrid sees FY2022 EPS of $2.20-$2.38, versus the consensus of $2.12.

• AVANGRID is affirming its 2022 U.S. GAAP Net Income and non-U.S. GAAP Adjusted Net Income outlook of $850-$920 million or $2.20-$2.38 per share, based on 387 million average shares outstanding. This outlook includes the after-tax gain from the restructuring of the Company’s New England offshore wind partnership agreement. Non-U.S. GAAP adjusted earnings and adjusted earnings per share exclude mark-to-market adjustments in the Renewables segment, restructuring charges, merger costs and COVID-19 impacts. For additional information, see “Use of Non-U.S. GAAP Financial Measures” and “Reconciliation of Non-U.S. GAAP Financial Measures” at the end of this release.

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

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