AES Corp. (AES) Misses Q1 EPS by 3c

AES Corp. (NYSE: AES) reported Q1 EPS of $0.24, $0.03 worse than the analyst estimate of $0.27. Revenue for the quarter came in at $4.26 billion versus the consensus estimate of $4.37 billion.

AES Corp. reaffirms FY2014 EPS of $1.30-$1.38, versus the consensus of $1.35.

"Hydrology has been poor so far this year, especially in Panama and Brazil, and could have a full year negative impact of $0.07 to $0.10 per share. We are taking actions to mitigate this impact, through increased cost management efforts, accelerated capital allocation and strategic initiatives," said Andrés Gluski, AES President and Chief Executive Officer. "In the first quarter, we closed a number of capital efficient platform expansions and brought in equity partners to optimize our overall risk profile. We will continue to compete all investment opportunities with stock buybacks and debt paydowns to maximize shareholder returns."

"Although our first quarter results were affected by forced outages and a gas shortage at DPL in the U.S., they also reflect positive contributions from operational improvements in Europe, Central America and Brazil," said Tom O'Flynn, AES Executive Vice President and Chief Financial Officer. "We also benefited from our capital allocation decisions, resulting in lower Parent interest and a 3% reduction in our share count."

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

You May Also Be Interested In

• Micron surges 5.5% on blockbuster Anthropic AI deal ahead of earnings
• Ledyard Financial Group names Charles Petersen as board chair
• American States Water completes $200 million ATM equity offering