Abengoa Yield (ABY) Misses Q1 EPS Views; Boosts Dividend Growth Outlook

Abengoa Yield (NASDAQ: ABY) reported Q1 EPS of ($0.18), $0.33 worse than the analyst estimate of $0.15. Revenue for the quarter came in at $118.3 million versus the consensus estimate of $140.9 million.

Increase in Dividend per Share Guidance

Santiago Seage, CEO of Abengoa Yield, commented “Our largest acquisition of assets from Abengoa will double our existing installed capacity in renewable energy, while maintaining very good quality in our portfolio, with a best-in-class average remaining useful life of 23 years and all our CAFD generated from contracted or regulated assets with high quality off-takers. As a result, we are pleased to raise our guidance for the year 2016, in which we expect to distribute a dividend in the range of $2.10 to $2.15 per share, an increase of up to 9% with respect to our previous guidance. With this, we would provide a dividend per share growth of 30% to 34% in 2016 vs 2015.”

For earnings history and earnings-related data on Abengoa Yield (ABY) click here.

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