AES Corp (NYSE: AES) reported Q4 EPS of $0.36, $0.02 better than the analyst estimate of $0.34.

2018 Strategic Highlights

• Prepaid a total of $1 billion in Parent debt in 2018, including accelerated payment of $150 million in the fourth quarter, reducing Parent leverage to 3.95x, consistent with investment grade metrics
• Completed construction of a total of 1.3 GW in 2018, including 215 MW of renewables in the fourth quarter
• Signed long-term contracts for approximately 2 GW in 2018, including 125 MW in the fourth quarter, bringing backlog to 5.8 GW
• Continued success in signing new long-term renewables contracts, leading to the introduction of a longer-term target to reduce carbon intensity by 70% from 2016 to 2030; now expect to achieve a 50% reduction from 2016 to 2022
• Fluence energy storage JV with Siemens awarded 286 MW of new projects in 2018, for a total of 766 MW delivered or awarded

2018 Financial Results

• 2018 Diluted EPS of $1.48, compared to a loss of $0.77 in 2017
• 2018 Adjusted EPS of $1.24, compared to $1.08 in 2017 and 2018 guidance of $1.15 to $1.25
• Initiating 2019 guidance for Adjusted EPS of $1.28 to $1.40 and expectation for 2019 Parent Free Cash Flow of $700 to $750 million; targeting 7% to 9% annual growth in Adjusted EPS and Parent Free Cash Flow through 2022

outlook by two years, and now expect 7% to 9% average annual growth in Adjusted EPS and Parent Free Cash Flow through 2022."

GUIDANCE:

AES Corp sees FY2019 EPS of $1.28-$1.40, versus the consensus of $1.31.

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