AES Attains Second Investment Grade Rating; Reduces Coal Generation to Below 30%; Reaffirms Full Year 2020 Guidance and Growth Rates Through 2022

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Go back to AES Attains Second Investment Grade Rating; Reduces Coal Generation to Below 30%; Reaffirms Full Year 2020 Guidance and Growth Rates Through 2022

AES Corp (AES) Misses Q3 EPS by 1c, Revenues Miss; Reaffirms FY20 EPS Guidance

November 6, 2020 6:02 AM EST

AES Corp (NYSE: AES) reported Q3 EPS of $0.42, $0.01 worse than the analyst estimate of $0.43. Revenue for the quarter came in at $2.55 billion versus the consensus estimate of $2.7 billion.

Q3 2020 Financial Highlights

Diluted EPS of ($0.50), compared to $0.32 in Q3 2019, primarily reflecting expenses associated with dispositions and impairmentsAdjusted EPS1 of $0.42, compared to $0.48 in Q3 2019

Financial Position and Outlook

Reaffirming 2020 Adjusted EPS1 guidance range of $1.32 to $1.42 and now expecting to be at the top end of this rangeReaffirming 7% to 9% average annual growth target through... More