The AES Corporation

Utilities | Electric Utilities | USA

AES Corp (AES) Q1 Earnings Miss Estimates, Revenues Down Y/Y

AES Corporation’s AES first-quarter 2019 adjusted earnings of 28 cents per share missed the Zacks Consensus Estimate of 30 cents by 6.7%. However, earnings were in line with the year-ago quarter’s figure.
 
Barring one-time adjustment, the company delivered GAAP earnings of 23 cents per share in the reported quarter compared with $1.03 in the prior-year period.

Highlights of the Release

AES Corp generated total revenues of $2.65 billion in the first quarter, down 3.3% year over year. The top line also lagged the Zacks Consensus Estimate of $2.72 million by 2.6%.

Total cost of sales was $2,064 million in the first quarter, down 0.96% year over year. General and administrative expenses were $46 million, 17.9% lower than the year-ago quarter’s $56 million. 

Operating income stood at $586 million, down from $656 million in the year-ago period.

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 https://finance.yahoo.com/news/aes-corp-...12737.html