The AES Corporation reported an increase in profits for its first quarter compared to the previous year, surpassing Wall Street estimates. The company's net income reached $432 million, or $0.60 per share, showing significant improvement from $151 million, or $0.21 per share, during the same period last year.
When accounting for special items, the company's adjusted earnings were noted at $336 million or $0.50 per share for the quarter. On average, analysts had predicted the company would earn $0.34 per share, as compiled by Thomson Reuters. Please note, these estimates usually exclude any special items.
However, the company's revenue for the quarter dropped slightly by 4.6%, bringing it down to $3.09 billion from $3.24 billion from the previous year.
To give an overall glimpse of The AES Corporation's performance for the quarter (in GAAP terms):
- Earnings for Q1 are $432 million, compared to $151 million last year.
- EPS for Q1 are $0.60, compared to $0.21 last year.
- Revenue for Q1 is $3.09 billion, compared to $3.24 billion last year.
As for the annual EPS guidance, it ranges from $1.87 to $1.97.