| AES Corp. (AES) Q1 Earnings Lag Estimates, Maintains View - Analyst Blog | |
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The AES Corporation’s AES first-quarter 2015 adjusted earnings per share of 25 cents missed the Zacks Consensus Estimate of 28 cents by 10.7%. Reported earnings were, however, up by 1 cent from the year-ago figure of 24 cents per share.
The company was able to earn higher profit due to improved operating performance and proficient capital allocations that resulted in a 13% reduction in Parent debt and a 3% lower share count. Yet results were hurt by a strong U.S. dollar and a higher tax rate.
Highlights of the Release AES Corp. generated total revenues of $3,984 million in the first quarter, lagging the Zacks Consensus Estimate of $4,982 million by 20%. Quarterly revenues were also down 6.5% year over year. In the reported quarter, total cost of sales was $3,263 million, down 5.9% year over year. General and administrative expenses were $55 million, up by $4 million year over year. Operating income was down 9.2% to $721 million. Interest expenses in the reported quarter were $363 million compared with $373 million in the year-ago quarter. Financial Condition AES Corp. reported cash and cash equivalents of $1,337 million as of Mar 31, 2015, compared with $1,539 million as of Dec 31, 2014. Non-recourse debt was $13,625 million as of Mar 31, 2015, up from $13,618 million as of Dec 31, 2014. Cash from operating activities in the quarter was $385 million compared with $241 million a year ago. Total capital expenditure in the quarter stood at $661 million, up from $577 million a year ago. Proportional free cash flow, a non-GAAP measure, stood at $265 million in the first quarter, up from $129 million in the year-ago period. The company repurchased 3.4 million shares for $42 million in the first quarter. Asset Sale AES Corp. announced or closed $563 million in equity proceeds from asset sales or investments by strategic partners. Guidance AES Corp. maintained its adjusted earnings guidance for 2015 in the range of $1.25−$1.35 per share. However, the company now expects a higher impact from poor hydrology in Brazil. The company expects that the Brazilian regulator may dispatch less hydro capacity in order to maintain reservoir levels, resulting in an additional 2 cents to 3 cents per share negative impact on full-year earnings. This brings the total impact to 7 cents to 8 cents in 2015. However, the company will likely register a 1 cent per share benefit from the early completion of the 1,240 MW Mong Duong 2 power plant in Vietnam.
The company maintained its 2015 proportional free cash flow guidance in the range of $1,000−$1,350 million.
The company has also reaffirmed average annual cash flow growth of 10% to 15% through 2018.
Other Company Releases CMS Energy Corp. CMS reported first-quarter 2015 adjusted earnings per share of 73 cents, outpacing the Zacks Consensus Estimate of 66 cents by 10.6%. Quarterly earnings, however, declined 2.7% from the year-ago figure.
PG&E Corp.’s PCG adjusted operating earnings per share of 87 cents in the first quarter of 2015 surpassed the Zacks Consensus Estimate of 68 cents by 27.9%. The reported figure surged 61.1% from the year-ago earnings. The upside was driven by the impact of expense recovery authorized in the utility’s 2014 General Rate Case.
American Electric Power Company Inc. AEP reported first-quarter 2015 operating earnings of $1.28 per share, beating the Zacks Consensus Estimate of $1.11 by 15.3%. Our Take The company’s Strategic Business Units (“SBUs”) in the U.S., Andes and Asia performed well. AES Corp. continues to profit from its capital allocation strategy, share repurchases, debt prepayment and focus on cost savings. The company continues to streamline its operations by selling non-core assets. AES Corp. currently holds a Zacks Rank #3 (Hold). Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report AES CORP (AES): Free Stock Analysis Report AMER ELEC PWR (AEP): Free Stock Analysis Report CMS ENERGY (CMS): Free Stock Analysis Report PG&E CORP (PCG): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research
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CMS Energy Corporation
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CODE : CMS |
ISIN : US1258961002 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
CMS Energy is a producing company based in United states of america. CMS Energy is listed in Germany and in United States of America. Its market capitalisation is US$ 17.1 billions as of today (€ 16.0 billions). Its stock quote reached its lowest recent point on April 18, 2014 at US$ 0.12, and its highest recent level on April 25, 2024 at US$ 60.48. CMS Energy has 282 420 406 shares outstanding. |