U.S. markets closed
  • S&P 500

    4,455.48
    +6.50 (+0.15%)
     
  • Dow 30

    34,798.00
    +33.18 (+0.10%)
     
  • Nasdaq

    15,047.70
    -4.54 (-0.03%)
     
  • Russell 2000

    2,248.07
    -10.97 (-0.49%)
     
  • Crude Oil

    73.95
    +0.65 (+0.89%)
     
  • Gold

    1,750.60
    +0.80 (+0.05%)
     
  • Silver

    22.42
    -0.26 (-1.16%)
     
  • EUR/USD

    1.1718
    -0.0029 (-0.25%)
     
  • 10-Yr Bond

    1.4600
    +0.0500 (+3.55%)
     
  • GBP/USD

    1.3681
    -0.0040 (-0.29%)
     
  • USD/JPY

    110.6850
    +0.3840 (+0.35%)
     
  • BTC-USD

    42,577.21
    +395.53 (+0.94%)
     
  • CMC Crypto 200

    1,067.20
    -35.86 (-3.25%)
     
  • FTSE 100

    7,051.48
    -26.87 (-0.38%)
     
  • Nikkei 225

    30,248.81
    +609.41 (+2.06%)
     

AES Q4 Earnings Beat Estimates While Revenues Fall Short

  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
·3 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.

AES Corporation’s AES fourth-quarter 2020 adjusted earnings of 48 cents per share surpassed the Zacks Consensus Estimate of 45 cents by 6.7%. Moreover, the bottom line improved 37.1% from the year-ago quarter’s 35 cents per share.

Barring a one-time adjustment, the company posted GAAP earnings of 47 cents per share in the reported quarter against the GAAP loss of 12 cents in the prior-year period.

Highlights of the Release

AES Corp. generated total revenues of $2,560 million in the fourth quarter, up 5.3% year over year. The top line, however, lagged the Zacks Consensus Estimate of $2,841 million by 9.9%.

The AES Corporation Price, Consensus and EPS Surprise

The AES Corporation Price, Consensus and EPS Surprise
The AES Corporation Price, Consensus and EPS Surprise

The AES Corporation price-consensus-eps-surprise-chart | The AES Corporation Quote

Total cost of sales was $1,654 million in the fourth quarter, down 11.6% year over year. General and administrative expenses were $46 million, down 23.3% from the year-ago quarter’s figure.

Interest expenses were $297 million, up 13.4% from $262 million in the year-earlier period.

In 2020, the company signed PPAs worth 3-Gigawatt (GW), thus bringing the total renewable backlog to 6.9 GW.

Financial Condition

AES Corp. reported cash and cash equivalents of $1,089 million as of Dec 31, 2020 compared with $1,029 million as of Dec 31, 2019.

Non-recourse debt totaled $15,005 million as of Dec 31, 2020, up from $14,914 million as of Dec 31, 2019.

In the fourth quarter of 2020, net cash provided by operating activities was $668 million compared with the year-ago quarter’s $691 million.

Total capital expenditures during the fourth quarter amounted to $525 million, which declined from $777 million incurred in the year-ago quarter.

Guidance

For 2021, AES Corp. initiated its EPS guidance of $1.50-$1.58. The Zacks Consensus Estimate for the current-year earnings is pegged at $1.57, which is near the upper end of the guided range.

Zacks Rank

AES Corp. currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Other Utility Releases

NextEra Energy, Inc. NEE reported fourth-quarter 2020 adjusted earnings of 40 cents per share, which beat the Zacks Consensus Estimate of 39 cents by 2.6%.

Xcel Energy Inc. XEL posted fourth-quarter 2020 operating earnings of 54 cents per share, inline with the Zacks Consensus Estimate.

WEC Energy Group WEC delivered fourth-quarter 2020 earnings per share of 76 cents, which surpassed the Zacks Consensus Estimate of 74 cents by 2.7%.

More Stock News: This Is Bigger than the iPhone!

It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market.

Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.

Click here for the 4 trades >>


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

WEC Energy Group, Inc. (WEC) : Free Stock Analysis Report

Xcel Energy Inc. (XEL) : Free Stock Analysis Report

The AES Corporation (AES) : Free Stock Analysis Report

NextEra Energy, Inc. (NEE) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research