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Recap: Avangrid Q4 Earnings

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Benzinga Insights
·1 min read
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Shares of Avangrid (NYSE:AGR) were flat in after-market trading after the company reported Q4 results.

Quarterly Results

Earnings per share decreased 16.22% year over year to $0.62, which beat the estimate of $0.57.

Revenue of $1,669,000,000 rose by 3.73% from the same period last year, which missed the estimate of $1,700,000,000.

Looking Ahead

Earnings guidance hasn't been issued by the company for now.

View more earnings on AGR

Avangrid hasn't issued any revenue guidance for the time being.

Price Action

52-week high: $57.24

Company's 52-week low was at $35.62

Price action over last quarter: down 10.08%

Company Profile

Avangrid operates two business units, Networks and Renewables. Networks operates eight regulated electric and natural gas utilities across New York, Maine, Connecticut, and Massachusetts, serving over 3 million customers. Networks is the combination of Iberdrola's U.S. regulated units and UIL Holdings. Renewables focuses on developing onshore wind projects primarily but also develops solar and offshore wind projects. It operates more than 7 gigawatts of renewable energy across the U.S. Spanish utility Iberdrola spun off Avangrid's predecessor, Iberdrola USA, in 2015. Iberdrola owns 81.5% of Avangrid.

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