logo
  

AVANGRID Backs FY22 Earnings View

AVANGRID, Inc. (AGR), a U.S. arm of Spanish utility Iberdrola S.A. (IBDSF.PK) , said on Thursday that it has reaffirmed its earnings guidance for the full-year. In addition, it added that the company is investing around $15 billion through 2025.

For the fiscal 2022, the company continues to expect EPS and adjusted EPS of $2.20 to $2.38. Analysts, on average, expect the firm to post EPS of $2.34.

Pedro Azagra, CEO of AVANGRID, said: "In the next several years, we plan to strengthen our position with a disciplined investment plan of approximately $15 billion through 2025, $8.1 billion without PNM Resources. Through our Networks business, we are working to modernize the grid and further integrate clean energy into the system…These investments in both the regulated and contracted renewables will generate predictable earnings and cash flow through and beyond our 2022 to 2025 long-term outlook."

AVANGRID has also provided a financial outlook of 6 percent to7 percent income per share and adjusted EPS compound annual growth rate for 2022-2025 including PNM Resources.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Stocks staged a significant recovery attempt after pulling back sharply in early trading on Wednesday but still ended the day modestly lower. The major averages gave back ground after moving sharply higher over the two previous sessions. Three scientists have shared the Nobel Prize for Chemistry for their work that led to the development of linking molecules together, known as click chemistry, and bioorthogonal chemistry. Morten Meldal and K. Barry Sharpless have laid the foundation for a functional form of chemistry - click chemistry - in which molecular building blocks snap together quickly and efficiently. Carolyn R. Bertozzi The Institute for Supply Management released a report on Wednesday showing a modest slowdown in the pace of growth in U.S. service sector activity in the month of September. The ISM said its services PMI edged down to 56.7 in September from 56.9 in August, although a reading above 50 still indicates growth in the sector.
Follow RTT