AES rises on Q3 profit beat, clean energy funding grant

AES

03/11/2023 14:37

** Shares of power company AES  AES.N  up 6.71% at $16.54
    ** Co beat profit estimates for the quarter on strong
renewables segment growth and higher demand for electricity due
to heatwave across the U.S. earlier this quarter
    ** Co reports adjusted earnings of 60 cents per share for
the quarter vs the average analysts' estimate of 54 cents per
share - LSEG
    ** The company posted a 33% increase in quarterly renewables
segment revenue to $708 million 
    ** AES said it received a grant of up to $2.4 billion for
participation in two green hydrogen hubs, in California and the
Gulf Coast of Texas and Louisiana 
    ** Including session's gains, stock had fallen 42.42% this
year

 (Reporting by Kabir Dweit)
 ((Kabir.Dweit@thomsonreuters.com))