Avangrid Inc reports results for the quarter ended in March - Earnings Summary

Avangrid

23/04/2024 22:56

* Avangrid Inc  AGR.N  reported quarterly adjusted earnings
of 88
cents​​ per share for the quarter ended in March, higher than
the same quarter last year, when the company reported EPS of 64
cents.  The mean expectation of seven analysts for the quarter
was for earnings of 68 cents per share. Wall Street expected
results to range from 59 cents to 77 cents per share.
    * Revenue fell 2% to $2.42 billion from a year ago; analysts
expected $2.54 billion. 
    * Avangrid Inc's reported EPS for the quarter was 91 cents​.
    * The company reported quarterly net income of $351 million.
    * Avangrid Inc shares had risen by 1.7% this quarter and
gained 14.3% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 3.5%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is 1 "strong buy" or "buy," 5
"hold" and 3 "sell" or "strong sell." 
    * The average consensus recommendation for the electric
utilities
peer group is also "hold"

Wall Street's median 12-month price target for Avangrid Inc is
$34.75 
This summary was machine generated from LSEG data April 23 at
09:55 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Mar. 31 2024      0.68           0.88           Beat
 Dec. 31 2023      0.91           0.97           Beat
 Sep. 30 2023      0.39           0.27           Missed
 Jun. 30 2023      0.38           0.21           Missed