AES Corp (AES) Q4 Earnings Trump, Revenues Miss Estimates
Zacks Investment Research | Feb 27, 2020 08:00PM ET
AES Corporation’s (NYSE:AES) fourth-quarter 2019 adjusted earnings of 35 cents per share surpassed the Zacks Consensus Estimate of 33 cents by 6.1%. The bottom line, however, declined 2.8% from the year-ago period’s figure of 36 cents.
Barring one-time adjustments, the company incurred GAAP loss of 12 cents per share in the reported quarter as against the GAAP earnings of 15 cents recorded in the prior-year period.
For 2019, AES Corp’s adjusted earnings came in at $1.36 per share, which outpaced the Zacks Consensus Estimate of $1.35 by 0.7%. The reported figure also improved 9.7% from the prior year’s $1.24 per share.
Highlights of the Release
AES Corp generated total revenues of $2,431 million in the December-end quarter, down 7.3% year over year. The top line also lagged the Zacks Consensus Estimate of $2,775 million by 12.4%.
The company’s total revenues came in at $10,189 million in 2019, missing the Zacks Consensus Estimate of $10,430 million by 2.3%. The revenue figure, moreover, dropped 5.1% from the $10,736 million registered in the prior year.
Total cost of sales was $1,871 million in the fourth quarter, down 5.3% year on year. General and administrative expenses came in at $60 million, flaring up 3.4% from the year-ago quarter’s $58 million.
Operating income summed $560 million, down 13.3% from the year-earlier period’s $646 million.
Interest expenses totaled $262 million, up from the $257 million witnessed in the prior-year period.
The AES Corporation Price, Consensus and EPS Surprise
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