AES Reaffirms FY19 Adj. EPS Outlook - Quick Facts

(RTTNews) - While reporting financial results for the third quarter on Wednesday, AES Corp. (AES) reaffirmed its adjusted earnings guidance for the full-year 2019, based on the strong third quarter and year-to-date results.

For fiscal 2019, the company continues to project adjusted earnings in a range of $1.30 to $1.38 per share. It also reaffirmed its average annual growth rate target of 7 to 9 percent through 2022.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $1.33 per share for the year. Analysts' estimates typically exclude special items.

Further, AES said it was upgraded to an investment grade credit rating for the first time in the history of the company, reflecting its nearly decade-long transformation to strengthen our balance sheet and simplify portfolio. Its credit rating was upgraded to investment grade (BBB-) by Fitch and its BB+ credit rating outlook was raised to Positive by S&P.

As a result of executing on its strategy, the Company continues to target a 50 percent reduction in carbon intensity by 2022 and a 70 percent reduction by 2030, both off a 2016 base. The same initiatives will also reduce the Company's coal-fired generation below 30 percent of its total generation volume by 2022.