AES Says On Track To Achieve Its 2018 Guidance

(RTTNews) - AES Corp. (AES) said that it is on track to achieve its 2018 guidance and it remains confident that it will deliver on its longer-term expectations through 2020. It is continuing on its path to investment grade credit metrics in 2019 and ratings in 2020.

The company reaffirmed its 2018 adjusted earnings per share guidance of $1.15 to $1.25 and its average annual growth rate target of 8% to 10% through 2020. Growth in 2018 will be primarily driven by contributions from new businesses, cost savings and lower Parent interest. Analysts polled by Thomson Reuters expect the company to report earnings of $1.21 per share for fiscal year 2018. Analysts' estimates typically exclude special items.

The company also reaffirms its 2018 Parent Free Cash Flow expectation of $600 million to $675 million.

The company's 2018 guidance and expectations through 2020 are based on foreign currency and commodity forward curves as of September 30, 2018.