AES Sees FY Profit In Line With View

(RTTNews) - AES Corp. (AES) said that it expects adjusted earnings per share for 2021 to be in the range of $1.50 to $1.58, in line with its expectation of 7% to 9% average annual growth. Analysts polled by Thomson Reuters expected the company to report earnings of $1.56 per share for fiscal year 2021. Analysts' estimates typically exclude special items.

Growth in 2021 is expected to be primarily driven by contributions from new businesses, including Southland Energy in California, which came on-line in mid-2020 and approximately 4 GW of backlog projects expected to be completed in 2021; benefits from cost savings and digital initiatives; and reduced Parent Company interest from refinancings in 2020.

The company noted that it will review its strategy and longer-term financial outlook at its Virtual Investor Day on Wednesday, March 3, 2021.

In Thursday pre-market trade, AES was trading at $29.50 up $1.50 or 5.36 percent.