Avangrid reports Q3 adjusted EPS 55c, consensus 33c

Reports Q3 revenue $2.08B vs $1.97B last year. “Our financial performance for the first nine months of the year was in-line with our expectations,” said Pedro Azagra, Chief Executive Officer of Avangrid (AGR). “We are successfully executing on our multi-year rate plans in New York and Maine and continue to construct onshore wind and solar clean energy projects. Most recently, our New England Wind 1 offshore wind project was awarded 791 MW by the Commonwealth of Massachusetts in the multi-state regional offshore wind solicitation and we were awarded a $425M Federal capacity contract in connection with our upcoming transmission RFP bid in Maine, one of the largest Federal investments in energy development in Maine’s history. We intend to participate in the transmission RFP process and will include this award as part of our proposal.”