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Avangrid (AGR)
NYSE:AGR
Holding AGR?
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Earnings Data
Report Date
Feb 25, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.55Last Year’s EPS
$0.97Same Quarter Last Year
Moderate Sell
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 22, 2024
|% Change Since: 2.00%
|Next Earnings Date:Feb 25, 2025
Earnings Call Sentiment|Positive
The earnings call highlighted strong financial performance, significant regulatory approvals, and strategic adjustments in offshore wind projects. However, the company faced challenges in the Renewables segment and ongoing issues in Connecticut's regulatory environment. The sentiment is predominantly positive due to the substantial achievements and strategic positioning for future growth.Company Guidance
During Avangrid's fourth quarter and full year 2023 earnings call, the company reported robust financial and operational results, surpassing their earnings per share expectations with $2.03 and adjusted earnings per share of $2.09, marking a 19% growth in adjusted earnings. Key metrics highlighted include approvals for $9 billion in investments, including regulated investments of over $7 billion, and $2.3 billion for New York's Climate Leadership and Community Protection Act (CLCPA) Phase 2. Avangrid also achieved a 25 out of 31 improvement in customer service metrics and exceeded 7 out of 8 reliability targets. The company successfully avoided billions in write-offs by renegotiating power purchase agreements and reported a 311-megawatt increase in renewable capacity. Additionally, Avangrid closed a $1.2 billion tax equity financing for Vineyard Wind 1 and maintained a solid liquidity position with $3 billion in coverage, supporting a stable outlook on credit ratings. Their 2024 guidance predicts an earnings per share range of $2.17 to $2.32, reflecting an 8% increase from 2023, with continuous strategic focus on operational excellence and disciplined growth.Strong Financial Performance
Achieved an earnings per share of $2.03 and adjusted earnings per share of $2.09, above the outlook range. Delivered a 19% adjusted earnings growth year-over-year.
Significant Regulatory Approvals
Received approvals for $9 billion in investments, including multiyear rate case plans in New York and Maine. The New York rate plans resulted in a positive after-tax impact of $136 million.
Positive Outcome on Maine Referendum
Achieved a positive outcome in the Maine referendum with 70% of voters rejecting proposed state ownership of utilities.
Operational Improvements
Improved majority of customer service metrics and delivered best reliability performance since 2019.
Successful Offshore Wind Project Adjustments
Terminated power purchase agreements for Commonwealth Wind and Park City Wind, avoiding billions of dollars in potential write-offs.
Recognition and Awards
Ranked #1 in the utility industry category by JUST 100 and among the top 2 utilities in the National Public Utilities Council’s decarbonization report.
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AGR Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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AGR Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 22, 2024 | $35.31 | $35.36 | +0.14% |
| Jul 23, 2024 | $34.65 | $34.64 | -0.03% |
| Apr 23, 2024 | $35.51 | $35.68 | +0.48% |
| Feb 21, 2024 | $30.38 | $30.29 | -0.30% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Avangrid (AGR) report earnings?
Avangrid (AGR) is schdueled to report earning on Feb 25, 2025, TBA Not Confirmed.
What is Avangrid (AGR) earnings time?
Avangrid (AGR) earnings time is at Feb 25, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is AGR EPS forecast?
AGR EPS forecast for the fiscal quarter 2024 (Q4) is $0.55.
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