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AES Corporation Reported Higher 1Q17 Earnings

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AES Corporation Reported Higher 1Q17 Earnings PART 1 OF 4

AES Corporation Reported Higher 1Q17 Earnings

Higher 1Q17 earnings

AES Corporation (AES) reported its first quarter financial results on May 8, 2017. It posted earnings of $0.17 per share in the reported quarter—compared to earnings of $0.15 per share in the same quarter last year.

AES Corporation’s earnings in the reported quarter were impacted positively by higher margins in Mexico, Central America, and the Caribbean. However, its earnings were partially offset by lower margins in Europe.

AES Corporation Reported Higher 1Q17 Earnings

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Earnings drivers

AES Corporation reported total revenues of $3.5 billion in 1Q17—0.6% higher compared to the same quarter last year. In 1Q17, its total operating expenses rose 5% to $2.9 billion—compared to 1Q16.

The company’s net cash provided by operations rose to $703 million in the reported quarter—an increase of $63 million compared the 1Q16. The utility also reported consolidated free cash flow of $546 million—an increase of 10% year-over-year.

AES Corporation prepaid $300 million of parent debt in 1Q17.

Management reiterated its average annual growth of 8%–10% in consolidated free cash flow and adjusted earnings per share through 2020.

AES Corporation is the most geographically diversified utility among its peers (XLU) in the US. Currently, it operates in 17 countries with nearly 27,000 megawatts of unregulated capacity. It exited ten countries, including China and Nigeria, in the past five years to minimize risk. Nearly 70% of its total earnings come from outside the US.

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