Research Desk Line-up: Pinnacle West Capital Post Earnings Coverage

LONDON, UK / ACCESSWIRE / August 29, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on The AES Corp. (NYSE: AES) ("AES"), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=AES, following the Company's disclosure of its second quarter financial results on August 08, 2017. The power Company outperformed top- and bottom-line expectations and reaffirmed its 2017 guidance and expectations through 2020. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:

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Get more of our free earnings reports coverage from other constituents of the Electric Utilities industry. Pro-TD has currently selected Pinnacle West Capital Corporation (NYSE: PNW) for due-diligence and potential coverage as the Company reported on August 03, 2017, its financial results for Q2 2017 which ended on June 30, 2017. Register for a free membership today, and be among the early birds that get access to our report on Pinnacle West Capital when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on AES; also brushing on PNW. With the links below you can directly download the report of your stock of interest free of charge at:

http://protraderdaily.com/optin/?symbol=AES

http://protraderdaily.com/optin/?symbol=PNW

Earnings Reviewed

For the quarter ended June 30, 2017, AES generated revenue of $3.47 billion, up 7% compared to revenue of $3.23 billion in Q2 2016. The Company's revenue numbers surpassed analysts' expectations of $3.21 billion.

For Q2 2017, net income attributable to AES totaled $53 million, or $0.08 per diluted share, compared to net loss of $482 million, or $0.24 per diluted share, in Q2 2016; reflecting lower impairment expense of $0.16, higher margins and lower Parent interest expense. The lower impairment expense was driven primarily by the $235 million impairment of DPL generation assets recorded in 2016. The Company's adjusted earnings per share for the reported quarter increased 47% to $0.25 compared to $0.17 per share in the prior year's same quarter, primarily due to higher margins and lower Parent interest expense. AES' earnings surpassed Wall Street's expectations for earnings of $0.21 per share.

Cash Matters

During Q2 2017, AES' consolidated net cash provided by operating activities was $251 million; reflecting a decrease of $472 million on a y-o-y basis. The decrease was primarily driven by the receipt of overdue receivables at Maritza in Bulgaria in 2016, and the impact from the recovery of high purchased power costs at Eletropaulo in Brazil in 2016. For the reported quarter, the Company's consolidated free cash flow fell $448 million to $106 million.

Project Update

AES stated that in the last few months, the Company has completed the acquisition of sPower, the largest independent solar developer and operator in US; brought on-line an additional 122 MW in the Dominican Republic by closing the cycle at DPP; and closed on $2 billion in non-recourse financing for the 1.4 GW Southland CCGT and energy storage project in California. The Company noted that they are making good progress on all of their 5 GW of projects under construction, with the exception of its 531 MW Alto Maipo hydroelectric project in Chile.

Outlook

AES is forecasting 8% to 10% average annual growth in Parent Free Cash Flow through 2020 off the mid-point of its 2016 expectations of $525 million to $625 million. Subject to Board approval, and in-line with this reaffirmed expectations, the Company continues to expect its shareholder dividend to grow 8% to 10% annually on average.

For FY17, AES is forecasting adjusted earnings in the range of $1.00 - $1.10 per share. The Company is estimating consolidated cash from operating activities in the band of $2.00 billion to $2.80 billion and consolidated free cash flow to be between $1.40 billion to $2.00 billion.

Stock Performance

On Monday, August 28, 2017, the stock closed the trading session at $11.19, falling 2.10% from its previous closing price of $11.43. A total volume of 4.90 million shares have exchanged hands. AES Corp.'s stock price advanced 1.91% in the last one month. The stock is trading at a PE ratio of 1865.00 and has a dividend yield of 4.29%. The stock currently has a market cap of $7.37 billion.

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SOURCE: Pro-Trader Daily