AES Maintains FY22 Adj. Earnings View - Update

(RTTNews) - While reporting a loss in its second quarter, despite higher revenues, power company AES Corp. (AES) Friday reaffirmed its 2022 adjusted earnings per share guidance of $1.55 to $1.65.

On average, 12 analysts polled by Thomson Reuters expect earnings of $1.60 per share for the year. Analysts' estimates typically exclude special items.

Further, the company continues to expect 7 percent to 9 percent annualized growth rate target through 2025, from a base year of 2020, with year-to-date results and positive expectations for the remainder of the year.

Andrés Gluski, AES President and Chief Executive Officer, said, ".. we are on track to achieve our 2022 guidance. We see strong demand for renewables and have already signed or been awarded 1.6 GW of new long-term contracts so far this year, and expect to achieve a total of 4.5 to 5.5 GW in 2022. Furthermore, we do not expect any material delays on 5.9 GW of backlog projects in the US as a result of supply chain issues."