Recap: Avangrid Q2 Earnings

Shares of Avangrid AGR were flat in after-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share decreased 3.03% over the past year to $0.32, which missed the estimate of $0.34.

Revenue of $1,392,000,000 decreased by 0.57% year over year, which missed the estimate of $1,450,000,000.

Outlook

Earnings guidance hasn't been issued by the company for now.

Revenue guidance hasn't been issued by the company for now.

Price Action

52-week high: $57.24

Company's 52-week low was at $35.62

Price action over last quarter: Up 6.19%

Company Description

Avangrid operates two business units, Networks and Renewables. Networks operates eight regulated electric and natural gas utilities across New York, Maine, Connecticut, and Massachusetts, serving over 3 million customers. Networks is the combination of Iberdrola's U.S. regulated units and UIL Holdings. Renewables focuses primarily on developing onshore wind power, with developments in solar and offshore wind developments as well. It operates more than 7 gigawatts of renewable energy across the U.S. Spanish utility Iberdrola spun off Avangrid's predecessor, Iberdrola USA, in 2015. Iberdrola remains an 81.5% ownership stake in Avangrid.