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The Aes Corp Down 3.16% To $15.04 After Earnings Beat

Tuesday, February 27, 2024 03:39 PM | InvestorsObserver Analysts

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The Aes Corp Down 3.16% To $15.04 After Earnings Beat

The Aes Corp (AES) said after close Monday that it earned $0.73 per share in quarter four 2023. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.

On the revenue line, the company reported $3 billion, missing estimates by $392 million.

In the same quarter a year ago, the company earned $0.49 per share on revenue of $3.1 billion.

The stock is down 3.16% to $15.04 after the report.

Despite The Aes Corp reporting a decline in revenues, earnings increased signaling a rise in profit margins.

Wall Street Analysts had an average rating of Buy on the stock prior to the report.

InvestorsObserver gives the stock a Bearish Sentiment score at the moment based on recent trading.

The Aes Corp has performed a little below average during the past few months. Before the report, The Aes Corp received a Long-Term Technical Rank by InvestorsObserver of 33, putting it in the bottom half of stocks. The firm set a 52-week low on October 6, 2023 at $11.43 and set a 52-week high on February 27, 2023 at $26.41.

AES is a global power company operating across 14 countries and 4 continents. Its current generation portfolio consists of over 31 gigawtts of generation, with the generation mix composed of renewables (43%), gas (32%), coal (23%), and oil (2%). The company has 3.5 gigawatts of generation under construction. AES has majority ownership and operates six electric utilities distributing power to 2.6 million customers.

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