Benzinga | Jul 20, 2021 05:08PM EDT

Recap: Avangrid Q2 Earnings

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

Quarterly Results

Earnings per share were up 9.37% over the past year to $0.35, which missed the estimate of $0.41.

Revenue of $1,477,000,000 rose by 6.11% from the same period last year, which missed the estimate of $1,520,000,000.

Outlook

The upcoming fiscal year's EPS expected to be between $2.04 and $2.22.

Avangrid hasn't issued any revenue guidance for the time being.

Price Action

Company's 52-week high was at $56.20

Company's 52-week low was at $44.02

Price action over last quarter: Up 1.39%

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. It is the combination of Iberdrola's U.S. regulated units and UIL Holdings. Renewables has historically focused on developing onshore wind projects but is looking to make significant developments in solar and offshore wind over the next five years. It operates more than 7.6 gigawatts of renewable energy across the U.S. Spanish utility Iberdrola spun off Avangrid's predecessor, Iberdrola USA, in 2015. Iberdrola owns 81.5% of Avangrid.