Benzinga | Oct 20, 2020 04:54PM EDT

Recap: Avangrid Q3 Earnings

Shares of Avangrid (NYSE:AGR) rose 0.26% in after-market trading after the company reported Q3 results.

Quarterly Results

Earnings per share fell 20.00% over the past year to $0.32, which missed the estimate of $0.41.

Revenue of $1,470,000,000 decreased by 1.14% from the same period last year, which missed the estimate of $1,520,000,000.

Guidance

The upcoming fiscal year's EPS expected to be between $1.90 and $2.00.

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

Price Action

Company's 52-week high was at $57.24

52-week low: $35.62

Price action over last quarter: Up 12.04%

Company Profile

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 on developing onshore wind projects primarily but also develops solar and offshore wind projects. 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 owns 81.5% of Avangrid.