Avangrid Q4 2023 Adj EPS $0.97 Beats $0.91 Estimate, Sales $2.28B Miss $2.40B Estimate
Portfolio Pulse from Benzinga Newsdesk
Avangrid (NYSE:AGR) reported Q4 2023 adjusted EPS of $0.97, surpassing the $0.91 estimate. However, its sales of $2.28B fell short of the $2.40B estimate, marking a 5.75% increase from the previous year.
February 21, 2024 | 10:00 pm
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Avangrid reported a Q4 2023 adjusted EPS of $0.97, beating estimates, but sales of $2.28B missed forecasts, despite a 5.75% year-over-year increase.
Avangrid's mixed Q4 2023 results, with an EPS beat but a miss on sales forecasts, could lead to neutral short-term stock price movement. The EPS beat indicates operational efficiency and profitability, which is positive. However, the sales miss might raise concerns about growth prospects and demand, potentially offsetting the positive EPS impact. Given the mixed nature of the report, the short-term impact is assessed as neutral.
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IMPORTANCE 90
RELEVANCE 100