Avangrid Q1 2024 Adj EPS $0.88 Beats $0.68 Estimate, Sales $2.417B Miss $2.537B Estimate
Portfolio Pulse from Benzinga Newsdesk
Avangrid (NYSE:AGR) reported Q1 2024 adjusted EPS of $0.88, surpassing the $0.68 estimate, but its sales of $2.417B fell short of the $2.537B estimate. This represents a 24.14% decrease in earnings and a 1.99% decrease in sales from the same period last year.

April 23, 2024 | 8:47 pm
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Avangrid reported a higher-than-expected Q1 2024 adjusted EPS of $0.88 but missed sales estimates with $2.417B, indicating mixed financial performance.
The beat on EPS estimates is positive, suggesting operational efficiency or cost management success. However, the miss on sales forecasts and the year-over-year decline in both earnings and sales could concern investors about growth prospects. The mixed results present a neutral outlook, as the positive EPS beat may offset concerns from the sales miss in the short term.
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