AES expands asset sales.
We are reaffirming our fair value estimate of $12 per share after AES reported weak third-quarter earnings but reaffirmed its 8%-10% earnings and cash flow growth guidance through 2020. On Oct. 9, AES announced that three power plants in the Caribbean had suffered damage and the potential earnings per share impact was $0.03-$0.05. We now expect 2017 EPS to be in the lower half of its $1.00-$1.10 guidance range. Our no-moat and stable moat trend ratings are unchanged.The company's aggressive con...
AES is a holding company. Through its subsidiaries, the company operates a portfolio of electricity generation and distribution businesses. The first business line is generation, where the company owns and/or operates power plants to generate and sell power to customers, such as utilities, industrial users, and other intermediaries. The second business line is utilities, where the company owns and/or operates utilities to generate or purchase, distribute, transmit and sell electricity to end-user customers in the residential, commercial, industrial and governmental sectors within a defined service area. In certain circumstances, the company's utilities also generates and sells electricity on the wholesale market.
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