AES has reaffirmed its 2021 guidance and 7 percent to 9 percent average annual growth target through 2025.
The company, which has achieved several key strategic milestones, reported its financial results for the quarter ended March 31, 2021.
“This unique product sets a new standard in renewable procurement for commercial and industrial customers, who signed 23 GW of contracts for renewables in 2020,” said Andrés Gluski, AES president and chief executive officer. “We are also well on our way to achieving our annual goal of signing 4 GW of new renewables under long-term contracts, with 1,088 MW already secured year-to-date. Additionally, we secured a 20-year tolling agreement for more than 40 percent of our excess LNG terminal capacity in Central America.”
First quarter 2021 diluted earnings per share from continuing operations (Diluted EPS) was ($0.22), a decrease of $0.44 compared to first quarter 2020, primarily reflecting $0.45 of increased impairment expense. This impact is largely associated with AES Puerto Rico, which now has a shorter than previously expected useful life, primarily as a result of new and proposed regulations and the company’s decarbonisation strategy.
First quarter 2021 adjusted earnings per share (Adjusted EPS, a non-GAAP financial measure) was $0.28, a decrease of $0.01 compared to first quarter 2020, primarily reflecting a higher effective tax rate.
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