Avangrid, Inc.

NYSE:AGR Aktierapport

Börsvärde: US$13.9b

This company has been acquired

The company may no longer be operating, as it has been acquired. Find out why through their latest events.

Avangrid Tidigare resultatutveckling

Tidigare kriterier kontrolleras 5/6

Avangrid har ökat intäkterna med en genomsnittlig årlig takt på 7.8%, medan Electric Utilities -branschen såg intäkterna växer på 6% årligen. Intäkterna har varit växande med en genomsnittlig takt på 7.6% per år. Avangrid s avkastning på eget kapital är 4.8% och den har en nettomarginal på 12.9%.

Viktig information

7.85%

Tillväxttakt i vinsten

1.73%

Tillväxttakt för EPS

Electric Utilities Tillväxt i branschen6.28%
Intäkternas tillväxttakt7.64%
Avkastning på eget kapital4.78%
Nettomarginal12.89%
Senaste uppdateringen av resultatet30 Sep 2024

Senaste uppdateringar av tidigare prestationer

Recent updates

Seeking Alpha • Dec 27

Avangrid: There Are Better Utilities To Buy

Summary Avangrid, an energy services and delivery company, generated $1.92bn in revenues in Q3'23, a 10.73% YoY decline. The company aims for sustainable earnings growth, network growth, and ESG inclusion to remain a stable income pick. Avangrid's stock has underperformed the utility industry and the wider market, and it has the poorest performance among its peers. Read the full article on Seeking Alpha
Seeking Alpha • Oct 11

Avangrid: Dividend Should Be Suspended To Protect Cash

Summary Avangrid's stock has declined over 33% in the past 16+ months due to missed earnings projections and rising US bond yields. The company's dividend yield is currently 5.84%, which may attract long-term investors who see the stock as undervalued. Avangrid's dividend growth rates have been negligible over the past decade, and its dividend payout ratio is not sustainable due to free cash flow deficits. Read the full article on Seeking Alpha
Seeking Alpha • Jul 28

Avangrid Inc.: Expanding Wind Farms In Hopes Of Reaching Growth Targets

Summary Avangrid Inc. has shown strong results in the renewable energy industry, attracting capital and incentives to invest. The company has a solid market position in the offshore wind market and a history of growing its capacities. However, the growth outlook for AGR is slow compared to other companies in the sector, and its valuation is in line with the industry. AGR is considered a hold rather than a buy. Read the full article on Seeking Alpha
Seeking Alpha • Feb 21

Avangrid Non-GAAP EPS of $0.29 misses by $0.11, revenue of $2.16B beats by $350M

Avangrid press release (NYSE:AGR): Q4 Non-GAAP EPS of $0.29 misses by $0.11. Revenue of $2.16B (+11.9% Y/Y) beats by $350M. 2023 Earnings and Adjusted Earnings Outlook of $1.90-$2.10 per share and $2.20-$2.35 per share vs. $2.29 consensus, respectively; reiterating 6-7% EPS and Adjusted EPS Cumulative Annual Growth Rate through 2025 off of the mid-point of 2022 EPS outlook
Seeking Alpha • Oct 06

Avangrid: Risks Outweigh The Reward

Summary Avangrid kicks off its first investor day with new CEO Pedro Azagra at the helm. The mid-term financial targets were revised lower, but could still be vulnerable to downgrades depending on execution. At the current rich valuation, the risk/reward seems unfavorable at these levels. New CEO Pedro Azagra kicked off his tenure at Avangrid (AGR) with an aggressive growth message, although operating challenges still led to the mid-term EPS target range being lowered to 6-7% CAGR through 2025. To be clear, AGR's growth and dividend potential as a regulated utility are compelling over the long run - through increased investments and the partial sale of its onshore renewable ownership stakes, AGR is on track to build out a more stable earnings stream. Yet, execution remains the key overhang to the outlook over the next twelve months. In particular, the outcome of the pending New York/Connecticut/Maine rate cases could drive significant upward (or downward) revisions to the guidance, along with the pending PNM acquisition. At ~12x EBITDA, the valuation is also rich given the rate case risk and execution challenges ahead. Data by YCharts Offshore Wind as the Key Renewables Driver The primary renewables focus for AGR remains wind (offshore and onshore). For onshore wind, the company is adopting a more risk-adjusted approach via a partnership model. In line with this shift, AGR will sell down ~60% of its 2024-2025 onshore projects, with total onshore megawatts growth down to ~650MW through 2025 (vs the prior plan for ~2.3GW of onshore additions). Given the recent Inflation Reduction Act singled out the importance of renewables as a long-term focus, the lower onshore development targets came as a surprise. Expect the earnings growth potential to move lower as a result, although the move does free up equity financing for other projects or transactions. In the meantime, AGR's offshore scale at 2.4GW (under power purchase agreements) remains intact and should support the overall outlook for the renewables segment. Avangrid For now, execution is the key concern - AGR is guiding for further delays to the commercial operation date for Park City/Commonwealth due to the current supply chain challenges and interest rate headwinds. To mitigate the risk, AGR is increasingly de-risking its cash flow by expanding its regulated utility exposure to offset the risk (mainly via investments and sell downs of its onshore/offshore renewable ownership stakes). Still, I would remain cautious on the project risk associated with building out offshore wind farms, particularly given the limited visibility into project returns at this early stage of the industry cycle. Avangrid A Challenging Mid-Term Financial Outlook AGR's EPS CAGR over the 2022-2025 period now stands at 6-7% (down from the prior 6-8%), inclusive of contribution from PNM and New England Clean Energy Connect (NECEC), as well as new onshore renewables partnerships. The outlook also incorporates a $1.9bn equity raise in FY24 (although asset monetization could reduce the final amount) and proceeds from a partial sale of the Kitty Hawk lease. Of these, AGR's pending PNM acquisition is the top growth driver of the base case - even though an outcome is far from certain given AGR is still litigating in the New Mexico courts. At this stage, I don't take a view on the likelihood of a transaction closing, but would note the significant implications of a deal break to the earnings outlook (negative), as well as the balance sheet (positive, as it negates any future equity financing). Avangrid Beyond the PNM deal, following through on the planned renewable asset sales also represents a crucial step to achieving the mid-term target, particularly given the contribution has already been included in adj EPS. The bar is high for AGR's 2022 EPS guidance as well - at the $2.29/share mid-point, AGR is penciling in a sizeable ~$0.46/share of benefit from one-time offshore wind lease area gains. The current 2023 EPS expectations of around $2.20-$2.40/share also incorporates ~$100m of pre-tax contribution from the partial sale of its Kitty Hawk offshore wind lease area (equivalent to (~$0.20 of EPS). In sum, the execution bar is high and any challenges could result in more earnings downgrades ahead. Pending Rate Cases are the Key Near-Term Swing Factor AGR's active New York/Connecticut/Maine rate cases present material upside/downside to estimates, given these multi-year plans (through 2026) entail capital investments and ROEs well in excess of AGR's revised outlook. AGR has also not incorporated the requested capital/rate base increases in its current ~7% rate base growth outlook, so favorable (or unfavorable) outcomes will be worth keeping an eye on. For context, the NY rate case, the most material of the three, calls for a massive multi-year rate plan requiring $8.6bn of investments over the next three years. The capital outlay will need to be weighed against the ongoing impact of elevated commodity prices on customer bills, though, with the challenging backdrop likely weighing on rate activity going forward. In sum, securing multi-year plans without lofty efficiency targets will be a delicate balancing act for AGR's networks segment and thus, increases the execution risk.

Fördelning av intäkter och kostnader

Hur Avangrid tjänar och spenderar pengar. Baserat på senast rapporterade resultat, på rullande tolvmånadersbasis.

Resultat- och intäktshistorik

NYSE:AGR Intäkter, kostnader och resultat (USD Millions )
DatumIntäkterIntäkterG+A KostnaderFoU-kostnader
30 Sep 248,7051,122-140
30 Jun 248,596976-180
31 Mar 248,260892-200
31 Dec 238,309786-220
30 Sep 238,185536430
30 Jun 238,049582730
31 Mar 238,256681540
31 Dec 227,923881580
30 Sep 227,698898310
30 Jun 227,45890470
31 Mar 227,141818350
31 Dec 216,974707370
30 Sep 216,710709420
30 Jun 216,582685490
31 Mar 216,497675550
31 Dec 206,320581620
30 Sep 206,2586051020
30 Jun 206,275668950
31 Mar 206,283690860
31 Dec 196,336667790
30 Sep 196,394596630
30 Jun 196,453571840
31 Mar 196,4555681070
31 Dec 186,4775871280
30 Sep 186,3463991280
30 Jun 186,1413731640
31 Mar 186,0703861220
31 Dec 175,9633811200
30 Sep 175,921667570
30 Jun 175,99867700
31 Mar 176,106659190
31 Dec 166,01863200
30 Sep 165,68051900
30 Jun 165,31046400
31 Mar 164,81037300
31 Dec 154,36727300
30 Sep 154,33226800
30 Jun 154,26627800
31 Mar 154,26533000
31 Dec 144,59442400
30 Sep 145,3471200
30 Jun 145,1523300
31 Mar 144,8003961,1300
31 Dec 134,313-5100

Kvalitetsintäkter: AGR har inkomster av hög kvalitet.

Växande vinstmarginal: AGR s nuvarande netto vinstmarginaler (12.9%) är högre än förra året (6.5%).

Fritt kassaflöde vs resultatanalys

Analys av tidigare vinsttillväxt

Resultatutveckling: AGR s intäkter har ökat med 7.8% per år under de senaste 5 åren.

Accelererande tillväxt: AGR s intäktstillväxt under det senaste året ( 109.3% ) överstiger sitt 5-åriga genomsnitt ( 7.8% per år).

Resultat vs industri: AGR vinsttillväxt under det senaste året ( 109.3% ) översteg Electric Utilities branschen 9.5%.

Avkastning på eget kapital

Hög ROE: AGR s avkastning på eget kapital ( 4.8% ) anses vara låg.

Avkastning på tillgångar

Avkastning på sysselsatt kapital

Upptäck starka bolag som tidigare presterat bra

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Företagsanalys och finansiella data Status

UppgifterSenast uppdaterad (UTC-tid)
Analys av företag2024/12/23 16:18
Aktiekurs vid dagens slut2024/12/20 00:00
Intäkter2024/09/30
Årlig intjäning2023/12/31

Datakällor

Den data som används i vår företagsanalys kommer från S&P Global Market Intelligence LLC. Följande data används i vår analysmodell för att generera denna rapport. Data är normaliserade vilket kan medföra en fördröjning från det att källan är tillgänglig.

PaketUppgifterTidsramExempel US-källa
Företagets finansiella ställning10 år
  • Resultaträkning
  • Kassaflödesanalys
  • Balansräkning
Analytikernas konsensusuppskattningar+3 år
  • Prognos för finansiella poster
  • Analytikernas prismål
Marknadspriser30 år
  • Aktiekurser
  • Utdelningar, splittar och åtgärder
Ägarskap10 år
  • Största aktieägare
  • Insiderhandel
Förvaltning10 år
  • Ledningsgrupp
  • Styrelse och verkställande direktörer
Viktiga utvecklingstendenser10 år
  • Företagsmeddelanden

* Exempel för amerikanska värdepapper, för icke-amerikanska värdepapper används motsvarande regelverk och källor.

Om inget annat anges är all finansiell data baserad på en årsperiod men uppdateras kvartalsvis. Detta kallas data för efterföljande tolv månader (TTM) eller senaste tolv månader (LTM). Lär dig mer om detta.

Analysmodell och snöflinga

Detaljer om analysmodellen som användes för att skapa den här rapporten finns på vår Github-sida, vi har också guider om hur du använder våra rapporter och tutorials på Youtube.

Lär dig mer om det team i världsklass som utformade och byggde analysmodellen Simply Wall St.

Industri- och sektormått

Våra bransch- och sektionsmått beräknas var sjätte timme av Simply Wall St, detaljer om vår process finns tillgängliga på Github.

Källor för analytiker

Avangrid, Inc. bevakas av 11 analytiker. 5 av dessa analytiker lämnade de uppskattningar av intäkter eller resultat som användes som indata till vår rapport. Analytikernas inskickade estimat uppdateras löpande under dagen.

AnalytikerInstitution
Eric BeaumontBarclays
Paul ZimbardoBofA Global Research
Gregory GordonEvercore ISI