Avangrid Q1 2023 Earnings Report

Avangrid EPS Results

• Actual EPS: $0.64
• Consensus EPS: $0.76
• Beat/Miss: Missed by -$0.12
• One Year Ago EPS: $1.16

Avangrid Revenue Results

• Actual Revenue: $2.47 billion
• Expected Revenue: $2.22 billion
• Beat/Miss: Beat by +$248.34 million
• YoY Revenue Growth: +15.60%

Avangrid Announcement Details

• Quarter: Q1 2023
• Date: 4/26/2023
• Time: After Market Closes

Avangrid (NYSE:AGR), an energy services holding company, engages in the regulated energy transmission and distribution, and renewable energy generation businesses in the United States. The company operates through Networks and Renewables segments. It is involved in the generation, transmission, and distribution of electricity; and distribution, transportation, and sale of natural gas. In addition, the company operates renewable energy generation facilities primarily using onshore wind power, as well as solar, biomass, and thermal power. Further, it delivers natural gas and electricity to residential, commercial, and institutional customers through its regulated utilities in New York, Maine, Connecticut, and Massachusetts; and sells its output to investor-owned utilities, public utilities, and other credit-worthy entities, as well as generates and provides power and other services to federal and state agencies, institutional retail, and joint action agencies. Additionally, the company delivers thermal output to wholesale customers in the Western United States. It owns eight electric and natural gas utilities, serving 3.3 million customers in New York and New England, as well as owns and operates 9.3 gigawatts of electricity capacity primarily through wind power in 22 states. Avangrid, Inc. was incorporated in 1997 and is headquartered in Orange, Connecticut. The company operates as a subsidiary of Iberdrola, S.A.