AGR
Avangrid Inc
Avangrid Inc
$AGR Reports 2023 Q1 Consolidated Net Income of $245 Million and Continued Focus on Sustainable Energy Operations.
Avangrid, a sustainable energy company, reported Q1 2023 consolidated net income of $245M or $0.63/share vs $445M or $1.15/share in Q1 2022; the latter included a $181M gain from restructuring. The company has been focused on operational excellence and providing value to shareholders, receiving positive court rulings on its NECEC transmission project, investing in clean energy transmission, and extending the PNM resources merger agreement. The company's renewables segment had a positive Q1, with increased production and tax credits, offset by higher expenses, while Networks saw increased depreciation, uncollectibles, and expenses. Avangrid remains committed to sustainability and has strong potential for long-term growth.
5mo ago
$AGR