AES Corp (The) (AES) released its first quarter results on Thursday, May 6, 2021. The company reported net earnings of $-0.22 per share for the first quarter ending March 31, 2021. Earnings for this past quarter declined 203 percent compared to the same period a year ago.
The AES Corporation was founded in 1981 and is headquartered in Arlington, Virginia. The AES Corporation operates as a diversified power generation and utility company. It owns and/or operates power plants to generate and sell power to customers, such as utilities, industrial users, and other intermediaries.
AES(The)'s revenue increased 1 percent over the past trailing twelve-month period versus the previous twelve-month period. Gross margins increased to 35.67% for the first quarter compared to the same period in the previous year, and operating margins increased to 23.49% over the same period. Net earnings for past trailing twelve months were $-249.0 million, down 185% from the prior year.
Moving on to the balance sheet, AES(The)'s cash levels jumped 12% for the first quarter over the same period last year. Overall liquidity of the balance sheet, as measured by the current ratio, increased 17.33% this past year. The current ratio for AES(The) now stands at 1.24. The company increased shares outstanding by 0.2%.
Shares of AES are currently trading around $25.79. In terms of valuation, the stock is trading at a price to book ratio of 7.36.
_____
This article was written by Value Investing News (https://www.valueinvestingnews.com) on Sunday, May 9, 2021.