AES Posts In-Line Q1 Earnings, But Revenue Misses Views

AES Corp (NYSE: AES) reported in-line earnings for the first quarter, but the company's sales missed analysts' estimates.The Arlington, Virginia-based company posted quarterly net income of $142 million, or $0.20 per share, versus a year-ago loss of $58 million, or $0.08 per share. Excluding items, the company earned $0.25 per share.Its revenue declined to $3.98 billion from $4.26 billion. However, analysts were expecting a profit of $0.25 per share on revenue of $4.39 billion.The average estimate among 5 Estimize users was for earnings of $0.26 per share and revenue of $4.34 billion."We are pleased with our business and financial performance this quarter and we are reaffirming our guidance ranges for cash flow and Adjusted EPS, despite a slightly more negative impact than we previously expected from hydrology in Brazil and foreign currency and commodity forward curves," said Tom O'Flynn, AES Executive Vice President and Chief Financial Officer. "With our recent Parent debt prepayment and refinancing, we have reduced total maturities between 2015 and 2018 from $840 million to $181 million."For the full year, AES reaffirmed its adjusted earnings forecast of $1.25 to $1.35 per share.AES shares rose 0.89 percent to close at $13.66 on Friday.