AES Expects FY Adj. EPS To Be In Lower Half Of $1.00 To $1.10 Range

(RTTNews) - AES Corp. (AES) provided an update on its operations in Puerto Rico and the U.S. Virgin Islands, following Hurricanes Irma and Maria.

The company sustained modest damage to its 24 MW Illumina solar plant and minor damage to its 524 MW AES Puerto Rico coal-fired plant, both located in Puerto Rico. One of the two units at AES Puerto Rico is available to generate electricity, while the inspection of the second unit is ongoing. The company's 5 MW USVI Solar I solar plant in the U.S. Virgin Islands has been materially damaged.

The impact on the Company's 2017 Adjusted EPS is expected to be $0.03 to $0.05, which is related to the damages to the three plants, business interruption and deductibles under the Company's captive insurance policy.

The company reaffirmed ts 2017 guidance for all metrics, but now expects Adjusted EPS to be in the lower half of the $1.00 to $1.10 range. The Company's 2017 guidance for Consolidated Free Cash Flow is $1.400 billion to $2.000 billion and Operating Cash Flow is $2.000 billion to $2.800 billion .