AES Announces Reduced Annual Earnings Estimate
AES Corp. (Arlington, VA) announced that it is reducing its annual earnings per share estimate to a range of $1.25 to $1.45 for the fiscal year ending December 31, 2001.
Barry Sharp, CFO, commented, "We are disappointed that our operating results will not reach our original earnings expectations. A number of our businesses have performed better than expected so far this year, but not significantly enough to be able to offset the negative impacts on operating earnings, the most significant of which arose from shortfalls from Brazil, the UK and the loss of Mohave. Together, shortfalls in those three business areas will likely reduce our results this year by approximately $0.50 per share."