The AES's CEO Discusses Q2 2011 Results - Earnings Call Transcript
Executives
Paul Hanrahan - Chief Executive Officer, President, Executive Director and Chairman of Finance & Investment Committee
Joel Abramson - Vice President of Investor Relations
Andres Gluski - Chief Operating Officer and Executive Vice President
Victoria Harker - Chief Financial Officer and Executive Vice President
Analysts
Brian Russo - Ladenburg Thalmann & Co. Inc.
Brian Taddeo - Broadpoint Capital
Gregg Orrill - Barclays Capital
Ali Agha - SunTrust Robinson Humphrey, Inc.
Maura Shaughnessy - MFS Investment Management
The AES ( AES ) Q2 2011 Earnings Call August 5, 2011 10:00 AM ET
Operator
Welcome, and thank you for standing by. [Operator Instructions] Today's conference is being recorded. If you have any objections, please disconnect at this time. I would now like to turn the call over to Mr. Joel Abramson. Sir, you may begin.
Joel Abramson
Thank you, Carissa, and welcome to the AES Corporation Second Quarter Earnings Call. We appreciate you're being with us this morning. Joining me today are Paul Hanrahan, our President and CEO; Victoria Harker, our Chief Financial Officer; Andres Gluski, our Chief Operations Officer; and other senior members of our management.
Before we begin our presentation, let me remind you that our comments today will include forward-looking statements, which are subject to certain risks and uncertainties. For a complete discussion of these risks, we encourage you to read our documents on file with the Securities and Exchange Commission. Our presentation is being webcast and the slides are available on our website, which you can access at www.aes.com under Investor Relations.
With that, I'd like to turn the call over to Paul Hanrahan, our CEO. Paul?
Paul Hanrahan
Thanks, Joel, and good morning. Today, I'll briefly comment on our financial performance during the second quarter of 2011. After Victoria reviews the second quarter results in more detail, I'll give an update on several of our other significant projects under construction, as well as our progress on the development pipeline.
In the second quarter, we achieved the growth versus the first quarter we were expecting, putting us on a trajectory to hit our full year guidance. Excluding costs associated with our pending DPL acquisition, we earned $0.32 of adjusted EPS during the quarter and proportional free cash flow of $181 million. Year-to-date, we have earned $0.54 of adjusted EPS, which is approximately 50% of the midpoint of our full year guidance of $1.08 to $1.14 prior to the impact of DPL. This strong quarter was driven by volume growth in Chile, from both existing plants, as well as contributions from Unit 1 at our new coal-fired plant in the northern grid, Angamos, which came online in April.
What Is Aes - News
Thank you, Carissa, and welcome to the AES Corporation Second Quarter Earnings Call. We appreciate you're being with us this morning. Joining me today are Paul Hanrahan, our President and CEO; Victoria Harker, our Chief Financial Officer; Andres Gluski
AES (NYSE: AES) opened at $11.45. So far today, the stock has hit a low of $10.95 and a high of $12.13. AES is now trading at $11.03, down $0.66 (-5.67%). The stock hit its 52-Week high of $13.50 in April and set its 52-Week low of $10.03 last August.
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About AES – Advanced Encryption Standard
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FTD - AES - Getting Started
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