Shares of AES Corp. fell 1% in premarket trade Monday, after the power company said it expects adjusted 2017 earnings per share to be in the “lower half” of its previously provided $1.00-to-$1.10 guidance range, citing the negative impact of recent hurricanes. The company said the hurricanes potentially reduced adjusted EPS by 3 cent to 5 cents. AES said one of the two power generating units in Puerto Rico that sustained damage is now available to generate electricity, while the inspection of the other is ongoing. A solar plant in the U.S. Virgin Islands was “materially damaged.” The stock has rallied 4.0% over the past three months, while the SPDR Utilities Select Sector ETF has gained 3.8% and the S&P 500 has tacked on 5.1%.
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