The company said it earned $521.8 million, or $1.49 per share on a diluted basis, in Q1 2024. It earned $491.2 million, or $1.41 per share, in Q1 2023.

1. 01

   The company said it earned $521.8 million, or $1.49 per share on a diluted basis, in Q1 2024. It earned $491.2 million, or $1.41 per share, in Q1 2023.

2. 02

   The company said it signed an agreement on February 13, 2024 to sell its existing 50% interests in South Fork Wind and Revolution Wind to Global Infrastructure Partners. It expects to receive about $1.1 billion in cash at closing. Closing is expected later this year.

3. 03

   The company said cash flows from operating activities totaled $291.3 million in Q1 2024, Q1 2023 $69.2 million. Investments in property, plant and equipment totaled $1.15 billion in the same quarter, and Q1 2023 they were $977.1 million.

4. 04

   The company said it reaffirmed its 2024 non-GAAP earnings per share guidance range of $4.50 to $4.67. The range excludes the expected impact of the sale of its 50% interests in three jointly-owned offshore wind projects and related transaction costs.

Key figures

Quarter ended March 31, 2024

Revenue

$3.3B

Operating income

$846M

Net income

$524M

EPS

$1.49

Operating cash flow

$291M

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.