Avangrid, Inc. Company profile
About Avangrid Inc
Avangrid, Inc. is an energy company in the United States. The Company operates through two segments: Networks and Renewables. The Network segment includes all the energy transmission and distribution activities, any other regulated activity originating in New York and Maine, and regulated electric distribution, electric transmission and gas distribution activities originating in Connecticut and Massachusetts. The Renewables segment activities related to renewable energy, mainly wind energy generation and trading related with such activities. It operates in approximately 24 states with two primary lines of business: Avangrid Networks and Avangrid Renewables. Avangrid Networks owns over eight electric and natural gas utilities in New York and New England. Avangrid Renewables owns and operates over eight gigawatts of electricity capacity, primarily through wind and solar power, in over 22 states across the United States.
Financial summary
BRIEF: For the fiscal year ended 31 December 2021, Avangrid Inc revenues increased 10% to $6.97B. Net income increased 22% to $707M. Revenues reflect Networks segment increase of 11% to $5.75B, Renewables segment increase of 8% to $1.22B. Net income benefited from Renewables segment income totaling $26M vs. loss of $16M. Dividend per share remained flat at $1.76. Basic Earnings per Share excluding Extraordinary Items increased from $1.88 to $1.97.
Equity composition
Common Stock $.01 Par, 7/08, 300M auth., 158,346,335 s/o, net of Treas. @ $2M. Insiders own 2% (incl. 1.2M shs. in options). PO10/83, 3M shares @ $21.50 by Merrill Lynch. 09/08, Company acquired by Iberdrola, S.A. @ $28.50/sh.
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