Avangrid, Inc.
avangrid.comNo Longer Reporting
The company has not filed an annual or quarterly report since its Q3 FY2024 10-Q, filed Oct 23, 2024. Its latest SEC filing is a 15-12G from Jan 2, 2025.
10-Q for Q3 FY2024, filed Oct 23, 2024
The sections below describe the company as of the FY2023 annual report.
What Did They Do?
Delivers electricity and natural gas through regulated utilities and generates renewable power for utility and public-sector customers.
10-K for FY2023, filed Feb 22, 2024Avangrid has approximately $44 billion in assets and operations in 24 states concentrated in our two primary lines of business - Avangrid…View ↗
Our direct, wholly-owned subsidiaries include Avangrid Networks, Inc., or Networks, and Avangrid Renewables Holdings, Inc., or ARHI. ARHI…View ↗
Through Networks, we own electric distribution, transmission and generation companies and natural gas distribution, transportation and…View ↗
The Renewables business, based in Portland, Oregon and Boston, Massachusetts, is engaged primarily in the design, development…View ↗
Renewables sells the majority of its energy output to large investor-owned utilities, public utilities and other credit-worthy entities.…View ↗
How Did They Make Money?
$8.3B
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10-K for FY2023, filed Feb 23, 2024
$8.3B ↗
Who Were Their Customers?
Residential, commercial, and institutional customers receive electricity and natural gas through regulated utilities. Utilities, public agencies, and other large buyers purchase renewable power, while wholesale customers buy thermal output.
10-K for FY2023, filed Feb 22, 2024
Did Revenues Turn Into Profits?
Yes. It kept 9 cents of every revenue dollar as net income in FY2023.
10-K for FY2023, filed Feb 23, 2024
How Were They Changing?
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Dec 23, 2024
Iberdrola completed its acquisition of Avangrid, which left the NYSE
Avangrid became Iberdrola’s wholly owned subsidiary, and its shares were delisted.
Sources
8-K, filed Dec 23, 2024
On December 23, 2024, pursuant to the terms and conditions set forth in the Merger Agreement, Merger Sub merged with and into the Company…View ↗
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Oct 24, 2024
Avangrid sold an offshore wind lease and associated assets
The sale closed, and Avangrid retained the Kitty Hawk South lease and rights to the Kitty Hawk name.
Sources
8-K, filed Oct 24, 2024
As previously reported, on July 8, 2024, Kitty Hawk North, LLC, an indirect wholly owned subsidiary of Avangrid, Inc. (the “Corporation”)…View ↗
Grew. Revenue grew 31% in 4 years, from $6.3B in FY2019 to $8.3B in FY2023, about 7% a year.
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