AES: Q1 Earnings Snapshot
ARLINGTON, Va. (AP) — ARLINGTON, Va. (AP) — The AES Corp. (AES) on Thursday reported first-quarter earnings of $151 million.
The Arlington, Virginia-based company said it had profit of 21 cents per share. Earnings, adjusted for one-time gains and costs, came to 22 cents per share.
The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 24 cents per share.
The power company posted revenue of $3.24 billion in the period, topping Street forecasts. Three analysts surveyed by Zacks expected $2.85 billion.
AES expects full-year earnings in the range of $1.65 to $1.75 per share.
AES shares have dropped 22% since the beginning of the year, while the S&P's 500 index has climbed almost 6%. In the final minutes of trading on Thursday, shares hit $22.48, a rise of roughly 3% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a AES">Zacks stock report on AES at https://www.zacks.com/ap/AES
