AES: 2Q Earnings Snapshot
ARLINGTON, Va. (AP) _ The AES Corp. (AES) on Tuesday reported second-quarter earnings of $290 million.
The Arlington, Virginia-based company said it had profit of 44 cents per share. Earnings, adjusted to account for discontinued operations, were 25 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 28 cents per share.
The power company posted revenue of $2.54 billion in the period.
AES expects full-year earnings in the range of $1.15 to $1.25 per share.
AES shares have risen 28 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen almost 7 percent. The stock has increased 25 percent in the last 12 months.