AES: Q2 Earnings Snapshot
ARLINGTON, Va. (AP) _ The AES Corp. (AES) on Thursday reported a second-quarter loss of $136 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Arlington, Virginia-based company said it had a loss of 27 cents. Earnings, adjusted for non-recurring costs, were 34 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 31 cents per share.
The power company posted revenue of $3.08 billion in the period.
AES shares have dropped slightly more than 5% since the beginning of the year, while the S&P’s 500 index has declined 13%. In the final minutes of trading on Thursday, shares hit $23, a decline of almost 3% in the last 12 months.