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Avangrid: Q4 Earnings Snapshot

Associated Press Finance
·1-min read

ORANGE, Conn. (AP) — ORANGE, Conn. (AP) — Avangrid Inc. (AGR) on Wednesday reported fourth-quarter earnings of $397 million.

On a per-share basis, the Orange, Connecticut-based company said it had net income of $1.03. Earnings, adjusted for non-recurring gains, came to 97 cents per share.

The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 94 cents per share.

The diversified energy and utility company posted revenue of $2.28 billion in the period, which missed Street forecasts. Four analysts surveyed by Zacks expected $2.42 billion.

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For the year, the company reported profit of $786 million, or $2.03 per share. Revenue was reported as $8.31 billion.

Avangrid shares have decreased slightly more than 1% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $31.97, a decrease of 21% 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 Zacks stock report on AGR at https://www.zacks.com/ap/AGR