ORANGE, Conn. (AP) — ORANGE, Conn. (AP) — Avangrid Inc. (AGR) on Wednesday reported third-quarter earnings of $59 million.
On a per-share basis, the Orange, Connecticut-based company said it had profit of 15 cents. Earnings, adjusted for one-time gains and costs, came to 27 cents per share.
The results missed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 42 cents per share.
The diversified energy and utility company posted revenue of $1.97 billion in the period, also missing Street forecasts. Three analysts surveyed by Zacks expected $1.99 billion.
Avangrid shares have fallen 31% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $29.74, a decrease of 27% 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