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ARLINGTON, Va. (AP) _ The AES Corp. (AES) on Tuesday reported first-quarter net income of $154 million.
The Arlington, Virginia-based company said it had net income of 23 cents per share. Earnings, adjusted for pretax expenses and non-recurring costs, were 28 cents per share.
The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 30 cents per share.
The power company posted revenue of $2.65 billion in the period.
AES expects full-year earnings in the range of $1.28 to $1.40 per share.
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AES shares have risen 16% since the beginning of the year, while the Standard & Poor’s 500 index has climbed 17%. The stock has risen 36% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AES at https://www.zacks.com/ap/AES
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