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ARLINGTON, Va. (AP) _ The AES Corp. (AES) on Thursday reported a first-quarter loss of $148 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 22 cents. Earnings, adjusted for non-recurring costs, came to 28 cents per share.
The results did not meet 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 $2.64 billion in the period.
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AES expects full-year earnings in the range of $1.50 to $1.58 per share.
AES shares have increased 13% since the beginning of the year, while the S&P’s 500 index has climbed 11%. The stock has more than doubled 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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