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AES misses 3Q profit forecasts

ARLINGTON, Va. (AP) _ The AES Corp. (AES) on Thursday reported third-quarter net income of $152 million.

On a per-share basis, the Arlington, Virginia-based company said it had net income of 23 cents. Earnings, adjusted to extinguish debt and for non-recurring costs, were 24 cents per share.

The results missed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 29 cents per share.

The power company posted revenue of $3.63 billion in the period.

AES expects full-year earnings in the range of $1 to $1.10 per share.

AES shares have decreased 9 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 15 percent. The stock has fallen slightly more than 9 percent 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