ORANGE, Conn. (AP) _ Avangrid Inc. (AGR) on Tuesday reported second-quarter earnings of $110 million.
On a per-share basis, the Orange, Connecticut-based company said it had profit of 36 cents. Earnings, adjusted for one-time gains and costs, came to 33 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 40 cents per share.
The diversified energy and utility company posted revenue of $1.4 billion in the period.
Avangrid expects full-year earnings in the range of $2.25 to $2.35 per share.
Avangrid shares have decreased 3% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $48.50, a fall of 7% in the last 12 months.