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Avangrid beats 3Q profit forecasts

ORANGE, Conn. (AP) _ Avangrid Inc. (AGR) on Tuesday reported third-quarter profit of $99 million.

On a per-share basis, the Orange, Connecticut-based company said it had profit of 32 cents. Earnings, adjusted for non-recurring costs, were 40 cents per share.

The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 37 cents per share.

The diversified energy and utility company posted revenue of $1.34 billion in the period.

Avangrid expects full-year earnings in the range of $2.10 to $2.35 per share.

Avangrid shares have increased 28 percent since the beginning of the year. The stock has climbed 22 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 AGR at https://www.zacks.com/ap/AGR