ORANGE, Conn. (AP) — ORANGE, Conn. (AP) — Avangrid Inc. (AGR) on Tuesday reported third-quarter profit of $205 million.
The Orange, Connecticut-based company said it had net income of 53 cents per share. Earnings, adjusted for non-recurring costs and pretax expenses, were 55 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 33 cents per share.
The diversified energy and utility company posted revenue of $2.08 billion in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $2.01 billion.
Avangrid shares have risen 10% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $35.80, an increase of 22% in the last 12 months.
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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
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