AVANGRID, Inc. (AGR) Misses Q2 EPS by 11c

AVANGRID, Inc. (NYSE: AGR) reported Q2 EPS of $0.32, $0.11 worse than the analyst estimate of $0.43. Revenue for the quarter came in at $1.44 billion versus the consensus estimate of $1.29 billion.

Outlook

AVANGRID is affirming its consolidated earnings outlook for 2016 of $2.10-$2.20 per share. The earnings outlook for both the Networks and Other segments have been revised due to a non-business driver. The sale of AVANGRID’s equity interest in the Iroquois Gas Transmission Pipeline was recorded in the first quarter 2016 in Other, however, the previous outlook estimate included the sale in Networks, therefore, earnings for the Networks business have been revised to $1.56-$1.62 per share, compared to the previously reported estimate of $1.62-$1.68 per share and earnings for the Other segment have been revised to $0.00-$0.01 per share, compared to the previously reported estimate of $(0.06)-$(0.05) per share.

For earnings history and earnings-related data on AVANGRID, Inc. (AGR) click here.

You May Also Be Interested In

• Midday movers: Meta, IBM, Caterpillar fall; Chipotle rises
• West Bancorporation (WTBA) Tops Q1 EPS by 8c
• Southern Copper Corp. (SCCO) Tops Q1 EPS by 20c