Power Company Aes Reports Sharp Earnings Drop

NewsOK.com RSS - business, Daily Oklahoman: Business
Thu, 05/09/2013 - 10:37am

NEW YORK (AP) — The AES Corp. reported a 76 percent drop in its first-quarter net income on Thursday, as the company's results were hit by a one-off settlement over a power plant, foreign-exchange rates and sliding revenue. Both earnings and revenue fell short of analysts' estimates, and the power company's shares dropped 3.2 percent in midday trading, losing 44 cents to $13.46. The power company, based in Arlington, Va., earned $82 million, or 11 cents per share, in the three months ended March 31, down from $341 million, or 44 cents per share, a year ago. On an adjusted basis, earnings were 26 cents per share.

Topics: york ap the aes corp arlington va march newsok the earnings drop power company cents share percent million revenue

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Power Company Aes Reports Sharp Earnings Drop

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