AES Q2 Profit Misses Views

reported weaker-than-expected earnings for the second quarter on Monday. The Arlington, Virginia-based company reported quarterly net income of $69 million, or $0.10 per share, compared to $133 million, or $0.18 per share, in the year-ago period. Excluding one-time items, the company's earnings came in at $0.25 per share. Its revenue dropped to $3.86 billion from $4.31 billion. However, analysts were expecting earnings of $0.27 per share on revenue of $4.5 billion. "Despite significant macroeconomic challenges, we are on track to achieve our financial and strategic objectives. Earlier this year, we brought on-line our Mong Duong plant in Vietnam six months early. Our remaining 6 GW of projects under construction are on schedule and will drive our earnings and cash flow growth through 2018," said Andrés Gluski, AES President and Chief Executive Officer. For the full year, AES reaffirmed its earnings forecast of $1.25 to $1.35 per share. AES shares gained 0.32 percent to close at $12.64 on Friday.