ORANGE, Conn. (AP) _ Avangrid Inc. (AGR) on Tuesday reported fourth-quarter profit of $166 million.

The Orange, Connecticut-based company said it had net income of 54 cents per share. Earnings, adjusted for non-recurring costs, were 62 cents per share.

The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 56 cents per share.

The diversified energy and utility company posted revenue of $1.67 billion in the period, matching Street forecasts.

For the year, the company reported profit of $581 million, or $1.88 per share. Revenue was reported as $6.32 billion.

Avangrid expects full-year earnings in the range of $2.15 to $2.35 per share.

Avangrid shares have declined slightly since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $45.23, a fall of 20% in the last 12 months.


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