Pattern Energy reports 4Q loss
SAN FRANCISCO (AP) _ Pattern Energy Group Inc. (PEGI) on Thursday reported a fourth-quarter loss of $8 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the San Francisco-based company said it had a loss of 8 cents. Earnings, adjusted for costs related to mergers and acquisitions and to extinguish debt, came to 11 cents per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 5 cents per share.
The wind power producer posted revenue of $110.7 million in the period, which fell short of Street forecasts. Three analysts surveyed by Zacks expected $128.6 million.