Algonquin Power & Utilities: Fourth Quarter Earnings Overview

Algonquin Power & Utilities Reports Return to Profit in Fourth Quarter

Algonquin Power & Utilities Corp., headquartered in Oakville, Ontario, announced a net profit of $18.4 million for the fourth quarter, marking a turnaround from a loss during the same period last year.

The company recorded earnings of 3 cents per share, with adjusted earnings—excluding special items—coming in at 6 cents per share.

These results surpassed analysts’ expectations, as a consensus of three analysts polled by Zacks Investment Research had forecasted earnings of 4 cents per share.

During the quarter, the utility generated $630.7 million in revenue.

For the full year, Algonquin Power & Utilities achieved a net income of $170.3 million, or 22 cents per share, shifting from a loss to a profit. Annual revenue reached $2.43 billion.

Since the start of the year, the company’s stock has increased by 12%, and over the past year, shares have surged by 43%.

This article was produced by Automated Insights using data provided by Zacks Investment Research.