Algonquin Power & Utilities Corp reports results for the quarter ended in December - Earnings Summary

Algonquin Power & Utilities

08/03/2024 14:32

* Algonquin Power & Utilities Corp  AQN.TO  reported
quarterly
adjusted earnings of 16 cents​​ per share for the quarter ended
in December, lower than the same quarter last year, when the
company reported EPS of 22 cents.  The mean expectation of
nine analysts for the quarter was for earnings of 15 cents per
share. Wall Street expected results to range from 11 cents to 19
cents per share.
    * Revenue fell 10.8% to $666.90 million from a year ago;
analysts
expected $652.95 million. 
    * Algonquin Power & Utilities Corp's reported EPS for the
quarter
was 27 cents​.
    * The company reported quarterly net income of $186.3
million.
    * Algonquin Power & Utilities Corp shares had fallen by 1.6%
this
quarter.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 7.8%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is 2 "strong buy" or "buy," 7
"hold" and 1 "sell" or "strong sell." 
    * The average consensus recommendation for the multiline
utilities
peer group is also "hold"

Wall Street's median 12-month price target for Algonquin Power &
Utilities Corp is $7.50 
This summary was machine generated from LSEG data March 8 at
02:30 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Dec. 31 2023      0.15           0.16           Beat
 Sep. 30 2023      0.12           0.11           Missed
 Jun. 30 2023      0.10           0.08           Missed
 Mar. 31 2023      0.17           0.17           Met