Algonquin Power rises after Q4 revenue, profit beat

Algonquin Power & Utilities

08/03/2024 16:09

(Updates)
    ** Shares of Algonquin Power & Utilities Corp  AQN.TO  up
2.5% at C$8.44
    ** Company posts Q4 adj. EPS of 16 cents/shr vs est. of 15
cents/shr - LSEG data 
    ** Reports Q4 revenue of $666.9 mln vs est. of $652.9 mln -
LSEG data
    ** Co says it is not providing 2024 estimates due to
uncertainty regarding the planned sale of its renewable energy
business
    ** BMO Capital Markets analyst Ben Pham says 2024 outlook
being not initiated with no material updates on the renewable
sale process comes as no surprise, expect a slight positive
stock price reaction
    ** Including session's gains, AQN up ~1% YTD

 (Reporting by Roshia Sabu in Bengaluru)
 ((Roshia.Sabu@thomsonreuters.com))