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

Algonquin Power & Utilities

09/08/2024 16:34

* Algonquin Power & Utilities Corp  AQN.TO  reported
quarterly
adjusted earnings of 9 cents​​ per share for the quarter ended
in January, higher than the same quarter last year, when the
company reported EPS of 8 cents.  The mean expectation of
seven analysts for the quarter was for earnings of 8 cents per
share. Wall Street expected results to range from 7 cents to 9
cents per share.
    * Revenue fell 4.7% to $598.60 million from a year ago;
analysts
expected $625.00 million. 
    * Algonquin Power & Utilities Corp's reported EPS for the
quarter
was 28 cents​.
    * The company reported quarterly net income of $200.8
million.
    * Algonquin Power & Utilities Corp shares had risen by 5.6%
this
quarter and gained 1.6% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 16.4%
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 no "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 $7.21 
This summary was machine generated from LSEG data August 9 at
03:34 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
 Jun. 30 2024      0.08           0.09           Beat
 Mar. 31 2024      0.16           0.14           Missed
 Dec. 31 2023      0.15           0.16           Beat
 Sep. 30 2023      0.12           0.11           Missed