Financial Data and Key Metrics Changes - The company reported year-over-year growth in revenue and adjusted EBITDA of 1% and 4%, respectively, primarily due to the implementation of new rates across several regulated business facilities [28] - Adjusted net earnings and adjusted net earnings per share decreased by 5% and 20%, respectively, due to higher operating expenses, depreciation, and interest expense [29] - The Q3 balance sheet debt, including continuing and discontinued operations, is $8.7 billion, which increased from Q2 [31] Business Line Data and Key Metrics Changes - Adjusted EBITDA growth for the regulated business in Q3 was up 3% year-over-year, driven by new rates and higher HLBV income [30] - The company has 13 pending rate reviews, representing approximately $205 million in revenue requests [26] Market Data and Key Metrics Changes - The company expects to receive approximately $1.7 billion to $1.8 billion in net proceeds from the renewable sale after satisfying off-balance sheet construction loan obligations and other renewable liabilities [31] - The Hydro business represents an annual EBITDA run rate of approximately $25 million [13] Company Strategy and Development Direction - The company is transitioning to a pure-play regulated utility, having made strategic decisions to simplify and focus the business [9] - The company plans to monetize its Hydro fleet as part of the separation transaction, with the sale process expected to begin in the first half of 2025 [13] - The company aims to recover and earn a return on capital already invested but not yet captured in authorized rates, with three large rate cases expected to improve returns [19] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the actions being taken to position the business for customer value and growth through simplification and focus [13] - The company anticipates that 2025 will be the first year focused entirely on the regulated business, with short-term results impacted by the timing of rate cases [23] - Management is optimistic about the potential for improved rate case outcomes and leveraging the new IT platform for operational efficiency [23] Other Important Information - The company has filed rate cases for Empire Electric in Missouri and CalPeco in California, with expected revenue increases of approximately $92 million and $39.8 million, respectively [20][25] - The company is not providing 2025 guidance at this point but plans to offer guidance when reporting fourth-quarter results [35] Q&A Session Summary Question: Can you provide more color on the remaining $300 million in rate case submissions? - Management indicated that they will continue to file rate cases but did not provide specific details on the remaining amount [40] Question: What impact could the Empire rate case have on 2025? - Management noted that while the rate case was just filed, historical resolution times suggest a small impact in 2025, with more significant benefits expected in 2026 [42] Question: Any updates on the Hydro process? - Management confirmed there have been expressions of interest but stated that the process has not yet started, focusing first on larger asset sales [50] Question: How will proceeds from Hydro assets be utilized? - Management emphasized maintaining flexibility and self-funding as priorities, with no immediate plans for share buybacks [55]

Unaudited Interim Condensed Consolidated Financial Statements of Algonquin Power & Utilities Corp. For the three and nine months ended September 30, 2024 and 2023 | --- | --- | --- | --- | --- | --- | --- | --- | --- | |---------------------------------------------------------------------------------------------------------------------------------------|-------|----------------------|-------|----------------------|-------|-----------------------|-------|--------------------| | (thousands of U.S. dollars, ex ...

Core Points - Algonquin Power & Utilities Corp. (AQN) has declared dividends for common and preferred shares, with a common share dividend of US$0.0650 payable on January 15, 2025, and preferred share dividends of C$0.41100 for Series A and C$0.42831 for Series D, both payable on December 31, 2024 [1][2][4] Group 1 - The common share dividend is payable to shareholders of record on December 31, 2024, for the period from October 1, 2024, to December 31, 2024 [1] - Preferred share dividends for Series A and Series D are payable to holders of record on December 13, 2024, for the period from September 30, 2024, to December 31, 2024 [1][2] - AQN suspended its dividend reinvestment plan (DRIP) for common shares effective March 16, 2023, with potential reinstatement in the future [2] Group 2 - Dividends on common shares are declared in U.S. dollars, with beneficial shareholders in Canada or the U.S. able to request payment in either U.S. dollars or Canadian dollars [3] - Registered holders of common shares receive dividends in the currency of residency and can change the payment currency by contacting TSX Trust Company [3][4] - The Canadian dollar equivalent of the common share dividend is based on the Bank of Canada daily average exchange rate on the day before the declaration date [4] Group 3 - Algonquin Power & Utilities Corp. has approximately $18 billion in total assets and provides energy and water solutions to over one million customer connections, primarily in the U.S. and Canada [5] - The company owns, operates, and has net interests in over 4 GW of installed renewable energy capacity [5] - AQN's shares are listed on the Toronto Stock Exchange and the New York Stock Exchange under various symbols [5]

Making progress in strategic transition to regulated utilityOAKVILLE, ON, Nov. 7, 2024 /PRNewswire/ - Algonquin Power & Utilities Corp. (TSX: AQN) (NYSE: AQN) ("AQN" or the "Company") announced today financial results for the third quarter ended September 30, 2024. All amounts are shown in United States dollars ("U.S. $" or "$"), unless otherwise noted."We continue to hit key milestones on our journey towards a simpler and more focused regulated business," said Chris Huskilson, Chief Executive Officer of AQ ...

The market expects Algonquin Power & Utilities (AQN) to deliver a year-over-year decline in earnings on higher revenues when it reports results for the quarter ended September 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.The earnings report, which is expected to be released on November 7, 2024, might help the stock move higher if the ...

Algonquin Power & Utilities Corp. (NYSE: AQN ) is streamlining and simplifying its business. The company is divesting its renewable assets to concentrate solely on Regulated Services, which are expected to provide stable and predictable profits as well as dividends. Long-Term Focussed In-Depth Fundamental Analysis.Former Associate at a $10 billion hedge fund, with 15 years of professional experience in equity markets. Holds a First-Class Honours degree in Financial Economics from the University of London an ...

OAKVILLE, ON, Oct. 11, 2024 /PRNewswire/ - Algonquin Power & Utilities Corp. (TSX: AQN) (NYSE: AQN) ("AQN") today announced plans to release its third quarter 2024 financial results on Thursday, November 7, 2024, before market open. AQN will hold an earnings conference call at 10:00 a.m. eastern time on Thursday, November 7, 2024, hosted by Chief Executive Officer, Chris Huskilson, and Chief Financial Officer, Darren Myers.Conference call details are as follows: Date: Thursday, November 7, 2024 Time: 10:00 ...

Long-Term Focussed In-Depth Fundamental Analysis.Former Associate at a $10 billion hedge fund, with 15 years of professional experience in equity markets. Holds a First-Class Honours degree in Financial Economics from the University of London and is a CFA Level III candidate.An avid reader and a Berkshire Hathaway buff.Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrot ...

Andrii Sedykh/iStock via Getty Images The biggest reason why I, as a mid-30s investor, prefer investing in high-yielding stocks over high-growth stocks is that I believe I am able to reduce the number of investing mistakes I make by using this approach. This is because valuing companies that pay out high dividend yields and generate consistently slow growth rates is much easier than valuing companies that rely on sustaining very high-growth rates well into the future to justify their current valuations. ...

When Life Gives You Lemons, Hurl Them At Algonquin Merbe/E+ via Getty Images We have had a long history with following Algonquin Power & Utilities Corp. (NYSE:AQN). We jumped shipped ahead of the first dividend cut and then turned stayed out over the course of the next year or so. We turned bullish near $5.50 as the stock showed promise of a value play. We are updating our outlook with the recently released transactions and the Q2-2024 results. Q2-2024 AQN missed the top-line numbers but exceeded the bot ...