Enters Into Cooperation Agreement with StarboardOAKVILLE, ON, April 18, 2024 /PRNewswire/ - Algonquin Power & Utilities Corp. ("Algonquin", "AQN" or the "Company") (TSX: AQN) (NYSE: AQN) today announced that its Board of Directors (the "Board") intends to add Brett Carter, former Executive Vice President and Group President, Utilities and Chief Customer Officer of Xcel Energy Inc., and Christopher Lopez, outgoing Executive Vice President, Chief Financial and Regulatory Officer of Hydro One Limited, to the B ...

OAKVILLE, ON, March 22, 2024 /PRNewswire/ - Algonquin Power & Utilities Corp. ("Algonquin" or the "Company") (TSX: AQN) (NYSE: AQN) today issued the following statement regarding the director nominations submitted by Starboard Value LP (together with its affiliates, "Starboard") to stand for election to the Algonquin Board of Directors at the Company's 2024 Annual General Meeting of Shareholders (the "Annual Meeting"): Algonquin maintains open communications with its shareholders and appreciates constructiv ...

z1bHigh-yield stocks (DIV) have been taking a beating in recent years due to soaring interest rates: Data by YChartsThis pullback has been particularly pronounced in sectors like REITs (VNQ) and utilities and infrastructure (UTF): Data by YChartsThat being said, there are numerous opportunities in these sectors that offer lucrative 6-10% yields. Not only that, but these yields are well-covered by cash flows, are growing year after year, and have very defensive business models, investment-grade balance s ...

OAKVILLE, ON, March 19, 2024 /PRNewswire/ - Further to the press releases of Algonquin Power & Utilities Corp. ("AQN" or the "Company") (TSX: AQN) (NYSE: AQN) dated February 20, 2024 and March 4, 2024, the Company announced today that none of its outstanding 4,000,000 Cumulative Rate Reset Preferred Shares, Series D (the "Series D Preferred Shares") will be converted on April 1, 2024 into Cumulative Floating Rate Preferred Shares, Series E (the "Series E Preferred Shares") of the Company. During the convers ...

Algonquin Power & Utilities Corp. (NYSE:AQN) Q4 2023 Earnings Conference Call March 8, 2024 8:30 AM ET Company Participants Brian Chin - Vice President, Investor Relations Chris Huskilson - Interim Chief Executive Officer Darren Myers - Chief Financial Officer Conference Call Participants Sean Steuart - TD Securities Nelson Ng - RBC Capital Markets Rob Hope - Scotiabank Paul Zimbardo - Bank of America Mark Jarvi - CIBC Ben Pham - BMO Capital Markets Operator Hello and welcome to the Algonquin Power & Utilit ...

Algonquin Power & Utilities (AQN) came out with quarterly earnings of $0.16 per share, beating the Zacks Consensus Estimate of $0.14 per share. This compares to earnings of $0.22 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 14.29%. A quarter ago, it was expected that this utility operator would post earnings of $0.11 per share when it actually produced earnings of $0.11, delivering no surprise.Over the last four quarters, t ...

Financial Performance - Fourth Quarter Adjusted EBITDA increased by 13% to $334.3 million[3] - Fourth Quarter Adjusted Net Earnings rose by 18% to $115.5 million[3] - Annual Adjusted EBITDA grew by 4% to $1,235.4 million[3] - Annual Adjusted Net Earnings decreased by 11% to $372.0 million[3] - Net earnings attributable to shareholders for Q4 2023 were $186.3 million, compared to a loss of $74.4 million in Q4 2022[22] - Adjusted EBITDA for Q4 2023 was $334.3 million, up from $295.5 million in Q4 2022[22] - Adjusted Net Earnings for Q4 2023 were $115.5 million, compared to $97.6 million in Q4 2022[24] - Adjusted Funds from Operations for Q4 2023 were $198.9 million, up from $191.9 million in Q4 2022[26] - Dividends per common share decreased by 40% to $0.1085 in Q4[4] Regulated Services Group Performance - Regulated Services Group Divisional Operating Profit increased by 11% to $238.3 million in Q4[4] - Regulated Services Group revenue decreased by 11% to $564.9 million in Q4[4] - Regulated electricity distribution revenue for Q4 2023 was $297.0 million, down from $325.8 million in Q4 2022[28] - Regulated gas distribution revenue for Q4 2023 was $167.4 million, down from $221.8 million in Q4 2022[28] - Regulated water reclamation and distribution revenue for Q4 2023 was $100.5 million, up from $89.0 million in Q4 2022[28] - Divisional Operating Profit for the Regulated Services Group in Q4 2023 was $238.3 million, up from $214.4 million in Q4 2022[28] Renewable Energy Group Performance - Renewable Energy Group placed in service 453 MW of new wind and solar generation in 2023[6] - Renewable Energy Group revenue declined by 7% to $82.1 million in Q4[4] - Revenue from Hydro decreased to $9.0 million in Q4 2023 from $13.1 million in Q4 2022, a decline of 31.3%[30] - Wind energy revenue dropped to $59.4 million in Q4 2023 from $64.5 million in Q4 2022, a decrease of 7.9%[30] - Solar energy revenue increased to $6.6 million in Q4 2023 from $2.8 million in Q4 2022, a growth of 135.7%[30] - Total Non-Regulated Energy Sales fell to $82.1 million in Q4 2023 from $88.6 million in Q4 2022, a decrease of 7.3%[30] - Net Energy Sales decreased to $78.1 million in Q4 2023 from $83.2 million in Q4 2022, a decline of 6.1%[30] - Total Net Revenue dropped to $86.0 million in Q4 2023 from $91.1 million in Q4 2022, a decrease of 5.6%[30] - Operating expenses decreased to $30.5 million in Q4 2023 from $31.7 million in Q4 2022, a reduction of 3.8%[30] - Dividend, interest, equity and other income increased to $32.8 million in Q4 2023 from $21.6 million in Q4 2022, a growth of 51.9%[30] - HLBV income decreased to $19.3 million in Q4 2023 from $20.5 million in Q4 2022, a decline of 5.9%[30] - Divisional Operating Profit rose to $107.6 million in Q4 2023 from $101.5 million in Q4 2022, an increase of 6.0%[30] Debt and Income - Long-term Debt increased by 13% to $8,516.0 million[4] - HLBV income for Q4 2023 was $16.8 million, compared to $2.2 million in Q4 2022[28] Utility Sales - Net Utility Sales for Q4 2023 were $403.3 million, compared to $392.8 million in Q4 2022[28]

OAKVILLE, ON, March 8, 2024 /PRNewswire/ - Algonquin Power & Utilities Corp. ("AQN") (TSX: AQN) (TSX: AQN.PR.A) (TSX: AQN.PR.D) (NYSE: AQN) announced today that its board of directors has approved and declared the following common and preferred share dividends: US$0.1085 per common share, payable on April 15, 2024, to the shareholders of record on March 28, 2024, for the period from January 1, 2024 to March 31, 2024. Registered shareholders can elect to receive the dividend in Canadian dollars in the amoun ...

OAKVILLE, ON, March 4, 2024 /PRNewswire/ - Further to the news release of Algonquin Power & Utilities Corp. ("AQN" or the "Company") (TSX: AQN) (NYSE: AQN) dated February 20, 2024, the Company announced today the applicable dividend rates, determined as of March 1, 2024, for its Cumulative Rate Reset Preferred Shares, Series D (the "Series D Preferred Shares") and Cumulative Floating Rate Preferred Shares, Series E (the "Series E Preferred Shares"). With respect to any Series D Preferred Shares that remain ...

Algonquin Power & Utilities (AQN) is expected to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended December 2023. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.The earnings report, which is expected to be released on March 8, 2024, might help the stock move higher if these key numbers are ...