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 ...

Core Viewpoint - Algonquin Power & Utilities (AQN) is anticipated to report a year-over-year decline in earnings due to lower revenues, with the earnings report expected on March 8, 2024, which could significantly influence the stock price depending on the actual results compared to estimates [1][2]. Earnings Estimates - The consensus estimate for quarterly earnings is $0.14 per share, reflecting a year-over-year decrease of 36.4% [2]. - Expected revenues are projected at $743 million, a decline of 0.7% from the same quarter last year [2]. Estimate Revisions - The consensus EPS estimate has remained unchanged over the last 30 days, indicating that analysts have not significantly reassessed their initial estimates during this period [2]. - The Most Accurate Estimate for Algonquin Power & Utilities is lower than the Zacks Consensus Estimate, resulting in an Earnings ESP of -11.97%, suggesting a bearish outlook from analysts [4][5]. Earnings Surprise Prediction - The Zacks Earnings ESP model indicates that a positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank of 1, 2, or 3 [4]. - Algonquin Power & Utilities currently holds a Zacks Rank of 4, making it challenging to predict an earnings beat conclusively [5][6]. Historical Performance - In the last reported quarter, Algonquin Power & Utilities met the expected earnings of $0.11 per share, resulting in no surprise [7]. - Over the past four quarters, the company has beaten consensus EPS estimates twice [7]. Conclusion - The combination of a negative Earnings ESP and a Zacks Rank of 4 suggests that Algonquin Power & Utilities may not be a compelling candidate for an earnings beat [6][8]. - Investors are advised to consider other factors beyond earnings expectations when evaluating the stock ahead of its earnings release [8].

Investors have been waiting for renewable energy stocks to live up to their potential. After being beaten down in 2023, many investors are hopeful that 2024 will be a better year. No matter where you stand on the viability of renewable energy sources, they will be part of the mix going forward. And with the world fighting to go green, it’s a good long-term bet that renewable energy stocks will be some of the biggest winners. NextEra Energy (NEE) Source: IgorGolovniov/Shutterstock.comNextEra Energy (NYSE:NEE ...

OAKVILLE, ON, Feb. 20, 2024 /PRNewswire/ - Algonquin Power & Utilities Corp. ("AQN" or the "Company") (TSX: AQN) (NYSE: AQN) announced today that it does not intend to exercise its right to redeem all or part of the currently outstanding 4,000,000 Cumulative Rate Reset Preferred Shares, Series D (the "Series D Preferred Shares") on April 1, 2024. As a result, subject to certain conditions, the holders of the Series D Preferred Shares have the right to convert all or part of their Series D Preferred Shares, ...

Core Points - Algonquin Power & Utilities Corp. has appointed David Levenson to its Board of Directors, effective immediately, increasing the Board to nine members, with eight being independent [1][2] - The appointment aligns with the company's strategic transformation into a pure play regulated utility, aimed at simplifying the business and enhancing shareholder value [2] - David Levenson has extensive experience in private equity and infrastructure, having previously served as Managing Partner at Brookfield Asset Management and Chief Investment Officer of its infrastructure business [3] Company Overview - Algonquin Power & Utilities Corp. is a diversified international utility with approximately $18 billion in total assets, providing energy and water solutions to over one million customer connections primarily in the U.S. and Canada [4] - The company operates and has net interests in over 4 GW of installed renewable energy capacity [4] - Algonquin's shares are listed on both the Toronto Stock Exchange and the New York Stock Exchange under various symbols [4]

LITTLE DINOSAUR/Moment via Getty Images Algonquin Power & Utilities Corp. (NYSE:AQN) has lost roughly 17% of its value over the last year with total returns still poor at 12% following a $0.07 per share dividend reduction. The utility company last paid a quarterly cash dividend of $0.1085 per share, left unchanged sequentially and $0.434 per share annualized for a 7.12% dividend yield. I've owned a small position in the equity units of (NYSE:AQNU) for a while now, recommending them over the commons when I l ...

z1b The recent rise of the 10-year Treasury yield above 4% and the concurrent sell-off in utilities (XLU), banks (KRE), and precious metals (GLD)(SLV)(GDX) stem from a blend of hawkish comments from Federal Reserve officials and robust economic data that indicates that inflation may be proving more sticky than previously expected. As a result, many quality dividend stocks in these sectors are now on sale. We are taking advantage of this by purchasing more of these stocks as prices continue to drop. In this ...

Chip Somodevilla Berkshire Hathaway's (BRK.A, BRK.B) Warren Buffett once opined: There's only three ways that a smart person can go broke…liquor, ladies, and leverage. In this article, we will discuss the third of these three paths to failure that can on occasion ensnare even the highest IQs and then share how Buffett's wisdom applies to dividend investing. Why Leverage Destroys Even The Smartest Investors Leverage can be very seductive to even the most intelligent investors due to its promise of amplified ...