Algonquin Power & Utilities (AQN) - 2023 Q4 - Annual Report

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]