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Algonquin Power & Utilities Corp. Announces 2025 Third Quarter Financial Results
Businesswireยท 2025-11-07 11:30
Core Insights - Algonquin Power & Utilities Corp. reported solid third quarter results for 2025, highlighting year-over-year improvements in key financial metrics and progress in regulatory proceedings [2][8]. Financial Performance - Net earnings for the Regulated Services Group increased by 61% year-over-year for Q3 2025, reaching $104.1 million compared to $64.8 million in Q3 2024 [8]. - The overall net earnings for Algonquin Power & Utilities Corp. rose by 49% to $73.7 million in Q3 2025 from $49.5 million in Q3 2024 [8]. - Adjusted net earnings per share increased by 13% to $0.09 in Q3 2025 from $0.08 in Q3 2024 [8]. Operational Highlights - The Regulated Services Group benefited from the implementation of approved rates, favorable weather conditions, and lower operating expenses, contributing to the significant increase in net earnings [8]. - The Corporate Group's net earnings were negatively impacted by the sale of the Company's stake in Atlantica Sustainable Infrastructure, which affected dividend income [8]. Regulatory Developments - The Company made progress in its regulatory proceedings, including an approved settlement at EnergyNorth Gas and a proposed settlement at CalPeco Electric [8]. - A non-unanimous stipulation agreement was reached at Empire Electric, with the Missouri Commission requesting amendments to include customer satisfaction performance metrics [8]. Leadership Changes - The appointment of Robert Stefani as Chief Financial Officer, effective January 5, 2026, was announced, indicating a continued transition towards a premium, pure-play regulated utility [8].