Algonquin Power & Utilities Corp. Announces 2024 Third Quarter Financial Results

$AQN
Electric Utilities: Central
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Making progress in strategic transition to regulated utility

OAKVILLE, 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 AQN. "These successes include the announced sales of our renewables business and Atlantica ownership stake, completion of the rollout of our new IT platform, appointment of new corporate leadership, the simplification of our capital structure, and recent rate case filings to improve our earned returns. In all, we are proud of the progress we have made, though this is a multi-year journey and there is still much work to be done.  We are committed to serving our customers and producing an appropriate return on our investments and we are confident we are on the right path to do so."

Third Quarter 2024 Financial Results for Continuing Operations1

  • Net Utility Sales2 of $442.9 million, an increase of 6%;
  • Adjusted EBITDA2 of $264.4 million, an increase of 4%;
  • Adjusted Net Earnings2 of $64.9 million, a decrease of 5%; and
  • Adjusted Net Earnings2 per common share of $0.08, a decrease of 20%, in each case on a year-over-year basis.

All amounts in U.S. $ millions except per share information

Three months ended

September 30

Nine months ended

September 30

2024

2023

Change

2024

2023

Change

Revenue3

$  573.2

$ 564.8

1 %

$1,734.7

$1,818.3

(5) %

    Regulated Services Group Revenue

563.9

555.9

1 %

1,705.8

1,790.5

(5) %

    Hydro Group Revenue

8.9

8.5

4 %

28.0

26.7

5 %

    Corporate Group Revenue

0.4

0.4

1.0

1.1

(9) %

Net earnings (loss) attributable to shareholders from continuing operations

49.5

(174.9)

128 %

172.9

(184.3)

194 %

Per common share from continuing operations

0.06

(0.26)

123 %

0.23

(0.28)

182 %

Net earnings (loss) attributable to shareholders including discontinued operations

(1,305.7)

(174.5)

(648) %

(1,194.1)

(157.6)

(657) %

Per common share including discontinued operations

(1.71)

(0.26)

(556) %

(1.67)

(0.24)

(596) %

Cash provided by operating activities

66.7

132.6

(50) %

433.6

427.3

1 %

Adjusted Net Earnings2

64.9

68.6

(5) %

186.8

198.2

(6) %

Per common share

0.08

0.10

(20) %

0.25

0.28

(11) %

Adjusted EBITDA2

264.4

254.9

4 %

790.5

751.4

5 %

Adjusted EBITDA2 for Regulated Services Group

236.2

228.7

3 %

706.0

674.0

5 %

Adjusted EBITDA2 for Hydro Group

7.1

6.5

9 %

21.0

19.5

8 %

Adjusted EBITDA2 for Corporate Group

21.1

19.7

7 %

63.5

57.9

10 %

Adjusted Funds from Operations2

143.3

146.8

(2) %

434.1

433.5

Dividends per common share

0.0650

0.1085

(40) %

0.2820

0.3255

(13) %

Long-term Debt

7,475.7

7,500.2

7,475.7

7,500.2

AQN's operations are now organized across three business units consisting of: the Regulated Services Group, which primarily owns and operates a portfolio of regulated electric, water distribution and wastewater collection and natural gas utility systems and transmission operations in the United States, Canada, Bermuda and Chile; the Hydro Group, consisting of the hydroelectric business which is not being sold as a part of the renewables business; and the Corporate Group, which includes corporate and service companies as well as the Company's investment in Atlantica.

Please refer to "Non-GAAP Measures" below for further details.

Discontinued Operations Revenue for the three months and nine months ended September 30, 2024 totaled $66.3 million and $240.5 million, respectively, versus $60.0 million and $213.0 million for the three months and nine months ended September 30, 2023.

Third Quarter 2024 Operational Results and Corporate Actions

  • Regulated Services Group saw growth from implementation of new rates, offset by higher depreciation, higher financing costs and greater share count - The Regulated Services Group recorded third quarter year-over-year growth in Adjusted EBITDA of 3% (see "Non-GAAP Measures" below), due to the implementation of new rates, most notably at the Bermuda, CalPeco, Empire Arkansas Electric utilities, and New York Water utility.  New rates were more than offset by higher operating expenses, and depreciation.  Additionally, the June, 17 2024 settlement of share purchase contracts related to AQN's green equity units drove a higher year-over-year share count.
  • New York Water settlement approval constructively concludes first rate case since acquisition – On August 15, 2024, the New York Public Service Commission issued an order authorizing a $38.6 million increase in revenues over a three-year rate plan for the Company's New York Water utility, and including a 9.1% allowed return on equity and 48% equity ratio. New rates became effective September 1, 2024, and are being collected retroactive to April 1, 2024.
  • Upcoming rate cases mark meaningful steps toward closing earned return gap – On September 20, 2024, the Company filed a rate case for its CalPeco Electric utility, seeking an increase in revenues of $39.8 million based on a return on equity of 11.0%, an equity ratio of 52.5%, and additions to rate base of approximately $150 million through the end of 2025.  Additionally, on November 6, 2024, the Company filed a rate case for its Empire Electric utility in Missouri, requesting $92.1 million in revenue increases and predicated on a 10.0% allowed return on equity.  The rate case, if approved, would increase rate base by approximately $534 million. Separately, the Company also expects to file a rate case for its Litchfield Park Water utility in Arizona in the first half of 2025.  The three rate cases combined, if resolved in accordance with the Company's expectations, would comprise over $700 million of the capital already invested by the Company but not yet reflected in rates. Reducing regulatory lag continues to be a core objective of AQN.
  • Announced sale agreement of Renewable Energy Business – On August 9, 2024, the Company entered into an agreement to sell its renewable energy business, excluding hydro, to a wholly-owned subsidiary of LS Power for total cash consideration of up to $2.5 billion (subject to certain closing adjustments). The Company has reclassified its renewable energy business, excluding hydro, as "discontinued operations". 

AQN's unaudited interim consolidated financial statements for the three and nine months ended September 30, 2024 and management discussion and analysis for the three and nine months ended September 30, 2024 (the "Interim MD&A") will be available on its website at www.AlgonquinPower.com and in its corporate filings on SEDAR+ at www.sedarplus.com (for Canadian filings) and EDGAR at www.sec.gov/edgar (for U.S. filings). 

Earnings Conference Call

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.

Date:

Thursday, November 7, 2024

Time:

10:00 a.m. ET

Conference Call:

Toll Free Dial-In Number

1 (800) 715-9871



Toll Dial-In Number

1 (647) 932-3411



Conference ID

7888098

Webcast:

https://edge.media-server.com/mmc/p/eoi9utr9



Presentation also available at:  www.algonquinpower.com

About Algonquin Power & Utilities Corp. and Liberty

Algonquin Power & Utilities Corp., parent company of Liberty, is a diversified international generation, transmission, and distribution utility with approximately $18 billion of total assets. AQN is committed to providing safe, secure, reliable, cost-effective, and sustainable energy and water solutions through its portfolio of generation, transmission, and distribution utility investments to over one million customer connections, largely in the United States and Canada. In addition, AQN owns, operates, and/or has net interests in over 4 GW of installed renewable energy capacity. AQN's common shares, preferred shares, Series A, and preferred shares, Series D are listed on the Toronto Stock Exchange under the symbols AQN, AQN.PR.A, and AQN.PR.D, respectively. AQN's common shares and Series 2019-A subordinated notes are listed on the New York Stock Exchange under the symbols AQN and AQNB, respectively.

Visit AQN at www.algonquinpower.com and follow us on X.com @AQN_Utilities.

Caution Regarding Forward-Looking Information

Certain statements included in this news release constitute ''forward-looking information'' within the meaning of applicable securities laws in each of the provinces and territories of Canada and the respective policies, regulations and rules under such laws and ''forward-looking statements'' within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 (collectively, ''forward-looking statements"). The words "will", "intends", "would", "objective" and "expects" (and grammatical variations of such terms) and similar expressions are often intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Specific forward-looking statements in this news release include, but are not limited to, statements regarding: the expected sale of Company's renewable energy business; expectations regarding rate cases, including the expected outcomes thereof; and the Company's objective of reducing regulatory lag. These statements are based on factors or assumptions that were applied in drawing a conclusion or making a forecast or projection, including assumptions based on historical trends, current conditions and expected future developments. Since forward-looking statements relate to future events and conditions, by their very nature they require making assumptions and involve inherent risks and uncertainties. AQN cautions that although it is believed that the assumptions are reasonable in the circumstances, these risks and uncertainties give rise to the possibility that actual results may differ materially from the expectations set out in the forward-looking statements. There can be no assurance that a sale regarding the Company's renewable energy business will occur, or that any of the intended benefits and aims of any such transaction will be realized. Forward-looking statements contained herein are provided for the purposes of assisting in understanding the Company and its business, operations, risks, financial performance, financial position and cash flows as at and for the periods indicated and to present information about management's current expectations and plans relating to the future and such information may not be appropriate for other purposes. Material risk factors and assumptions include those set out in AQN's Annual Information Form and Annual Management Discussion and Analysis for the year ended December 31, 2023, and Interim MD&A, each of which is or will be available on SEDAR+ and EDGAR.  Given these risks, undue reliance should not be placed on these forward-looking statements, which apply only as of their dates. Other than as specifically required by law, AQN undertakes no obligation to update any forward-looking statements to reflect new information, subsequent or otherwise.

Explanatory Note

The term "rate base" is used in this document. Rate base is a measure specific to rate-regulated utilities that is not intended to represent any financial measure as defined by U.S. GAAP. The measure is used by the regulatory authorities in the jurisdictions where the Company's rate-regulated subsidiaries operate. The calculation of this measure may not be comparable to similarly-titled measures used by other companies.

Non-GAAP Measures

AQN uses a number of financial measures to assess the performance of its business lines. Some measures are calculated in accordance with generally accepted accounting principles in the United States ("U.S. GAAP"), while other measures do not have a standardized meaning under U.S. GAAP. These non-GAAP measures include non-GAAP financial measures and non-GAAP ratios, each as defined in Canadian National Instrument 52-112 – Non-GAAP and Other Financial Measures Disclosure. AQN's method of calculating these measures may differ from methods used by other companies and therefore may not be comparable to similar measures presented by other companies.

The terms "Adjusted Net Earnings", "Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization" (or "Adjusted EBITDA"), "Adjusted Funds from Operations", and "Net Utility Sales", which are used in this news release, are non-GAAP financial measures. An explanation of each of these non-GAAP financial measures can be found in the section titled "Caution Concerning Non-GAAP Measures" in the Interim MD&A, which section is incorporated by reference into this news release, and a reconciliation to the most directly comparable U.S. GAAP measure, in each case, can be found below. In addition, "Adjusted Net Earnings" is presented in this news release on a per common share basis. Adjusted Net Earnings per common share is a non-GAAP ratio and is calculated by dividing Adjusted Net Earnings by the weighted average number of common shares outstanding during the applicable period.

Reconciliation of AQN Adjusted EBITDA to Net Earnings

The following table is derived from and should be read in conjunction with the consolidated statement of operations. This supplementary disclosure is intended to more fully explain disclosures related to AQN Adjusted EBITDA and provides additional information related to the operating performance of AQN. Investors are cautioned that this measure should not be construed as an alternative to U.S. GAAP consolidated net earnings.



Three months ended



Nine months ended



September 30



September 30

(all dollar amounts in $ millions)

2024



2023



2024



2023

Net earnings (loss) attributable to shareholders

$(1,305.7)



$(174.5)



$(1,194.1)



$(157.6)

Add (deduct):















Net earnings attributable to the non-controlling interest, exclusive of HLBV

0.8



7.0



4.2



26.1

Loss from discontinued operations, net of tax

1,335.2



(0.4)



1,367.0



(26.6)

Income tax expense (recovery)

6.4



(40.8)



33.3



(50.0)

Interest expense

91.4



81.6



274.1



232.7

Other net losses1

9.5



74.2



19.9



111.4

Pension and post-employment non-service costs

3.0



4.9



10.4



15.2

Change in value of investments carried at fair value2

(1.6)



212.4



(23.7)



332.8

Gain on derivative financial instruments

(0.3)



(0.7)



(0.5)



(3.9)

Loss on foreign exchange

6.3



2.9



3.8



8.3

Depreciation and amortization

99.4



88.3



296.1



263.0

Adjusted EBITDA

$    264.4



$ 254.9



$    790.5



$ 751.4

1

See Note 15 in the unaudited interim condensed consolidated financial statements.

2

See Note 6 in the unaudited interim condensed consolidated financial statements.

Reconciliation of Adjusted Net Earnings to Net Earnings

The following table is derived from and should be read in conjunction with the consolidated statement of operations. This supplementary disclosure is intended to more fully explain disclosures related to Adjusted Net Earnings and provides additional information related to the operating performance of AQN. Investors are cautioned that this measure should not be construed as an alternative to consolidated net earnings in accordance with U.S. GAAP.

The following table shows the reconciliation of net earnings to Adjusted Net Earnings exclusive of these items:



Three months ended



Nine months ended



September 30



September 30

(all dollar amounts in $ millions except per share information)

2024



2023



2024



2023

Net earnings (loss) attributable to shareholders

$(1,305.7)



$  (174.5)



$(1,194.1)



$   (157.6)

Add (deduct):















Loss (Earnings) from discontinued operations

1,355.2



(0.4)



1,367.0



(26.6)

Gain on derivative financial instruments

(0.3)



(0.7)



(0.5)



(3.9)

Other net losses1

9.5



74.2



19.9



111.4

Loss on foreign exchange

6.3



2.9



3.8



8.3

Change in value of investments carried at fair value2

(1.6)



212.4



(23.7)



332.8

Adjustment for taxes related to above

1.5



(45.3)



14.4



(66.2)

Adjusted Net Earnings

$      64.9



$     68.6



$   186.8



$     198.2

Adjusted Net Earnings per common share

$      0.08



$       0.10



$     0.25



$       0.28

1

See Note 15 in the unaudited interim condensed consolidated financial statements.

2

See Note 6 in the unaudited interim condensed consolidated financial statements.

Reconciliation of Adjusted Funds from Operations to Cash Provided by Operating Activities

The following table is derived from and should be read in conjunction with the consolidated statement of operations and consolidated statement of cash flows. This supplementary disclosure is intended to more fully explain disclosures related to Adjusted Funds from Operations and provides additional information related to the operating performance of AQN.  Investors are cautioned that this measure should not be construed as an alternative to cash provided by operating activities in accordance with U.S GAAP.

The following table shows the reconciliation of cash provided by operating activities to Adjusted Funds from Operations exclusive of these items:



Three months ended



Nine months ended



September 30



September 30

(all dollar amounts in $ millions)

2024



2023



2024



2023

Cash provided by operating activities

$     66.7



$  132.6



$  433.6



$  427.3

Add (deduct):















Cash provided (used in) operating activities of discontinued

operations

(2.7)



(42.6)



(79.5)



(78.7)

Changes in non-cash operating items for continuing and

discontinued operations

70.6



34.8



54.6



88.1

Changes in non-cash operating items from discontinued

operations

8.7



22.0



23.4



(3.2)

Production based cash contribution from non-controlling

interest for continuing operations





2.0



Adjusted Funds from Operations

$   143.3



$   146.8



$ 434.1



$  433.5

Reconciliation of Regulated Services Group Adjusted EBITDA to Operating Income

The following table is derived from and should be read in conjunction with the consolidated statement of operations.  This supplementary disclosure is intended to more fully explain disclosures related to Regulated Services Group Adjusted EBITDA and provides additional information related to the operating performance of AQN.  Investors are cautioned that this measure should not be construed as an alternative to U.S. GAAP consolidated net earnings.



Three months ended



Nine months ended



September 30



September 30

(all dollar amounts in $ millions)

2024



2023



2024



2023

Revenue















Regulated electricity distribution

$        361.4



$        354.3



$        971.5



$        998.5

Less: Regulated electricity purchased

(100.9)



(110.1)



(280.6)



(334.0)

Net Utility Sales – electricity1

260.5



244.2



690.9



664.5

Regulated gas distribution

65.7



73.0



393.9



453.7

Less: Regulated gas purchased

(13.2)



(21.6)



(132.1)



(195.5)

Net Utility Sales – natural gas

52.5



51.4



261.8



258.2

Regulated water reclamation and distribution

124.3



115.3



302.1



298.6

Less: Regulated water purchased

(6.8)



(5.9)



(15.0)



(13.6)

Net Utility Sales – water reclamation and distribution1

117.5



109.4



287.1



285.0

Other revenue2

12.4



13.2



38.3



39.8

Net Utility Sales1,3

442.9



418.2



1,278.1



1,247.5

Operating expenses

(231.3)



(209.6)



(654.6)



(635.3)

Income from long-term investments

7.7



13.7



23.1



33.3

HLBV4

16.9



6.4



59.4



28.5

Adjusted EBITDA 1,5

$        236.2



$        228.7



$        706.0



$        674.0

1

See Caution Concerning Non-GAAP Measures.

2

See Note 17 in the unaudited interim condensed consolidated financial statements.

3

This table contains a reconciliation of Net Utility Sales to revenue. The relevant sections of the table are derived from and should be read in conjunction with the unaudited interim condensed consolidated statement of operations and Note 17 in the unaudited interim condensed consolidated financial statements, "Segmented Information". This supplementary disclosure is intended to more fully explain disclosures related to Net Utility Sales and provides additional information related to the operating performance of the Regulated Services Group. Investors are cautioned that Net Utility Sales should not be construed as an alternative to revenue.

4

Hypothetical Liquidation at Book Value ("HLBV") income represents the value of net tax attributes monetized by the Regulated Services Group in the period at the Luning and Turquoise Solar Facilities and the Neosho Ridge, Kings Point and North Fork Ridge Wind Facilities.

5

This table contains a reconciliation of Adjusted EBITDA to revenue for the Regulated Services Group. The relevant sections of the table are derived from and should be read in conjunction with the unaudited interim condensed consolidated statement of operations and Note 17 in the unaudited interim condensed consolidated financial statements, "Segmented Information". This supplementary disclosure is intended to more fully explain disclosures related to Adjusted EBITDA and provides additional information related to the operating performance of the Regulated Services Group. Investors are cautioned that Adjusted EBITDA should not be construed as an alternative to revenue.

Reconciliation of Corporate Group Adjusted EBITDA to Operating Income

The following table is derived from and should be read in conjunction with the consolidated statement of operations.  This supplementary disclosure is intended to more fully explain disclosures related to Corporate Group Adjusted EBITDA and provides additional information related to the operating performance of AQN.  Investors are cautioned that this measure should not be construed as an alternative to U.S. GAAP consolidated net earnings.



Three months ended



Nine months ended



September 30



September 30

(all dollar amounts in $ millions)

2024



2023



2024



2023

Revenue

0.4



0.4



1.0



1.1

Add: Interest, dividend, equity, and other income3

23.0



18.3



67.8



57.1

Less: Operating expenses

2.3



(1.0)



5.3



0.3

Corporate Group Adjusted EBITDA1

21.1



19.7



63.5



57.9

1

See Caution Concerning Non-GAAP Measures.

2

This table contains a reconciliation of Adjusted EBITDA to revenue for the Corporate Group. The relevant sections of the table are derived from and should be read in conjunction with the unaudited interim condensed consolidated statement of operations and Note 17 in the unaudited interim condensed consolidated financial statements, "Segmented Information". This supplementary disclosure is intended to more fully explain disclosures related to Adjusted EBITDA and provides additional information related to the operating performance of the Corporate Group. Investors are cautioned that Adjusted EBITDA should not be construed as an alternative to revenue.

3

Primarily includes dividends from Atlantica of $21.8 million and $22.0 million for the three months ended September 30, 2024 and 2023 respectively. The nine months ended September 30, 2024 and 2023 includes dividends from Atlantica of $65.4 million and $65.6 million respectively.

Reconciliation of Hydro Group Adjusted EBITDA to Operating Income

The following table is derived from and should be read in conjunction with the consolidated statement of operations.  This supplementary disclosure is intended to more fully explain disclosures related to Hydro Group Adjusted EBITDA and provides additional information related to the operating performance of AQN.  Investors are cautioned that this measure should not be construed as an alternative to U.S. GAAP consolidated net earnings.



Three months ended



Nine months ended



September 30



September 30

(all dollar amounts in $ millions)

2024



2023



2024



2023

Revenue

$            8.9



$            8.3



$         27.2



$         25.7

Less: Cost of Sales - Hydro



0.1



0.2



0.4

Add: Other income



0.2



0.8



1.0

Less: Operating expenses

1.8



1.9



6.8



6.8

Hydro Group Adjusted EBITDA1

$            7.1



$            6.5



$         21.0



$         19.5

1

See Caution Concerning Non-GAAP Measures.

2

This table contains a reconciliation of Adjusted EBITDA to revenue for the Hydro Group. The relevant sections of the table are derived from and should be read in conjunction with the unaudited interim condensed consolidated statement of operations and Note 17 in the unaudited interim condensed consolidated financial statements, "Segmented Information". This supplementary disclosure is intended to more fully explain disclosures related to Adjusted EBITDA and provides additional information related to the operating performance of the Hydro Group. Investors are cautioned that Adjusted EBITDA should not be construed as an alternative to revenue.

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/algonquin-power--utilities-corp-announces-2024-third-quarter-financial-results-302298316.html

SOURCE Algonquin Power & Utilities Corp.

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  • Algonquin Power & Utilities Corp. Announces Extension of Cooperation Agreement with Starboard and Additions to the Board of Directors

    Appoints New CEO Rod West and Starboard Senior Partner Gavin Molinelli to the Board Extends Cooperation Agreement With Starboard Algonquin Power & Utilities Corp. (TSX/NYSE:AQN) ("AQN", "Algonquin" or the "Company") announced today that its Board of Directors (the "Board") has appointed CEO Rod West to the Board. The Board also intends to appoint Gavin Molinelli, Senior Partner and Portfolio Manager at Starboard Value LP (together with certain of its affiliates, "Starboard") to the Board, subject to approval by the Federal Energy Regulatory Commission. Mr. Molinelli's appointment will become effective immediately following the receipt of such approval. Following the appointments of Mr. We

    $AQN
    Electric Utilities: Central
    Utilities
  • Algonquin Power & Utilities Corp. Announces Leadership Transition

    Rod West appointed Chief Executive Officer, succeeding Chris Huskilson Algonquin Power & Utilities Corp. (TSX/NYSE:AQN) ("AQN", "Algonquin" or the "Company") announced today that Rod West will join AQN as Chief Executive Officer, effective March 7, 2025. Chris Huskilson will step down as CEO and will continue in his role as a member of the Board. Mr. West most recently served as Group President, Utility Operations for Entergy, where he was responsible for the operational and financial performance of Entergy's five operating companies. During his 25 years at Entergy, Mr. West oversaw electric and natural gas distribution, customer service operations, the utility's engagement with federal

    $AQN
    Electric Utilities: Central
    Utilities
  • Canadian Tire Corporation announces CFO transition

    Gregory Craig to retire after a 31-year career at CTC Darren Myers to join effective April 1st TORONTO, Jan. 20, 2025 /CNW/ - Canadian Tire Corporation ("the Company"; "CTC") (TSX:CTC) (TSX:CTC) today announced that Darren Myers will join the Company as Executive Vice President and Chief Financial Officer (EVP and CFO), effective April 1st, on the retirement of Gregory Craig. The Company's CFO search followed Mr. Craig's decision to retire after a 31-year career at CTC in which he made notable contributions, both through his career at Canadian Tire Financial Services and in h

    $AQN
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    Electric Utilities: Central
    Utilities
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$AQN
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  • Algonquin Power & Utilities Corp. Declares First Quarter 2025 Common Share Dividend of U.S.$0.0650 (C$0.0934), and Declares First Quarter 2025 Preferred Share Dividends

    Algonquin Power & Utilities Corp. ("AQN") (TSX:AQN, AQN.PR.A, AQN.PR.D, NYSE:AQN) announced today that its board of directors has approved and declared the following common and preferred share dividends: US$0.0650 per common share, payable on April 15, 2025, to the shareholders of record on March 31, 2025, for the period from January 1, 2025 to March 31, 2025. Registered shareholders can elect to receive the dividend in Canadian dollars in the amount of C$0.0934. C$0.41100 per preferred share, Series A, payable in cash on March 31, 2025 to preferred share, Series A holders of record on March 14, 2025, for the period from December 31, 2024 to, but excluding, March 31, 2025. C$0.42831 p

    $AQN
    Electric Utilities: Central
    Utilities
  • Algonquin Power & Utilities Corp. Announces Date for Fourth Quarter and Full Year 2024 Financial Results and Conference Call

    Algonquin Power & Utilities Corp. (TSX/NYSE:AQN) ("AQN") today announced plans to release its fourth quarter and full year 2024 financial results on Friday, March 7, 2025, before market open. AQN will hold an earnings conference call at 8:30 a.m. eastern time on Friday, March 7, 2025, hosted by Chief Executive Officer, Chris Huskilson, and Chief Financial Officer, Darren Myers. Conference call details are as follows: Date: Friday, March 7, 2025 Time: 8:30 a.m. ET Conference Call: Toll Free Dial-In Number 1 (800) 715-9871   Toll Dial-In Number 1 (647) 932-3411   Conference ID 4528692 Webcast:

    $AQN
    Electric Utilities: Central
    Utilities
  • Algonquin Power & Utilities Corp. Announces 2024 Third Quarter Financial Results

    Making progress in strategic transition to regulated utility OAKVILLE, 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 AQN. "These successes include the announced sales of our renewables busin

    $AQN
    Electric Utilities: Central
    Utilities

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Large Ownership Changes

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