Quarterly ResultMay 8, 2026, 06:46 AM
Algonquin Power Q1 EPS $0.11, Net Earnings $83.6M; Revenue $792.4M
AI Summary
Algonquin Power & Utilities Corp. reported mixed financial results for Q1 2026. Net earnings attributable to common shareholders decreased to $83.6 million, with basic and diluted EPS falling to $0.11. However, the company saw a significant increase in revenue to $792.4 million and a slight rise in operating income. Several key regulatory rate adjustments were approved for its utility subsidiaries, including CalPeco Electric, New England Natural Gas, and Suralis, which are expected to positively impact future revenues.
Key Highlights
- Net earnings attributable to common shareholders decreased to $83.6 million from $94.2 million YoY.
- Basic and diluted net earnings per share were $0.11, down from $0.12 YoY.
- Revenue increased to $792.4 million for Q1 2026, up from $692.4 million YoY.
- Operating income slightly increased to $180.8 million from $178.9 million YoY.
- Cash provided by operating activities decreased to $42.7 million from $73.9 million YoY.
- CalPeco Electric received approval for $48.6 million in annualized base revenues, retroactive to Jan 1, 2025.
- New England Natural Gas secured a $45.3 million adjustment in distribution revenues.
- Suralis reached an agreement for a 5.0% tariff increase, translating to $4.0 million annual revenue impact.