Algonquin Power & Utilities: Q1 Earnings Snapshot
May 6, 2021
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OAKVILLE, Ontario (AP) _ Algonquin Power & Utilities Corp. (AQN) on Thursday reported first-quarter net income of $13.9 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Oakville, Ontario-based company said it had profit of 2 cents. Earnings, adjusted for non-recurring costs, came to 20 cents per share.
The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 21 cents per share.
The utility operator posted revenue of $634.5 million in the period.
Algonquin Power & Utilities shares have declined slightly more than 4% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $15.75, a climb of 16% in the last 12 months.