AQN - Algonquin Power & Utilities Q3: Earnings Miss Bad Weather Impact & More | Benzinga
Algonquin Power & Utilities Corp (NYSE: AQN) reported a Q3 2023 revenue decline of 6% Y/Y to $624.7 million, missing the consensus of $648.9 million.
In Q3, the Regulated Services Group recorded a revenue increase of $12.1 million Y/Y, led by the implementation of new rates and recovery of investments at its CalPeco, Empire, Granite State, Bermuda Electric Systems, and the Park Water System.
The Renewable Energy Group business growth was impacted by more challenging weather conditions at the wind and solar assets in Q3.
Adjusted EBITDA rose 2% Y/Y to $281.3 million. Adjusted Net Earnings rose 8% Y/Y to $79.3 million ...