AQN - Algonquin Power to launch strategic review of renewable energy

2023-05-11 07:48:24 ET

Algonquin Power & Utilities ( NYSE: AQN ) said Thursday it has initiated a strategic review of its renewable energy business, including assessing a range of alternatives to maximize shareholder value.

The company said it expects to announce go-forward plans based on the results of the strategic review by its Q2 earnings call.

Algonquin ( AQN ) has attracted activist interest from Corvex Management and others after it terminated a planned purchase of Kentucky utilities from American Electric Power.

The company also reported Q1 adjusted earnings of $0.17/share on revenues of $778M.

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