Algonquin Power Stock Price, News & Analysis

Algonquin Power & Utilities Corp. (AQN) appointed Darren Myers as Chief Financial Officer, succeeding Arthur Kacprzak, who steps down immediately but will assist in the transition until year-end. Myers brings extensive experience, having served as CFO at Loblaw and Celestica. CEO Arun Banskota expressed confidence in Myers’ ability to deliver strong financial results, while Chairman Ken Moore emphasized the importance of this leadership change for shareholder returns. AQN remains focused on growth in renewable energy and maintaining a solid balance sheet.

Algonquin Power & Utilities Corp. (AQN) has successfully acquired Sandhill Advanced Biofuels, a developer of renewable natural gas (RNG) projects in Wisconsin. This acquisition marks AQN's entry into the non-regulated RNG market, with four projects that will generate approximately 500 MMBTU/day of RNG. The projects aim to sequester methane from dairy operations, supporting carbon reduction goals. Additionally, AQN joined a hydrogen consortium in New York as part of its clean energy initiatives. This strategic move aligns with AQN's commitment to sustainability and net-zero emissions by 2050.

Algonquin Power & Utilities Corp. (AQN) announced the re-establishment of its at-the-market equity program, allowing the issuance of up to $500 million in common shares. This program provides AQN with enhanced financial flexibility, effective until December 19, 2023. The proceeds will be utilized for acquisitions, working capital, and other corporate purposes. Sales will occur at prevailing market prices through designated agents. The ATM Program follows the lapse of its previous program and supports AQN’s continued growth and operational excellence in the renewable energy sector.

Algonquin Power & Utilities Corp. (AQN) reported strong Q2 2022 results with revenue of $624.3 million, an 18% increase year-over-year. Adjusted EBITDA rose to $289.3 million, also reflecting an 18% growth. Adjusted net earnings increased by 19.6% to $109.7 million, translating to $0.16 per share, a 7% rise compared to Q2 2021. Despite the positive financial results, the company recorded a net loss attributable to shareholders of $33.4 million, representing a 132% decline from last year. Significant updates included the ongoing Kentucky Power acquisition and successful projects in renewable energy.

Algonquin Power & Utilities Corp. (AQN) has declared a US$0.1808 common share dividend, payable on October 14, 2022, to shareholders of record on September 29, 2022, covering the period from July 1 to September 30, 2022. Shareholders may opt for Canadian dollar dividends at C$0.2312. Additionally, preferred share dividends of C$0.32263 for Series A and C$0.31819 for Series D will be payable on October 3, 2022. These dividends qualify as eligible dividends under Canadian tax law.

Algonquin Power & Utilities Corp. (AQN) has announced the release of its second quarter 2022 financial results scheduled for August 11, 2022, after market close. A subsequent earnings conference call is set for 10:00 a.m. ET on August 12, 2022, led by President Arun Banskota and CFO Arthur Kacprzak. AQN operates with over $17 billion in total assets, providing sustainable energy and water solutions through its diversified utility investments. The company is focused on growth and operational excellence in renewable energy and regulated services.

Algonquin Power & Utilities Corp. (AQN) announced a common share dividend of US$0.1808, payable on July 15, 2022, to shareholders of record on June 30, 2022. For preferred shares, Series A and D, dividends of C$0.32263 and C$0.31819 will be paid on June 30, 2022, respectively. Shareholders can opt for cash or reinvest dividends into additional common shares. The declared dividends qualify as eligible under Canadian tax law, supporting AQN's commitment to providing sustainable energy solutions.

Algonquin Power & Utilities Corp. (AQN) reported strong Q1 2022 financial results, showcasing a 16% revenue increase to $735.7 million and a 17% rise in adjusted EBITDA to $330.6 million. The company also achieved a remarkable 555% increase in net earnings attributable to shareholders, totaling $91.0 million. AQN's board approved a 6% dividend increase, reflecting confidence in its $12.4 billion capital growth plan. The Kentucky Power acquisition is progressing, and recent successful bond offerings bolster financial stability.

On May 10, 2022, Liberty, part of Algonquin Power & Utilities Corp. (NYSE: AQN), announced a collaboration with Meta (NASDAQ: META) for the Deerfield II wind project in Michigan. This long-term power purchase agreement ensures Meta receives 100% renewable energy from the 112 MW project, furthering both companies' sustainability goals. The project, involving a $200 million investment, is expected to generate $2 million annually in property tax revenue and create 200 jobs. Commercial operations are anticipated to begin in 2023, building on existing renewable energy partnerships.