Algonquin Power & Utilities Slashes FY22 Outlook As Q3 Adj. EPS Misses Estimates
(RTTNews) - Algonquin Power & Utilities Corp. (AQN, AQN.TO) reported Friday a net loss attributable to shareholders for the third quarter of $195.2 million or $0.29 per share, sharply wider than $27.9 million or $0.05 per share in the prior-year quarter.
Excluding items, adjusted net earnings for the quarter was $0.11 per share, compared to $0.15 per share in the year-ago quarter.
Revenues for the quarter increased 26 percent to $666.7 million from $528.6 million in the same quarter last year.
On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.17 per share on revenues of $594.76 million for the quarter. Analysts' estimates typically exclude special items.
Looking ahead to fiscal 2022, the company now projects adjusted net earnings in a range of $0.66 to $0.69 per share, down from the prior guidance range of $0.72 to $0.77 per share. The Street is looking for earnings of $0.74 per share for the year.
Given the challenging macroeconomic environment, which is expected to continue into 2023, the Company said it is evaluating its longer-term targets and financial expectations.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com
AWS Recovering After Major Outage Hits Companies, Services Worldwide
Bay Street Likely To Open On Positive Note
European Stocks Broadly Higher; Defense Stocks Move Up
FTSE 100 Modestly Higher; Defence Stocks Shine
Sensex, Nifty Close Higher For 4th Straight Session
Asian Markets Close Higher
CAC 40 Turns Weak After Positive Start; BNP Paribas Plunges 10%
