Algonquin Power reports Q3 adjusted EPS 11c, consensus 12c

Reports Q3 revenue $624.7M, consensus $670.67M. “We have launched the sale process for our portfolio of high-quality renewable assets and extensive development pipeline, and we remain focused on appropriate valuation,” said Chris Huskilson, Interim CEO of AQN. “Having now served as Interim CEO for three months and met with various stakeholders, I believe the Company’s two businesses have untapped potential and bright futures ahead. With regards to the quarter, we continued to see constructive growth from rate cases and new development projects year over year. However, we also saw those efforts partially offset by unfavourable weather and higher interest rates. On balance, our Adjusted Net Earnings1 grew at a healthy pace for the quarter.”