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Algonquin Power & Utilities Corp.

Algonquin Power & Utilities Corp.

NYSE•AQN
CEO: Mr. Christopher G. H. Huskilson
Sector: Utilities
Industry: Renewable Utilities
Listing Date: 2009-12-29
Algonquin Power & Utilities Corp. operates in the power and utility industries in the United States, Canada, and other regions. The company operates in two segments, Regulated Services Group and Renewable Energy Group. The company primarily owns and operates a regulated electric, water distribution and wastewater collection, and natural gas utility systems and transmission operations. As of December 31, 2023, it provided distribution services to approximately 1,256,000 customer connections in the electric (approximately 309,000 customer connections), water and wastewater (approximately 572,000 customer connections), and natural gas sectors (approximately 375,000 customer connections). The company's electrical distribution utility systems and related transmission and generation assets are located in the states of Arkansas, California, Kansas, Missouri, Nevada, New Hampshire, and Oklahoma, and in Bermuda. Its regulated water distribution and wastewater collection utility systems are located in the states of Arizona, Arkansas, California, Illinois, Missouri, New York and Texas, and in Chile. The company's regulated natural gas distribution utility systems located in the province of New Brunswick and the states of Georgia, Illinois, Iowa, Massachusetts, Missouri, New Hampshire and New York. It also owns and operates generating assets with a gross capacity of approximately 2.0 gigawatt (GW) and has investments in generating assets with approximately 0.3 GW of net generation capacity. The company generates and sells electrical energy, capacity, ancillary products, and renewable attributes produced by its renewable and clean power generation facilities. It has economic interests in hydroelectric, wind, solar, renewable natural gas, and thermal facilities. As of December 31, 2023, it had a combined net generating capacity attributable to the Renewable Energy Group of approximately 2.7 GW. The company was incorporated in 1988 and is headquartered in Oakville, Canada.
Contact Information
354 Davis Road, Oakville, ON, L6J 2X1, Canada
905-465-4500
algonquinpower.com
Market Cap
$4.87B
P/E (TTM)
-183.5
79.8
Dividend Yield
4.1%
52W High
$6.62
52W Low
$4.24
52W Range
88%
Rank43Top 50.7%
3.8
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Weak • 3.8 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2016-2025

Financial Dashboard

Q3 2025 Data

Revenue

$582.70M+1.66%
4-Quarter Trend

EPS

$0.03-101.82%
4-Quarter Trend

FCF

$0.00+0.00%
4-Quarter Trend

2024 Annual Earnings Highlights

Key Highlights

Common Shares Outstanding Count 767,343,863 Common Shares outstanding as of December 31, 2024, listed on NYSE under ticker AQN.
Key Filings Incorporated Reference Annual Information Form, Audited Financial Statements, and MD&A filed as Exhibits 99.1, 99.2, and 99.3 respectively.
Internal Control Attestation Confirmed Ernst & Young LLP issued attestation report on internal control effectiveness as of December 31, 2024, included in Exhibit 99.2.

Risk Factors

Governance Standard Divergence Noted Board adopted higher Canadian independence standard over NYSE rules for key committees; governance differences disclosed in filing.
Non-GAAP Measure Recalculation Adjusted EBITDA calculation changed for 2024 to include corporate administrative expenses; comparative figures adjusted accordingly.
Off-Balance Sheet Commitments Exist Obligations exist under equity capital contribution agreements and guarantees supporting continued development and construction projects.

Outlook

No GAAP Transition Delay Registrant elected not to use extended transition period for complying with new or revised U.S. GAAP accounting standards.
SEC Inquiry Undertakings Confirmed AQN undertakes to furnish information promptly and make representatives available to respond to SEC staff inquiries.
Forward Outlook Cautionary Statements Forward-looking information subject to risks; actual results may differ materially from management's current expectations and plans.

Peer Comparison

Revenue (TTM)

Brookfield Renewable CorporationBEPC
$3.78B
-10.5%
Algonquin Power & Utilities Corp.AQN
$2.39B
-7.3%
ReNew Energy Global PlcRNW
$1.43B
+46.4%

Gross Margin (Latest Quarter)

ReNew Energy Global PlcRNW
82.8%
-16.1pp
Algonquin Power & Utilities Corp.AQN
78.3%
-0.6pp
Clearway Energy, Inc.CWEN
70.2%
+31.7pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
CWEN$6.75B14.29.5%57.4%
BEPC$5.69B-8.0-130.8%31.1%
AQN$4.87B-183.5-0.6%0.0%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
-0.1%
Flat Growth
4Q Net Income CAGR
N/M
Profitability Shift
Cash Flow Stability
75%
Volatile Cash Flow

Research & Insights

Next earnings:Mar 6, 2026
|
EPS:$0.05
|
Revenue:-
Reports
All Years
  • Form 40-F - FY 2024

    Period End: Dec 31, 2024|Filed: Mar 7, 2025|
    Revenue: $2.32B-3.5%
    |
    EPS: $-1.81-6133.3%
    Miss
  • Form 40-F - FY 2023

    Period End: Dec 31, 2023|Filed: Mar 8, 2024|
    Revenue: $2.70B-13.1%
    |
    EPS: $0.03+106.1%
    Miss
  • Form 40-F/A - FY 2022

    Period End: Dec 31, 2022|Filed: Mar 21, 2023|
    Revenue: $2.77B+21.6%
    |
    EPS: $-0.49-219.5%
    Miss
  • Form 40-F - FY 2022

    Period End: Dec 31, 2022|Filed: Mar 17, 2023|Refer to amended data
  • Form 40-F - FY 2021

    Period End: Dec 31, 2021|Filed: Mar 4, 2022|
    Revenue: $2.29B+35.6%
    |
    EPS: $0.30-70.3%
    Miss
  • Form 40-F - FY 2020

    Period End: Dec 31, 2020|Filed: Mar 5, 2021|
    Revenue: $1.68B+3.1%
    |
    EPS: $1.38+30.2%
    Meet