Algonquin Power & Utilities (AQN) Q4 Earnings Beat Estimates

Algonquin Power & Utilities Corp. (TO:AQN) reported fourth-quarter 2018 operating earnings of 14 cents per share, beating the Zacks Consensus Estimate by a penny. However, the reported earnings declined 13% on a year-over-year basis.

Total Revenues

Algonquin Power & Utilities generated total revenues of $419.9 million in fourth-quarter 2018, beating the Zacks Consensus Estimate of $414 million by 1.4%. The top line also increased 3% from $409.5 million in the year-ago quarter.

The company recorded significant progress and growth across businesses, both domestically and internationally, which boosted total revenues.

Highlights of the Release

Algonquin Power & Utilities’ adjusted EBITDA in the fourth quarter was $196.9 million, up 6% year over year.

Fourth-quarter dividend of the company was 12.82 cents, reflecting a year-over-year increase of 10%.

The company remains focused on capital investment of $7.5 billion in the next five years, which will help it to maintain its strong performance.

Zacks Rank

Algonquin Power & Utilities currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Utility Releases

American Electric Power Co., Inc. (NYSE:AEP) reported fourth-quarter 2018 operating earnings per share (EPS) of 72 cents, in line with the Zacks Consensus Estimate.

NextEra Energy, Inc. (NYSE:NEE) reported fourth-quarter 2018 adjusted earnings of $1.49 per share, which lagged the Zacks Consensus Estimate of $1.51 by 1.3%.

Duke Energy Corporation (NYSE:DUK) reported fourth-quarter 2018 adjusted earnings of 84 cents per share, which missed the Zacks Consensus Estimate of 89 cents by 5.6%.

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