S&P 500 5,235.18 +1.02%EUR/USD 1.0840 +0.21%GBP/USD 1.2710 +0.14%USD/JPY 149.50 −0.18%BRENT $82.40 −0.81%BTC $67,800 −0.21%GOLD $2,341 +0.55%NASDAQ 16,420.55 +0.74%S&P 500 5,235.18 +1.02%EUR/USD 1.0840 +0.21%GBP/USD 1.2710 +0.14%USD/JPY 149.50 −0.18%BRENT $82.40 −0.81%BTC $67,800 −0.21%GOLD $2,341 +0.55%NASDAQ 16,420.55 +0.74%
A daily business newspaper · Founded in 2026

Money Talk

Finance and markets: business, quotes, gold, energy and releases.

Algonquin Power’s Third-Quarter Profit Falls to $57.6 Million

Algonquin Power & Utilities’ third-quarter net income fell to $57.6 million from $71 million a year earlier, as wildfire-related costs and other one-off charges weighed on results. Adjusted earnings of 11 cents a share topped analysts’ 10-cent expectation, according to FactSet.

Algonquin Power’s Third-Quarter Profit Falls to $57.6 Million

The company reported earnings of 7 cents a share, down from 9 cents in the comparable quarter last year. It recorded $35.4 million in one-off charges, including $16.6 million in nonrecoverable costs and accruals related to the Mountain View Fire, as well as an $8.3 million loss on assets held for sale.

Earnings at the regulated services group declined to $72.6 million from $103.6 million. The hydro group posted earnings of $2.1 million, compared with $3.3 million a year earlier.

The corporate group’s net loss narrowed to $17.1 million from $35.9 million. The company attributed the improvement primarily to its June repayment of $1.15 billion in debt following a senior note offering.

Share article
TelegramXFacebook

When reusing this material a link to Money Talk is required.

Comments (0)

Leave a comment

No comments yet. Be the first!