Algonquin Power & Utilities (AQN)
NYSE:AQN
Earnings Data
Report Date
May 07, 2026Before Open (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.12Last Year’s EPS
0.12Same Quarter Last Year
Moderate Buy
Based on 10 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized a clear operational turnaround and balance-sheet strengthening: solid year-over-year adjusted earnings growth (≈17%), adjusted EPS up ~13%, meaningful debt paydown (~$1.6B), large interest expense savings (~$81M Y/Y), improved earned ROE (5.5% → 6.8%), constructive multi-jurisdictional rate-case settlements, and a sizeable regulated capex plan to drive organic rate base growth. Key negatives include a higher-than-expected effective tax rate for 2027 (mid–high 20s) that trims near-term EPS (~$0.03), loss of Atlantica dividend income (~$76M), a $7.3M project write-off, share dilution from prior settlements, and remaining timing/implementation risk on certain rate cases and California wildfire/regulatory exposure. Overall, the positive operational, regulatory, and balance-sheet developments materially outweigh the headwinds, while management retains transparency on remaining execution and tax items.Company Guidance
Strong Full-Year Earnings and Adjusted EPS Outperformance
Full-year GAAP net earnings of $208 million (vs. $54.8 million in 2024) and full-year adjusted net earnings of $258.8 million, up ~17% from $221.6 million in 2024. Full-year adjusted net EPS was $0.34, up from $0.30 in 2024 (≈13% growth) and exceeded the top end of guidance by $0.02.
Quarterly Turnaround
Fourth-quarter GAAP net earnings of $29.4 million compared to a net loss of $110.2 million in Q4 2024. Fourth-quarter adjusted net EPS was $0.06, flat year-over-year, reflecting stability after prior-year weakness.
Operational Cost Improvement
Operating expense as a percentage of gross revenue improved from approximately 38% in 2024 to roughly 36% in 2025 (≈2 percentage point improvement), reflecting realized operating expense savings and 'bending the cost curve.'
Improved Earned ROE
Earned return on equity improved from 5.5% in 2024 to approximately 6.8% in 2025 (≈+1.3 percentage points), demonstrating progress toward closing the gap with authorized returns.
Balance Sheet Strengthening and Interest Savings
Used about $1.6 billion of net proceeds from sale of the renewables business (ex-hydro) to retire debt; total debt approximately $6.5 billion. Full-year interest expense declined by $81.1 million (with a $17.9 million reduction in Q4) due to debt paydowns. Liquidity reported at over $1.4 billion and investment-grade ratings with stable outlooks from S&P and Fitch.
Constructive Regulatory Progress and Rate Case Wins
Multiple positive regulatory outcomes: Missouri Empire Electric settlement approved authorizing $97 million in revenue (plus potential $13 million contingent); CalPeco proposed decision for $48.6 million revenue increase (allowed ROE 9.75%); New England Natural Gas settlement $45.3 million (allowed ROE 9.3%, stay-out to Oct 31, 2029); Litchfield Park Water & Sewer proposed settlement $15.3 million (allowed ROE 9.75%). These settlements advance recovery and rate base growth.
Rate Base and Capital Plan Supporting Organic Growth
Year-end 2025 rate base ~ $8.2 billion (up from $7.9 billion in 2024). Expected rate base: ~$8.5B (2026), ~$9.0B (2027), ~$9.7B (2028) — ~6% CAGR 2025–2028. Regulated utility capex plan of ~$3.2 billion for 2026–2028 (≈$800M in 2026, $1.1B in 2027, $1.3B in 2028), with ~65%–70% expected to be internally funded.
Reaffirmed Near-Term Guidance and No Expected Equity Issuance
2026 adjusted net EPS reaffirmed at $0.35–$0.37; 2027 adjusted net EPS range updated to $0.38–$0.42 (reflecting tax-rate assumptions). Company expects no equity issuance through 2027 and plans to proactively refinance near-term maturities (June 2026 notes).
AQN Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
AQN Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Mar 06, 2026 | $6.81 | $6.01 | -11.64% |
Nov 07, 2025 | $5.60 | $6.11 | +9.09% |
Aug 08, 2025 | $5.73 | $5.50 | -3.88% |
May 09, 2025 | $5.22 | $5.73 | +9.71% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Algonquin Power & Utilities (AQN) report earnings?
Algonquin Power & Utilities (AQN) is schdueled to report earning on May 07, 2026, Before Open (Confirmed).
What is Algonquin Power & Utilities (AQN) earnings time?
Algonquin Power & Utilities (AQN) earnings time is at May 07, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is AQN EPS forecast?
AQN EPS forecast for the fiscal quarter 2026 (Q1) is 0.12.
