Algonquin Power & Utilities’ (AQN - Free Report) second-quarter 2021 earnings of 15 cents per share beat the Zacks Consensus Estimate of 14 cents by 7.1%. In the year-ago quarter, the company reported earnings of 9 cents per share, up 67% year over year.
Total Revenues
Algonquin Power & Utilities’ total revenues of $527.5 million surpassed the Zacks Consensus Estimate of $445 million by 18.5%. The top line also improved 53.5% from the year-ago figure of $343.6 million.
Highlights of the Release
Total operating expenses increased nearly 55.3% year over year to $442.1 million.
Operating income increased nearly 44.5% year over year to $85.4 million.
Interest expenses were $58.1 million, up 29.7% from the year-ago quarter.
The company continues to add clean energy projects to its portfolio, courtesy of completion of organic projects and acquisitions.
Financial Highlights
Cash and cash equivalents were $203.5 million as of Jun 30, 2021 compared with $101.6 million on Dec 31, 2020.
Long-term debt was $6,105.3 million as of Jun 30, 2021 compared with $4,398.6 million on Dec 31, 2020.
Cash provided from operating activities for second-quarter 2021 was $103.3 million compared with $142.9 million in the second quarter of 2020.
Zacks Rank
Algonquin Power & Utilities currently carries a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Other Releases
Xcel Energy Inc. (XEL - Free Report) posted second-quarter 2021 operating earnings of 58 cents per share, surpassing the Zacks Consensus Estimate of 56 cents by 3.6%.
DTE Energy Company (DTE - Free Report) reported second-quarter 2021 operating earnings per share of $1.70, which beat the Zacks Consensus Estimate of $1.44 by 18.1%.
NextEra Energy, Inc. (NEE - Free Report) reported second-quarter 2021 adjusted earnings of 71 cents per share, which beat the Zacks Consensus Estimate of 67 cents by 5.6%.
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Algonquin Power & Utilities’ (AQN - Free Report) second-quarter 2021 earnings of 15 cents per share beat the Zacks Consensus Estimate of 14 cents by 7.1%. In the year-ago quarter, the company reported earnings of 9 cents per share, up 67% year over year.
Total Revenues
Algonquin Power & Utilities’ total revenues of $527.5 million surpassed the Zacks Consensus Estimate of $445 million by 18.5%. The top line also improved 53.5% from the year-ago figure of $343.6 million.
Highlights of the Release
Total operating expenses increased nearly 55.3% year over year to $442.1 million.
Operating income increased nearly 44.5% year over year to $85.4 million.
Interest expenses were $58.1 million, up 29.7% from the year-ago quarter.
The company continues to add clean energy projects to its portfolio, courtesy of completion of organic projects and acquisitions.
Financial Highlights
Cash and cash equivalents were $203.5 million as of Jun 30, 2021 compared with $101.6 million on Dec 31, 2020.
Long-term debt was $6,105.3 million as of Jun 30, 2021 compared with $4,398.6 million on Dec 31, 2020.
Cash provided from operating activities for second-quarter 2021 was $103.3 million compared with $142.9 million in the second quarter of 2020.
Zacks Rank
Algonquin Power & Utilities currently carries a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Other Releases
Xcel Energy Inc. (XEL - Free Report) posted second-quarter 2021 operating earnings of 58 cents per share, surpassing the Zacks Consensus Estimate of 56 cents by 3.6%.
DTE Energy Company (DTE - Free Report) reported second-quarter 2021 operating earnings per share of $1.70, which beat the Zacks Consensus Estimate of $1.44 by 18.1%.
NextEra Energy, Inc. (NEE - Free Report) reported second-quarter 2021 adjusted earnings of 71 cents per share, which beat the Zacks Consensus Estimate of 67 cents by 5.6%.
Infrastructure Stock Boom to Sweep America
A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made.
The only question is “Will you get into the right stocks early when their growth potential is greatest?”
Zacks has released a Special Report to help you do just that, and today it’s free. Discover 5 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.
Download FREE: How To Profit From Trillions On Spending For Infrastructure >>
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