Algonquin Power & Utilities Corp. (AQN - Free Report) reported third-quarter 2019 earnings of 14 cents per share, beating the Zacks Consensus Estimate of 13 cents by 7.7%. Moreover, the reported earnings were 40% higher than the year-ago figure of 10 cents.
Total Revenues
Algonquin Power & Utilities generated total revenues of $365.6 million in third-quarter 2019, lagging the Zacks Consensus Estimate of $376 million by 2.8%. The top line also declined 0.2% from $366.2 million in the year-ago quarter.
Highlights of the Release
The Maverick Creek Wind Project joint venture between Algonquin Power & Utilities and Renewable Energy Systems Americas Inc. to develop the 480-megawatt Maverick Creek Wind Project located in Concho County, TX was formed during the third quarter. This will enable Algonquin Power & Utilities to enhance its renewable footprint.
Total expenses in the reported quarter were $281.3 million, on par with the year-ago figure.
Operating income in the reported quarter was $84.3 million, down 0.7% year over year.
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It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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Algonquin Power & Utilities Corp. (AQN - Free Report) reported third-quarter 2019 earnings of 14 cents per share, beating the Zacks Consensus Estimate of 13 cents by 7.7%. Moreover, the reported earnings were 40% higher than the year-ago figure of 10 cents.
Total Revenues
Algonquin Power & Utilities generated total revenues of $365.6 million in third-quarter 2019, lagging the Zacks Consensus Estimate of $376 million by 2.8%. The top line also declined 0.2% from $366.2 million in the year-ago quarter.
Highlights of the Release
The Maverick Creek Wind Project joint venture between Algonquin Power & Utilities and Renewable Energy Systems Americas Inc. to develop the 480-megawatt Maverick Creek Wind Project located in Concho County, TX was formed during the third quarter. This will enable Algonquin Power & Utilities to enhance its renewable footprint.
Total expenses in the reported quarter were $281.3 million, on par with the year-ago figure.
Operating income in the reported quarter was $84.3 million, down 0.7% year over year.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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