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Algonquin Power & Utilities (AQN) Q3 Earnings Meet Estimates

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Algonquin Power & Utilities Corp. (AQN - Free Report) delivered third-quarter 2018 operating earnings of 10 cents per share, in line with the Zacks Consensus Estimate. Quarterly earnings fell 23% year over year.

Total Revenues

Algonquin Power & Utilities generated total revenues of $366.5 million in third-quarter 2018, which beat the Zacks Consensus Estimate of $353.5 million by 3.8%. Revenues increased 3.6% from $353.7 million in the year-ago quarter.

Algonquin Power & Utilities Corp. Price, Consensus and EPS Surprise

 

Algonquin Power & Utilities Corp. Price, Consensus and EPS Surprise | Algonquin Power & Utilities Corp. Quote

Highlights of the Release

Algonquin Power & Utilities’ adjusted EBITDA in the third quarter was $164.2 million, up 4.1% year over year.

In the third quarter, Algonquin Power & Utilities’ adjusted Funds from Operations came in at $127.7 million, up 22% on a year-over-year basis.

Net cash provided from operating activities was $131.5 million in the quarter under review compared with $98.4 million in the third quarter of 2017.

Zacks Rank

Algonquin Power & Utilities carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Utility Releases

NextEra Energy (NEE - Free Report) reported third-quarter 2018 adjusted earnings of $2.18 per share, beating the Zacks Consensus Estimate of $2.17 by 0.46%.

DTE Energy Company (DTE - Free Report) reported third-quarter 2018 operating EPS of $2.13, which beat the Zacks Consensus Estimate of $1.74 by 22.4%.

American Electric Power Co (AEP - Free Report) reported third-quarter 2018 operating EPS of $1.25, which beat the Zacks Consensus Estimate of $1.23 by 1.6%.

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