Algonquin Pwr & Util Down 2.15% To $5.47 After Earnings

Algonquin Power & Utilities Corp (AQN) missed earnings estimates for Q3 2023 this morning.

reported that it broke-even during the quarter.

Revenues were downbeat at $0.00. Keep in mind that the revenues reported were on an adjusted basis, so they may not be directly comparable to estimates and prior periods.

The stock is down 2.15% to $5.47 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

The average recommendation from Wall Street analysts was a Hold which may get revised based on this new data.

Trading in the five days leading up to the report earned Algonquin Pwr & Util a Bearish Sentiment Rank from InvestorsObserver.

Algonquin Pwr & Util has performed poorly during the past few months, garnering a low Long-Term Technical Rank by InvestorsObserver of 18, putting Algonquin Pwr & Util in the bottom 25% of stocks. The firm was recently trading at a 52-week low of $4.9 on October 25, 2023 and set a 52-week high on November 10, 2022 at $11.51.

Algonquin Power & Utilities Corp, a parent company of Liberty, is a diversified international generation, transmission, and distribution utility with over $16 billion of total assets. Through its two business groups, the Regulated Services Group and the Renewable Energy Group, AQN is committed to providing safe, secure, reliable, cost-effective, and sustainable energy and water solutions through its portfolio of electric generation, transmission, and distribution utility investments to over one million customer connections, largely in the United States and Canada. AQN provides renewable energy through its portfolio of long-term contracted wind, solar, and hydroelectric generating facilities.