Welcome to our dedicated page for Algonquin Power news (Ticker: AQN), a resource for investors and traders seeking the latest updates and insights on Algonquin Power stock.
Algonquin Power & Utilities Corp. (AQN) generates a steady stream of news as a diversified international generation, transmission, and distribution utility and the parent company of Liberty. With regulated electric, water, wastewater, and natural gas utilities in multiple jurisdictions and hydroelectric generation facilities in Canada, the company regularly reports developments that matter to investors, customers, and regulators.
News coverage for AQN commonly features quarterly and interim financial results, where the company discusses performance of its Regulated Services Group, Hydro Group, and Corporate Group. These updates often highlight the impact of approved rates across its utilities, regulatory proceedings at specific systems, and the contribution of hydroelectric generation in Canada. Releases also describe the use of non-GAAP measures such as Adjusted Net Earnings and provide reconciliations to U.S. GAAP metrics.
Another key category of AQN news is corporate and leadership announcements. Recent items include the appointment of a Chief Operating Officer to lead electric, gas, and water regulated utility operations, as well as the creation of roles such as Chief Regulatory and External Affairs Officer and Chief Customer Officer. These updates explain how new executives are expected to support Algonquin’s focus on operational execution, regulatory strategy, and customer experience.
Investors following AQN will also see dividend declarations for its common and preferred shares, including details on payment currencies and eligibility under Canadian tax legislation, as well as announcements of dates for upcoming financial results and earnings conference calls. Annual meeting results, including director elections and shareholder votes on matters such as the shareholder rights plan and executive compensation approach, are also reported.
By tracking the AQN news feed, readers can monitor financial performance, regulatory milestones, leadership changes, dividend decisions, and governance developments that shape the company’s profile as a regulated utility and hydroelectric power operator.
Algonquin Power & Utilities Corp. (TSX/NYSE: AQN) has announced the appointment of Brian Chin as Interim Chief Financial Officer, effective March 7, 2025. Chin, who currently serves as Vice President of Investor Relations, will take over from current CFO Darren Myers, who is departing for another opportunity.
The company has engaged a national search firm to identify a permanent CFO. Chin, who joined Algonquin in 2021, brings over two decades of utilities experience, including senior executive positions at Algonquin and American Water Works in Investor Relations, Treasury, and Strategic Financial Planning. He previously worked as a lead utility equity analyst at Bank of America Merrill Lynch and Citigroup, and in Audit at KPMG.
Algonquin Power & Utilities (TSX/NYSE: AQN) has announced that Rod West will become CEO effective March 7, 2025, succeeding Chris Huskilson, who will remain on the Board. West joins from Entergy, where he served as Group President of Utility Operations for 25 years, overseeing electric and gas distribution, customer service, regulatory engagement, and commercial development.
The appointment aligns with AQN's strategic transformation into a pure-play regulated utility. Under Huskilson's leadership, the company has made progress in its strategic plan, including selling its interest in Atlantica, divesting its renewable energy business (excluding hydro), and initiating cost structure and operational efficiency improvements.
West's appointment is viewed as strategic given his extensive utility industry experience, including leading Entergy New Orleans' reconstruction after Hurricane Katrina.
Algonquin Power & Utilities Corp. (TSX/NYSE: AQN) has scheduled the release of its fourth quarter and full year 2024 financial results for Friday, March 7, 2025, before market open. The company will host an earnings conference call at 8:30 a.m. ET on the same day, featuring Chief Executive Officer Chris Huskilson and Chief Financial Officer Darren Myers.
The conference call will be accessible via toll-free number 1-800-715-9871 or toll number 1-647-932-3411 with Conference ID 4528692. A webcast of the presentation will also be available on the company's website.
Algonquin Power & Utilities Corp. (AQN) announced the upcoming departure of Chief Financial Officer Darren Myers, who will remain in his position through the reporting of the company's fourth quarter 2024 results. Myers, who joined in August 2022, has decided to pursue another leadership opportunity.
CEO Chris Huskilson acknowledged Myers' significant role in steering the company through its strategic review and the sale of its renewables business, transforming AQN from a hybrid business to a pure-play regulated utility. The company will immediately begin searching for Myers' replacement, with the current CFO committed to ensuring a smooth transition.
Algonquin Power & Utilities Corp. (AQN) has completed the sale of its non-regulated renewable energy business to LS Power, marking a significant step in its strategic transition to become a pure-play regulated utility. The transaction, combined with the recent sale of its 42.2% stake in Atlantica Sustainable Infrastructure on December 12, 2024, represents a pivotal milestone in reducing the company's complexity.
The company plans to utilize the net proceeds from the transaction to reduce existing debt and strengthen its balance sheet. The deal excludes AQN's hydro fleet. J.P. Morgan acted as the exclusive financial advisor, while Gibson, Dunn & Crutcher LLP and Blake, Cassels & Graydon LLP served as legal advisors for the transaction.
Algonquin Power & Utilities Corp. (AQN) has successfully completed the sale of its 42.2% equity stake in Atlantica Sustainable Infrastructure plc. CEO Chris Huskilson emphasized this transaction as a key achievement in optimizing the company's investment in Atlantica and advancing AQN's strategic transition to become a pure-play regulated utility company. The company plans to use the proceeds to reduce debt and recapitalize its balance sheet. J.P. Morgan Securities served as the financial advisor, with Weil, Gotshal & Manges LLP acting as legal advisor for the transaction.
Algonquin Power & Utilities (AQN) has announced its Q4 2024 dividend distributions. The company will pay US$0.0650 (C$0.0901) per common share on January 15, 2025, to shareholders of record on December 31, 2024. For preferred shares, Series A holders will receive C$0.41100 and Series D holders will receive C$0.42831, both payable on December 31, 2024. The company notes that its dividend reinvestment plan (DRIP) remains suspended since March 16, 2023. All dividends qualify as eligible dividends under Canadian tax legislation.
Algonquin Power & Utilities (AQN) reported Q3 2024 financial results showing mixed performance. Net Utility Sales reached $442.9 million, up 6%, and Adjusted EBITDA increased 4% to $264.4 million. However, Adjusted Net Earnings decreased 5% to $64.9 million, with earnings per share dropping 20% to $0.08. The company announced progress in its strategic transition, including the sale of its renewables business to LS Power for up to $2.5 billion. Notable developments include new rate case filings, with CalPeco Electric seeking a $39.8 million revenue increase and Empire Electric requesting $92.1 million in Missouri.
Algonquin Power & Utilities Corp. (TSX: AQN) (NYSE: AQN) has announced the release date for its third quarter 2024 financial results. The company will publish its results on Thursday, November 7, 2024, before market open. Following the release, AQN will host an earnings conference call at 10:00 a.m. eastern time on the same day.
The call will be led by Chief Executive Officer, Chris Huskilson, and Chief Financial Officer, Darren Myers. Investors and analysts can participate in the conference call using the provided toll-free and toll dial-in numbers, along with the conference ID. Additionally, a webcast of the presentation will be available on the company's website.
LS Power has agreed to acquire Algonquin Power & Utilities Corp.'s (AQN) renewable energy business, significantly expanding its renewable portfolio. The acquisition includes 44 operating assets with over 3,000 MW capacity and an 8,000 MW project pipeline across the US and Canada. The deal, expected to close in Q4 2024 or Q1 2025, will complement LS Power's existing 19,000 MW fleet of renewable and flexible energy projects.
The acquired assets are strategically located across major US markets (NYISO, MISO, PJM, ERCOT, CAISO) and Canada. This move aligns with LS Power's focus on meeting rising electric demand and advancing the energy transition through its various platforms, including REV Renewables, EVgo, CPower Energy Management, and others.