NYSE$AQN
Algonquin Power & Utilities Corp · Q1 2025 earnings
Q1 2025 earnings · · Before market open · Investor relations
Briefing
AQN swings to profit on regulated utility strength and lower interest expense
Algonquin Power & Utilities reported a constructive first quarter of 2025 with revenue of $692.4 million, up 7% year over year, as new rates at electric, water and gas utilities and favorable weather lifted the Regulated Services Group. GAAP net earnings attributable to shareholders were $95.4 million, or $0.12 per share, compared with a net loss of $56.8 million a year earlier, while adjusted net earnings rose 39% to $111.6 million, or $0.14 per share. The turnaround reflected implementation of new rates, a non-recurring $8.2 million depreciation true-up, reduced interest expense after debt repayment from asset sales, and a $13.4 million one-time tax recovery in the Hydro Group. CEO Rod West highlighted solid core utility performance and scheduled a June 3 investor update for forward outlook.
- Revenue of $692.4 million increased 7% YoY, driven by new utility rates and favorable weather at Empire Electric.
- GAAP net earnings were $95.4 million ($0.12/share) versus a $56.8 million loss in Q1 2024; adjusted EPS was $0.14.
- Regulated Services Group net earnings rose 43% on rate cases and lower interest expense after renewable sale proceeds.
- Company obtained conclusive rate orders totaling ~$22.3 million in authorized revenue increases across four utilities.
- Dividends declared to common shareholders were $50.4 million, down 33% YoY after the Atlantica stake sale.
Headline financials
Revenue & EPS history
Algonquin · Revenue · Quarterly
$692M
Revenue by segment
Algonquin · $768M total across 3 segments · Q1 2026
- Regulated electricity distribution$372M—48.4%
- Regulated gas distribution$302M—39.3%
- Regulated water distribution$94.1M—12.2%
Forward guidance
Management plans an investor update on June 3, 2025 at 1:30 p.m. ET to provide forward-looking financial outlook after a ~90-day strategic review.
Tailwinds
- Constructive rate case outcomes with ~$22.3M in authorized revenue increases
- Stronger balance sheet and lower interest expense after renewable divestiture
Headwinds
- Loss of Atlantica dividend income following stake sale
- Forward outlook deferred until June 3 investor update
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2025
-1.1%
Avg return
Earnings day
-0.8%
Avg return
5 days after
+0.0%
Avg return
30 days after
51%
30 / 59 earnings
Positive
+8.2%
Q3 2025
Best reaction
-30.8%
Q3 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -10.7% | -5.6% | -4.2% | |
| Q3 2025 | +8.2% | +7.7% | +2.4% | |
| Q2 2025 | -3.9% | -1.7% | -4.2% | |
| Q1 2025 | +0.2% | -0.4% | +7.1% | |
| Q4 2023 | +5.1% | +1.0% | +1.3% | |
| Q3 2023 | -1.8% | +3.9% | +8.6% | |
| Q2 2023 | -3.6% | -7.9% | -8.4% | |
| Q1 2023 | -3.7% | -5.3% | -3.2% | |
| Q4 2022 | +2.0% | +1.7% | +12.5% | |
| Q3 2022 | -30.8% | -33.3% | -37.5% | |
| Q2 2022 | +0.0% | +0.4% | -5.0% | |
| Q1 2022 | +4.9% | +7.0% | +5.5% | |
| Q4 2021 | +0.8% | +2.3% | +6.9% | |
| Q3 2021 | -1.0% | -1.3% | -3.2% | |
| Q2 2021 | -1.7% | -1.8% | -3.5% | |
| Q1 2021 | +0.9% | -1.1% | -1.1% | |
| Q4 2020 | -2.6% | -1.3% | +2.4% | |
| Q3 2020 | -3.0% | -4.8% | -2.7% | |
| Q2 2020 | -0.4% | +0.8% | +1.7% | |
| Q1 2020 | +0.3% | -1.0% | +6.0% | |
| Q4 2019 | -7.7% | -1.0% | -22.6% | |
| Q3 2019 | -0.6% | -0.3% | +5.0% | |
| Q2 2019 | +0.7% | +0.8% | +3.3% | |
| Q1 2019 | +0.8% | +0.4% | +8.7% | |
| Q4 2018 | +0.1% | +1.8% | +2.2% | |
| Q3 2018 | -2.1% | +0.0% | +3.0% | |
| Q2 2018 | +1.6% | -0.6% | -1.9% | |
| Q4 2017 | +1.6% | -0.6% | -1.9% | |
| Q3 2017 | +1.7% | +4.2% | +4.4% | |
| Q2 2017 | +1.1% | +2.5% | +7.2% | |
| Q4 2016 | +1.7% | +3.9% | +5.5% | |
| Q1 2017 | +1.7% | +3.9% | +5.5% | |
| Q3 2016 | -2.2% | -3.9% | -2.5% | |
| Q2 2016 | -0.9% | +3.6% | +3.0% | |
| Q4 2015 | +0.0% | — | — | |
| Q1 2016 | +1.6% | — | — | |
| Q3 2015 | +2.3% | — | — | |
| Q2 2015 | -4.7% | — | — | |
| Q1 2015 | -1.3% | — | — | |
| Q4 2014 | -1.3% | — | — | |
| Q3 2014 | -12.2% | — | — | |
| Q2 2014 | +1.2% | — | — | |
| Q1 2014 | +0.7% | — | — | |
| Q4 2013 | +1.1% | — | — | |
| Q3 2013 | -0.8% | — | — | |
| Q1 2013 | +0.3% | — | — | |
| Q2 2013 | +0.3% | — | — | |
| Q4 2012 | +0.3% | — | — | |
| Q3 2012 | -0.1% | — | — | |
| Q2 2012 | -0.8% | — | — | |
| Q1 2012 | -0.8% | — | — | |
| Q4 2010 | +0.3% | — | — | |
| Q4 2011 | +0.3% | — | — | |
| Q3 2011 | -0.7% | — | — | |
| Q2 2011 | -5.1% | — | — | |
| Q1 2011 | -5.1% | — | — | |
| Q2 2010 | +1.8% | — | — | |
| Q3 2010 | +1.8% | — | — | |
| Q1 2010 | +0.7% | — | — |
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