OAKVILLE, Ontario (AP) — OAKVILLE, Ontario (AP) — Algonquin Power & Utilities Corp. (AQN) on Friday reported first-quarter net income of $96.8 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Oakville, Ontario-based company said it had profit of 12 cents. Earnings, adjusted for one-time gains and costs, were 14 cents per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 9 cents per share.
The utility operator posted revenue of $692.4 million in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $665.6 million.
Algonquin Power & Utilities shares have increased 23% since the beginning of the year. The stock has fallen 18% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AQN at https://www.zacks.com/ap/AQN
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