OAKVILLE, Ontario (AP) — OAKVILLE, Ontario (AP) — Algonquin Power & Utilities Corp. (AQN) on Friday reported third-quarter net income of $38.9 million, after reporting a loss in the same period a year earlier.
The Oakville, Ontario-based company said it had net income of 5 cents per share. Earnings, adjusted for one-time gains and costs, came to 9 cents per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 6 cents per share.
The utility operator posted revenue of $582.7 million in the period, missing Street forecasts. Three analysts surveyed by Zacks expected $589.7 million.
Algonquin Power & Utilities shares have risen 29% since the beginning of the year. The stock has climbed 19% 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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