OAKVILLE, Ontario (AP) — OAKVILLE, Ontario (AP) — Algonquin Power & Utilities Corp. (AQN) on Friday reported fourth-quarter net income of $18.4 million, after reporting a loss in the same period a year earlier.
The Oakville, Ontario-based company said it had net income of 3 cents per share. Earnings, adjusted for one-time gains and costs, were 6 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 4 cents per share.
The utility operator posted revenue of $630.7 million in the period.
For the year, the company reported net income of $170.3 million, or 22 cents per share, swinging to a profit in the period. Revenue was reported as $2.43 billion.
Algonquin Power & Utilities shares have climbed 12% since the beginning of the year. The stock has risen 43% 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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