Logo

AQNB

Algonquin Power & Utilities Cor

AQNB

Algonquin Power & Utilities Cor • NYSE
$25.70 ▲ 0.00% (+0.00)
Market Cap $18.87 B
52w High $26.22
52w Low $24.59
Dividend Yield 2.19%
P/E 0
Volume 8.93K
Outstanding Shares 734.05M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $582.7M ▲ $306.7M ▲ $38.9M ▲ 6.676% ▲ $0.031 ▲ $252.1M ▲
Q2-2025 $527.8M ▼ $121M ▲ $24.1M ▼ 4.566% ▼ $0.019 ▼ $183M ▼
Q1-2025 $692.4M ▲ $99.2M ▼ $96.8M ▲ 13.98% ▲ $0.12 ▲ $280.4M ▲
Q4-2024 $584.828M ▲ $99.298M ▼ $-186.438M ▲ -31.879% ▲ $-0.13 ▼ $120.485M ▼
Q3-2024 $573.199M $105.72M $-1.306B -227.792% $0.072 $225.023M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2025 $54.3M ▼ $13.693B ▲ $8.567B ▲ $4.682B ▼
Q1-2025 $72.2M ▲ $13.663B ▼ $8.514B ▼ $4.694B ▼
Q4-2024 $34.842M ▼ $16.962B ▼ $10.78B ▼ $4.708B ▼
Q3-2024 $64.341M ▼ $17.789B ▼ $11.427B ▲ $4.843B ▼
Q2-2024 $131.633M $18.866B $11.171B $6.179B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2025 $24.1M ▼ $249.9M ▲ $-198.8M ▼ $-59.5M ▲ $-7.9M ▼ $64.1M ▲
Q1-2025 $96.8M ▲ $73.9M ▲ $1.735B ▲ $-1.85B ▼ $90.5M ▲ $-148.7M ▲
Q4-2024 $-186.438M ▲ $48.118M ▼ $786.248M ▲ $-856.758M ▼ $-156.325M ▼ $-225.139M ▼
Q3-2024 $-1.306B ▼ $66.654M ▼ $-185.345M ▲ $126.296M ▲ $8.825M ▼ $-115.628M ▼
Q2-2024 $200.766M $236.201M $-256.516M $59.651M $39.5M $31.865M

Five-Year Company Overview

Income Statement

Income Statement Algonquin’s sales have grown over the past several years but have recently softened a bit. The core business appears capable of generating steady operating profit, but bottom-line earnings have been quite volatile. After a strong profit a few years ago, results dipped into losses, briefly recovered, and then swung to a sizeable loss most recently. That kind of pattern often reflects one-time charges, higher interest costs, or strategy shifts rather than day‑to‑day operations alone. In short, revenue is relatively stable for a utility, but consistency of net profit has been a clear weak spot and a key area to watch.

Balance Sheet

Balance Sheet The company has built up a large base of regulated assets over time, which is typical for a utility, but it has also taken on a heavy debt load to do so. Total debt has climbed meaningfully compared with several years ago, while shareholder equity has been broadly flat and has even edged down recently. Cash on hand is quite thin, which is also common in utilities but leaves limited room for error. Management’s plan to sell non‑regulated assets to pay down debt is an important step, because the balance sheet today looks stretched and more sensitive to interest rates and regulatory setbacks than in the past.

Cash Flow

Cash Flow Algonquin regularly generates solid cash flow from its operations, which is a positive sign for the underlying health of the business. However, the company spends heavily on infrastructure and growth projects, so cash going out the door for capital investments has consistently exceeded the cash coming in. That means free cash flow has been negative for several years running, and the gap had been quite wide at times. This pattern fits a utility that is aggressively investing in its network, but it also means the company relies heavily on borrowing or asset sales to fund its plans. The key question is whether future spending becomes more balanced relative to cash generated.

Competitive Edge

Competitive Edge As a regulated utility, Algonquin benefits from a protected position in its service territories: customers typically have no competing provider, and regulators set rates that are meant to allow a fair return. The company’s mix of electricity, natural gas, and water utilities across multiple regions provides diversification and makes its earnings less dependent on any single market or commodity. Moving toward a pure-play regulated model should make results more predictable and reduce exposure to merchant power markets. The main competitive risks are not from rivals, but from regulatory decisions, political pressure on rates, and the need to earn approval for continued investment and cost recovery.

Innovation and R&D

Innovation and R&D Algonquin is not focused on flashy, high-risk R&D; instead it is modernizing its systems with practical, proven technologies. Smart meters, leak detection tools, and advanced mapping software are being rolled out to better track usage, cut waste, and improve reliability. Digital portals and apps are meant to give customers more control and visibility, which is unusual in a sector where customer experience has often been an afterthought. Behind the scenes, unified data systems and safety technologies should make operations more efficient and responsive to storms, wildfires, and maintenance needs. Early exploration of renewable natural gas and green hydrogen points to a gradual, disciplined approach to the energy transition rather than big speculative bets.

Summary

Algonquin today looks like a utility in the middle of a strategic cleanup. The core regulated operations are relatively steady and supported by long‑lived assets, but earnings have been choppy and the balance sheet is burdened by substantial debt and years of heavy investment. Cash generation from operations is healthy, yet has not been enough to fully cover the company’s ambitious capital spending, pushing reliance on borrowing and asset sales. On the positive side, shifting to a pure regulated model, modernizing infrastructure, and sharpening the customer focus all aim to build a simpler, more predictable business. The main things to monitor going forward are the stabilization of profits, meaningful debt reduction, the balance between future spending and cash flow, and the company’s success in working with regulators to recover its investments through rates.