Algonquin Power & Utilities Corp (AQN) shares are surging 8.39% in pre-market trading on Friday following a trifecta of positive news. The company reported better-than-expected third-quarter results, maintained its dividend, and announced the appointment of a new Chief Financial Officer.
In its Q3 earnings report, Algonquin posted a net income of $73.7 million, up from $49.5 million in the same quarter last year. Adjusted earnings came in at 9 cents per share, significantly beating analysts' expectations of 6 cents per share. The company's Regulated Services Group saw a notable 61% year-over-year increase in net earnings for the quarter, driven by the implementation of approved rates across several of its utilities and favorable weather conditions.
Adding to investor optimism, Algonquin declared a quarterly dividend of US$0.0650 per common share, maintaining its payout to shareholders despite recent challenges in the utility sector. Furthermore, the company announced the appointment of Robert Stefani as its new CFO, effective January 5, 2026. Stefani, who brings valuable experience from his roles at Southwest Gas and PECO Energy, is expected to support Algonquin's transition towards becoming a premium, pure-play regulated utility.
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