OAKVILLE, Ontario (AP) _ Algonquin Power & Utilities Corp. (AQN) on Thursday reported first-quarter net income of $86.4 million.
On a per-share basis, the Oakville, Ontario-based company said it had profit of 17 cents. Earnings, adjusted for non-recurring costs, came to 19 cents per share.
The results fell short of Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 22 cents per share.
The utility operator posted revenue of $477.2 million in the period.
Algonquin Power & Utilities shares have risen 13% since the beginning of the year. The stock has climbed 16% in the last 12 months.
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