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Algonquin Power & Utilities' (AQN) Q2 Earnings Top Estimates

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Algonquin Power & Utilities’ AQN second-quarter 2021 earnings of 15 cents per share beat the Zacks Consensus Estimate of 14 cents by 7.1%. In the year-ago quarter, the company reported earnings of 9 cents per share, up 67% year over year.

Total Revenues

Algonquin Power & Utilities’ total revenues of $527.5 million surpassed the Zacks Consensus Estimate of $445 million by 18.5%. The top line also improved 53.5% from the year-ago figure of $343.6 million.

Algonquin Power & Utilities Corp. Price, Consensus and EPS Surprise

Algonquin Power & Utilities Corp. Price, Consensus and EPS Surprise
Algonquin Power & Utilities Corp. Price, Consensus and EPS Surprise

Algonquin Power & Utilities Corp. price-consensus-eps-surprise-chart | Algonquin Power & Utilities Corp. Quote

Highlights of the Release

Total operating expenses increased nearly 55.3% year over year to $442.1 million.

Operating income increased nearly 44.5% year over year to $85.4 million.

Interest expenses were $58.1 million, up 29.7% from the year-ago quarter.

The company continues to add clean energy projects to its portfolio, courtesy of completion of organic projects and acquisitions.

Financial Highlights

Cash and cash equivalents were $203.5 million as of Jun 30, 2021 compared with $101.6 million on Dec 31, 2020.

Long-term debt was $6,105.3 million as of Jun 30, 2021 compared with $4,398.6 million on Dec 31, 2020.

Cash provided from operating activities for second-quarter 2021 was $103.3 million compared with $142.9 million in the second quarter of 2020.

Zacks Rank

Algonquin Power & Utilities currently carries a Zacks Rank #4 (Sell).

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Other Releases

Xcel Energy Inc. XEL posted second-quarter 2021 operating earnings of 58 cents per share, surpassing the Zacks Consensus Estimate of 56 cents by 3.6%.

DTE Energy Company DTE reported second-quarter 2021 operating earnings per share of $1.70, which beat the Zacks Consensus Estimate of $1.44 by 18.1%.

NextEra Energy, Inc. NEE reported second-quarter 2021 adjusted earnings of 71 cents per share, which beat the Zacks Consensus Estimate of 67 cents by 5.6%.


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Xcel Energy Inc. (XEL) : Free Stock Analysis Report

NextEra Energy, Inc. (NEE) : Free Stock Analysis Report

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Algonquin Power & Utilities Corp. (AQN) : Free Stock Analysis Report

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