Algonquin Power & Utilities: Q4 Earnings Snapshot

OAKVILLE, Ontario (AP) — OAKVILLE, Ontario (AP) — Algonquin Power & Utilities Corp. (AQN) on Friday reported fourth-quarter net income of $186.3 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Oakville, Ontario-based company said it had net income of 27 cents. Earnings, adjusted for one-time gains and costs, were 16 cents per share.

The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 14 cents per share.

The utility operator posted revenue of $666.9 million in the period.

For the year, the company reported net income of $28.7 million, or 3 cents per share, swinging to a profit in the period. Revenue was reported as $2.7 billion.

Algonquin Power & Utilities shares have decreased slightly more than 3% since the beginning of the year. The stock has fallen 20% 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