Algonquin Power & Utilities (AQN) Q3 2026 Earnings
Adjusted Net Earnings per share of $0.11 excludes $30.5 million of adjusted items, including $16.6 million of Mountain View Fire related costs, $7.7 million of restructuring costs, an $8.3 million loss on net assets classified as held for sale (Chile) and a $1.9 million foreign exchange loss, less a $4.0 million tax adjustment. GAAP basic and diluted EPS from continuing operations was $0.07, versus $0.09 a year earlier.
How Did AQN Stock React to Q3 2026 Earnings?
Did AQN Beat Earnings? Q3 2026 Results
Yes. Algonquin Power & Utilities reported Q3 2026 earnings of $0.11 a share on Nov 6, 2026, beating the $0.10 consensus estimate by 11.9%. Revenue was $642.5M against a $658.5M estimate.
Algonquin Power & Utilities Corp. delivered a mixed third-quarter 2026 report, beating on earnings while falling short on revenue, as the regulated utility's streamlined portfolio showed early signs of stabilization following its major asset sales. The company posted adjusted EPS of $0.11, topping the $0.10 consensus by 11.90%, though GAAP basic and diluted EPS from continuing operations slipped to $0.07 from $0.09 a year earlier, weighed down by $30.5 million in adjusted items including $16.6 million of Mountain View Fire-related costs and an $8.3 million loss on its Chilean assets classified as held for sale. Revenue of $642.50 million rose 10.3% year over year, driven by newly implemented rates at Empire in Missouri and CalPeco in California alongside favorable weather, but came in 2.42% below the $658.45 million consensus. The Corporate Group offered a bright spot, as $1.15 billion in note repayments cut interest expense sharply. With the CPUC vote on Mountain View Fire cost recovery expected November 19, 2026, and several rate cases advancing, management is focused on building earnings momentum to support a sustainable dividend, with a fourth-quarter payout of $0.07 per share declared.
- Adjusted Net Earnings rose to $88.1M ($0.11 per share) from $69.0M ($0.09 per share)
- Regulated electricity distribution revenue rose to $417.8M from $360.8M
- Regulated Services Group revenue of $616.9M vs $558.3M; net earnings $72.6M vs $103.6M; Adjusted Net Earnings $101.0M vs $95.7M
- Implemented rates added $15.2M at Empire District (MO) Electric, $12.1M at CalPeco (CA) Electric, $1.6M at Empire (KS) Electric and $2.4M at certain NY/AZ water systems
- Favourable weather added $20.4M at Empire District (MO) Electric System; electric usage rose 7.4% to 1,987.1 GW-hrs
- Natural gas usage fell 1.7% to 3,662,610 MMBTU on slightly unfavourable weather
- Gas EBIT declined $15.8M on $4.9M lower GSEP revenue at New England (MA) Gas, about $4.4M higher operating expenses and non-recurrence of a $7.1M 2025 depreciation deferral adjustment
- Mountain View Fire non-recoverable costs and additional accruals of $16.6M in Q3 2026
- Other net losses rose to $33.7M from $11.3M, including an $8.3M loss on classifying the Chilean business as held for sale and $7.7M of restructuring costs
- Regulated Services Group interest expense increased $21.8M, mainly due to about $15.7M of interest on the Senior Note Offering
- Corporate Group interest expense fell to $18.4M from $35.3M after $1,150.0M of corporate debt was repaid on June 15, 2026; Corporate Group Adjusted Net Loss narrowed to $15.0M from $30.0M
- Hydro Group net earnings of $2.1M vs $3.3M on revenue of $7.6M vs $8.4M
- Non-recurrence of a $9.1M swap-settlement gain at BELCO Electric System recognized in 2025
- Higher depreciation across utility systems, including $4.7M from PISA-deferred assets at Empire District (MO)
- Loss from discontinued operations narrowed to $0.6M from $34.8M
- Operating cash flow rose $89.2M year over year, driven by working capital changes
What Is Algonquin Power & Utilities's Outlook?
AQN did not provide numeric guidance. It aims to grow earnings and cash flows to support a sustainable dividend while keeping a capital structure consistent with investment-grade credit metrics. The board declared a fourth-quarter 2026 dividend of $0.0650 per share, payable January 15, 2027. Near-term catalysts include: - **Mountain View Fire:** A CPUC vote on the cost-recovery proposed decision is expected November 19, 2026. - **Pending rate cases:** New York Water (hearings pending a possible suspension-period extension to June 29, 2027), EnergyNorth Natural Gas (temporary rates hearing November 19, 2026), Empire Electric Arkansas (hearing January 26, 2027), Empire Electric Oklahoma (hearing February 2, 2027), Granite State Electric, Peach State Gas GRAM (new rates targeted March 2027), and Gold Canyon and Black Mountain Sewer (hearings March 30, 2027). - **New filings:** Empire's FERC transmission formula rate modification and its Missouri Large Load tariff. - **Earnouts:** Up to $1.5 million from the Suralis sale and up to $220 million from the Renewables Sale. - **Redomicile:** The planned move of the company's incorporation to the United States.
AQN YoY Financials
| Metric | Q3 2026 | Q3 2025 | Year over year |
|---|---|---|---|
| Revenue | $642.5M | $582.7M | +10.3% |
| Operating Income | $161.6M | $149.7M | +7.9% |
| Net Income | $59.8M | $38.9M | +53.7% |
AQN Revenue by Segment
AQN Revenue by Geography
Figures from SEC filings and company reports. Not investment advice.