Q1 26 EPS
$0.11
MISS 4.10%
Est. $0.11
Q1 26 Revenue
$792.4M
BEAT +11.03%
Est. $713.7M
vs S&P Since Q1 26
-83.0%
TRAILING MARKET
AQN -77.8% vs S&P +5.2%
Market Reaction
Did AQN Beat Earnings? Q1 2026 Results
Algonquin Power & Utilities Corp. Posted a mixed first quarter for fiscal 2026, with revenue climbing sharply but earnings slipping as higher costs and one-time items clouded an otherwise robust top-line performance. Revenue reached $792.40 million, … Read more Algonquin Power & Utilities Corp. Posted a mixed first quarter for fiscal 2026, with revenue climbing sharply but earnings slipping as higher costs and one-time items clouded an otherwise robust top-line performance. Revenue reached $792.40 million, a 38.2% increase year over year, fueled largely by a landmark California Public Utilities Commission ruling that approved $48.60 million in annualized base revenues for CalPeco Electric retroactive to January 1, 2025, with $60.70 million recognized in the quarter including retroactive amounts. Despite that tailwind, earnings attributable to common shareholders fell to $83.10 million from $92.80 million a year ago, and EPS declined to $0.11 from $0.12, weighed down by $28.50 million in wildfire insurance expense, higher operating costs across utilities, and a sharp drop in Hydro Group earnings following the non-recurrence of a prior-year tax benefit. Looking ahead, the company continues its pivot to a pure-play regulated utility, with several pending rate cases and a new $1.15 billion term facility secured after quarter-end to support debt refinancing and funding needs.
Key Takeaways
- • CalPeco Electric GRC approval resulting in $48.6 million annualized base revenue increase retroactive to January 2025
- • Higher pass-through commodity costs across gas systems increased revenue
- • Natural gas usage increased 4.5% driven by favorable weather at Energy North and Midstates systems
- • Unfavorable weather at Empire District Electric reduced revenue by $11.9 million
- • Higher operating expenses from gas safety excellence initiatives, labor, benefits and property taxes
- • Higher depreciation of $12.6 million including $8.2 million prior-year deferral adjustments
- • Non-recurrence of $13.4 million Hydro Group tax basis step-up from Q1 2025
- • Water volumes declined 6.4% due to lower usage at Park Water and Litchfield Park systems
AQN YoY Financials
Q1 2026 vs Q1 2025, source: SEC Filings
AQN Revenue by Segment
With YoY comparisons, source: SEC Filings
AQN Revenue by Geography
With YoY comparisons, source: SEC Filings
AQN Earnings Trends
AQN vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
AQN EPS Trend
Earnings per share: estimate vs actual
AQN Revenue Trend
Quarterly revenue: estimate vs actual
AQN Quarterly Results
6 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q2 26 | $0.03 | — | — | — | — |
| Q1 26 MISS | $0.11 | $0.11 | -4.10% | $792.4M | +11.03% |
| Q4 25 BEAT FY | $0.05 | $0.06 | +30.15% | $630.7M | +3.93% |
| FY Full Year | — | $0.34 | — | $2.43B | — |
| Q3 25 BEAT | $0.06 | $0.09 | +41.96% | $582.7M | -2.67% |
| Q2 25 MISS | $0.04 | $0.03 | -24.43% | $527.8M | -1.44% |
| Q1 25 BEAT | $0.10 | $0.12 | +25.13% | $692.4M | +6.09% |