Algonquin Power & Utilities Corp. AQN reported fourth-quarter 2018 operating earnings of 14 cents per share, beating the Zacks Consensus Estimate by a penny. However, the reported earnings declined 13% on a year-over-year basis.
Total Revenues
Algonquin Power & Utilities generated total revenues of $419.9 million in fourth-quarter 2018, beating the Zacks Consensus Estimate of $414 million by 1.4%. The top line also increased 3% from $409.5 million in the year-ago quarter.
The company recorded significant progress and growth across businesses, both domestically and internationally, which boosted total revenues.
Highlights of the Release
Algonquin Power & Utilities’ adjusted EBITDA in the fourth quarter was $196.9 million, up 6% year over year.
Fourth-quarter dividend of the company was 12.82 cents, reflecting a year-over-year increase of 10%.
The company remains focused on capital investment of $7.5 billion in the next five years, which will help it to maintain its strong performance.
Zacks Rank
Algonquin Power & Utilities currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Utility Releases
American Electric Power Co., Inc. AEP reported fourth-quarter 2018 operating earnings per share (EPS) of 72 cents, in line with the Zacks Consensus Estimate.
NextEra Energy, Inc. NEE reported fourth-quarter 2018 adjusted earnings of $1.49 per share, which lagged the Zacks Consensus Estimate of $1.51 by 1.3%.
Duke Energy Corporation DUK reported fourth-quarter 2018 adjusted earnings of 84 cents per share, which missed the Zacks Consensus Estimate of 89 cents by 5.6%.
This Could Be the Fastest Way to Grow Wealth in 2019
Research indicates one sector is poised to deliver a crop of the best-performing stocks you'll find anywhere in the market. Breaking news in this space frequently creates quick double- and triple-digit profit opportunities.
These companies are changing the world – and owning their stocks could transform your portfolio in 2019 and beyond. Recent trades from this sector have generated +98%, +119% and +164% gains in as little as 1 month.
Click here to see these breakthrough stocks now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Be the first to comment