Algonquin’s Adjusted Earnings Rise to $88.1 Million in Third Quarter of 2026
Key Facts
Algonquin Power & Utilities reported on November 6, 2026, that net earnings were $57.6 million, or $0.07 per common share, in the third quarter, compared with $71 million and $0.09 per share in the same period of 2025. Adjusted earnings, by contrast, rose to $88.1 million, or $0.11 per share, from $69 million and $0.09 per share a year earlier. The comparison shows a divergence between the two profitability measures: net earnings declined, while adjusted earnings increased year over year. Chief Executive Rod West said quarterly progress reflected "continued execution of our back-to-basics strategy." The results were released on the date the company had previously set for publication before the market opened, with an earnings call scheduled for the same day.
For the nine months ended September 30, 2026, the company reported net earnings of $145.6 million, compared with $178.6 million in the corresponding period of 2025. Adjusted earnings were $216.9 million, compared with $211.6 million a year earlier. This trend reflects a decline in net earnings over the extended period alongside an increase in adjusted earnings, a divergence also seen in the third-quarter results. The nine-month figures cover the period from the start of the year through the end of September, while the quarterly figures compare the third quarter alone with the same quarter a year earlier. The extended-period results therefore place the quarter in the context of performance through the end of September, without replacing the direct quarterly comparison.
In the regulated services segment, the company said net earnings fell to $72.6 million in the third quarter from $103.6 million in the same period of 2025. It attributed pressure on the segment’s results to a $21.8 million increase in interest expense, as well as one-time items totaling $35.4 million. Those items included, according to the company’s statement, $16.6 million in non-recoverable costs and additional provisions related to the Mountain View fire. This detail gives the company’s explanation of the main factors weighing on the segment’s results during the quarter, while the company’s adjusted earnings overall remained above their level a year earlier. These items provide some context for the divergence between net earnings and adjusted profitability, without changing the reported comparative figures for either measure.
West said the company filed a proposed large-load tariff in Missouri during the quarter and completed the sale of its stake in a Chilean water utility, a move the statement said supports redirecting capital toward regulated businesses. The chief executive linked these actions to continued execution of the "back-to-basics" strategy, which he said reflected progress in the third quarter. Details of these steps are based on the company’s results disclosure, which listed them among the period’s key developments. The company also said its plan to redomicile in the United States remained on track. It added that the process of obtaining a private letter ruling from the U.S. Internal Revenue Service was progressing as expected.
Algonquin describes itself as the parent company of Liberty and a diversified international utility operating in power generation, transmission and distribution. According to the company, its portfolio includes investments in generation, transmission and distribution utilities and provides energy and water solutions to more than one million customer connections, most of them in the United States and Canada. This description places regulated utility operations within the scope of the company’s business, alongside the generation activity cited in its corporate profile. The company had previously announced that it would release third-quarter results before the market opened on November 6 and hold an earnings call at 8:30 a.m. Eastern Time the same day. The call time was included in the disclosure setting out the schedule for investors ahead of the results.
In the available trading data, AQNB shares closed at $25.4 on November 5, 2026, the session before the results announcement date set for November 6. AGQPF shares closed at $14.45 on November 3, 2026. The latter price is from a session earlier than AQNB’s close, so each figure refers to a different date. These prices are listed as closing records for their specified dates; the data do not include a price for the results-release session. The company had scheduled the earnings call for 8:30 a.m. Eastern Time on November 6, alongside the release of results before the market opened.