The following is a summary of the Algonquin Power & Utilities Corp. (AQN) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Algonquin Power & Utilities Corp closed financings worth approximately $2.3 billion in Q1 2024.

• Net utility and energy sales were up 5.7% year over year, reaching $519.9 million.

• Adjusted EBITDA was $344.3 million.

• Adjusted net earning was $95.6 million, a decrease from the $119.9 million reported last year.

• The adjusted net earnings per share stand at $0.14, an 18% drop year over year.

Business Progress:

• The company is executing the sale of its renewables business to focus solely on the regulated business model.

• Efforts continue on the transition towards a pure-play regulated strategy.

• There was year-over-year growth in operating profits and net utility sales at the regulated division.

• The enterprise IT platform was fully deployed to simplify business operations.

• 44 megawatts were added to their net economic ownership through the purchase of the remaining 50% equity interest in Sandy Ridge II Wind Facility.

• There will be an investor update on the company's direction by the end of this year or early next year.

• The renewables business was on target for the quarter.

More details: Algonquin Power & Utilities IR

Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.