By Dean Seal
Algonquin Power swung to a profit in the first quarter with big gains from its regulated services group and its hydro group.
The utility company posted a profit of $95.4 million, compared with a loss of $56.8 million in the same quarter a year earlier.
Stripping out one-time items, adjusted earnings were 14 cents a share. Analysts polled by FactSet had been expecting 10 cents a share.
The swing back to a profit was driven by strength in the company's core regulated utility operations, Chief Executive Rod West said.
The company didn't provide a revenue tally in its earnings release this year.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
May 09, 2025 07:00 ET (11:00 GMT)
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