Algonquin Power (NYSE:AQN) reported its Q1 earnings results on Thursday, May 11, 2023 at 06:30 AM.
Here’s what investors need to know about the announcement.
Earnings
Algonquin Power beat estimated earnings by 6.25%, reporting an EPS of $0.17 versus an estimate of $0.16.
Revenue was up $42.90 million from the same period last year.
Past Earnings Performance
Last quarter the company missed on EPS by $0.01 which was followed by a 3.78% increase in the share price the next day.
Here’s a look at Algonquin Power’s past performance:
| Quarter | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 |
|---|---|---|---|---|
| EPS Estimate | 0.23 | 0.17 | 0.15 | 0.20 |
| EPS Actual | 0.22 | 0.11 | 0.16 | 0.21 |
| Revenue Estimate | 703.54M | 594.76M | 621.04M | 688.81M |
| Revenue Actual | 748.00M | 666.70M | 624.30M | 735.70M |
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
Guidance
Algonquin Power management provided guidance for FY 2023, expecting earnings between $0.55 and $0.61 per share.
To track all earnings releases for Algonquin Power visit their earnings calendar here.
This article was generated by Benzinga’s automated content engine and reviewed by an editor.
