Algonquin Power & Utilities Corp. (NYSE:AQN) is one of the Best Canadian Stocks Under $10 to Buy Now. On May 8, Algonquin Power & Utilities reported first-quarter 2026 net earnings of $83.1 million, or $0.11 per common share, and adjusted net earnings of $99.6 million, or $0.13 per common share. These numbers represent a slight decrease from the first quarter of 2025, when the company posted net earnings of $92.8 million and adjusted earnings of $0.14 per share. CEO Rod West attributed the steady performance to the company’s back-to-basics strategy, highlighting progress in Algonquin’s transition to a solely regulated utility through the advancement of key regulatory procedures.
The Regulated Services Group earned $119.4 million, benefiting from the approval of several major rate cases. Notable developments included a $48.6 million annualized revenue adjustment for CalPeco Electric in California and a $45.3 million distribution revenue adjustment for New England Gas in Massachusetts. However, these gains were offset by unfavorable weather conditions at Empire District Electric and higher operating expenses related to labor and gas safety initiatives. Meanwhile, the Hydro Group saw its profits fall to $2.1 million, due to the non-recurrence of a one-off fiscal recovery recorded the previous year.
High voltage power lines. Electricity distribution station. High voltage electrical transmission tower. Electrical distribution substation with power lines and transformers.
Algonquin Corporate Group narrowed its net loss to $38.4 million, helped by the absence of foreign exchange losses that impacted prior year results. The company continues to incur restructuring costs associated with its strategic transformation, but remains focused on financial discipline. After the end of the quarter, Algonquin Power & Utilities Corp. (NYSE:AQN) supported its liquidity by closing a $1.15 billion senior unsecured syndicated credit facility, which can be used to refinance existing debt maturing in June.
Algonquin Power & Utilities Corp. (NYSE:AQN) is a Canadian-based regulated utility that provides electricity, natural gas, water and wastewater services to more than 1.2 million customer connections in North America, Bermuda and Chile through Liberty Utilities and related subsidiaries.
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