Algonquin Power: Q1 Earnings Insights

Algonquin Power 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.

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.

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).

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.

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