Algonquin Power (TSE:AQN) has released an update.
Algonquin Power & Utilities Corp. reported mixed financial results for the full year 2023, with a promising uptick in fourth quarter earnings, revealing an 18% increase in Adjusted Net Earnings and a 13% rise in Adjusted EBITDA, despite annual decreases in both revenue and Adjusted Net Earnings. The company is undergoing a strategic shift, including the sale of its renewables division, after terminating a significant transaction. Amidst these changes, Algonquin Power saw growth in its Regulated Services Group and added 453 MW of wind and solar generation capacity.
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