EarningsQ2 2026 Earnings Report
DE:751 Q2 2026 EPS Results
Actual EPS€0.04
Consensus EPS€0.03
Beat/MissBeat by +<€0.01
One Year Ago EPS€0.04
DE:751 Q2 2026 Revenue Results
Actual Revenue€455.91M
Expected Revenue€519.08M
Beat/MissMissed by -€63.17M
YoY Revenue Growth+3.10%
Earnings Announcement Details
QuarterQ2 2026
Date08/07/2026
TimeBefore Open
Conference CallFriday, August 7, 2026
DE:751 Upcoming Earnings
Algonquin Power & Utilities's next earnings date is estimated for November 6, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
DE:751 Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Neutral
The call highlighted strong operational and regulatory progress—multiple rate case wins/filings, project approvals (250 MW CCN and CWIP), a strategic U.S. redomicile plan with anticipated recurring tax and EPS benefits, and balance sheet actions that preserved ratings. However, near-term financial results showed notable declines (GAAP and adjusted earnings), a $17.2M write-down tied to California WEMA, rising interest and operating costs, weather headwinds and pending one-time tax/exit cost uncertainty from the redomicile. Taken together, the positives around long-term strategy and regulatory momentum materially offset—but do not fully outweigh—the short‑term earnings and cost pressures and execution/timing risks.Company Guidance
Regulatory approvals and constructive rate outcomes
Multiple favorable regulatory actions in Q2: Missouri PSC approved implementation of $97 million in annualized revenue adjustments (effective Aug 3); Kansas settlement approved an $8.8 million revenue adjustment and provision for 50% of wind revenues year 1; California WEMA proposed decision authorized ~$58.1 million recovery (~75% of requested). Several new rate filings signal future revenue opportunities (New York Water $38.1M request, EnergyNorth $35.8M request, Empire Electric Arkansas $8.4M). The company is also pursuing FERC treatment to enable projected test year and CWIP for transmission projects.
Operational milestones and project approvals
Received Certificate of Convenience and Necessity (CCN) for a 250 MW gas-fired generation project in Missouri and secured CWIP regulatory recovery eligibility for that project (ARIS). Department of Energy approved reimbursement of $5 million for an AMI grant reinstated in California. Management reported measurable improvements in customer service/performance metrics and strengthened regulator relationships.
Balance sheet actions and maintained credit profile
Raised approximately $1.15 billion at Liberty Utilities via a private placement and used proceeds to pay down $1.15 billion of maturing Algonquin notes. Credit ratings remain investment grade (Algonquin: BBB by S&P and Fitch; Liberty: Baa2 Moody's and BBB by S&P/Fitch). Management does not expect to issue equity through 2027 and reconfirmed unchanged adjusted net EPS guidance.
CalPeco and rate drivers materially supporting revenue
Approved CalPeco rates contributed +$12.1 million in Q2 and +$38.7 million year-to-date to net revenues. Additional net revenue gains were recorded at water utilities in New York, Arizona and Chile and customer growth in Arizona; combined non-CalPeco net revenue lift in Q2 totaled approximately $7.5 million.
Strategic redomicile expected to yield recurring tax and EPS benefits
Management announced intent to redomicile to the U.S. (Delaware) with HQ in Chicago; expects elimination of ~5% dividend withholding tax and BEAT (~10% on debt-service flows), with an estimated recurring EPS uplift of roughly $0.02–$0.03 (or ~2–2.5 cents) on a run-rate basis. Targeted shareholder vote in H1 2027 and anticipated broader access to U.S. capital markets and potential index inclusion.
DE:751 Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed