Algonquin Power & Utilities Corp. (AQN.TO, AQN) reported a first quarter net loss to shareholders of $89.1 million compared to profit of $270.1 million, last year. Loss per share was $0.13 compared to profit of $0.39. Adjusted profit per share declined to $0.14 from $0.17. On average, eight analysts polled by Thomson Reuters expected the company to report profit per share of $0.15, for the quarter. Analysts' estimates typically exclude special items. First quarter revenue was $737.1 million, down 5% from prior year.
The company also announced that the Board has appointed Chris Huskilson as Chief Executive Officer with immediate effect. Huskilson, who has been Interim CEO since August 2023, will continue as a member of the Board.
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