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Algonquin Power & Utilities Corp. Announces 2017 First Quarter Financial Results
Algonquin Power & Utilities Corp. Announces 2017 First Quarter Financial Results ...
About this update from Algonquin Power & Utilities Corp.
[{"type":"text","content":"\n\n\n\nAlgonquin Power & Utilities Corp. Announces 2017 First Quarter Financial Results\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prnml40{\nMARGIN-LEFT:3.33em\n}\n\n\n\n\n\n\nAlgonquin Power & Utilities Corp. Announces 2017 First Quarter Financial Results\nCanada NewsWire\nOAKVILLE, ON, May 11, 2017\n\n\n\nOAKVILLE, ON, May 11, 2017 /CNW/ - Algonquin Power & Utilities Corp. (TSX: AQN, NYSE: AQN) (\"APUC\") today announced financial results for the first quarter ended March 31, 2017.\n\nFirst Quarter Financial Highlights\n\nAPUC recorded strong first quarter financial results compared to the same period last year, primarily as a result of the acquisition of The Empire District Electric Company (\"Empire\"):\n\n\nReported revenue was $557.9 million in the first quarter of 2017, as compared to $341.7 million for the same period in 2016.\nReported net earnings attributable to shareholders was $26.0 million or $0.07 per share in the first quarter of 2017, as compared to net earnings of $42.0 million or $0.15 for the same period in 2016.\nReported cash provided by operating activities was $83.8 million in the first quarter of 2017, as compared to $53.4 million for the same period in 2016.\nAdjusted Net Earnings1 of $88.1 million or $0.25 per share were reported in the first quarter of 2017, as compared to Adjusted Net Earnings of $56.1 million or $0.21 per share for the same period in 2016.\nAdjusted Earnings Before Interest, Taxes, Depreciation & Amortization (\"Adjusted EBITDA\"1) of $254.8 million were reported in the first quarter of 2017, as compared to $147.9 million for the same period in 2016.\nAdjusted Funds from Operations1 of $208.9 million were reported in the first quarter of 2017, as compared to $121.8 million for the same period in 2016.\n\nFirst Quarter Highlights\n\n\nOn January 1, 2017, APUC successfully completed the acquisition of Empire, a Joplin, Missouri based regulated electric, gas, and water utility that serves approximately 218,000 customers in Missouri, Kansas, Oklahoma, and Arkansas.  With the completion of the acquisition, AP...