Algonquin Power & Utilities Corp. · TSX:AQN
Algonquin Power & Utilities — Q1 2025 Earnings Presentation
20 slides from Algonquin Power & Utilities's earnings presentation, May 9, 2025
Slide 1: Q1 2025 Earnings Conference Call
Q1 2025 Earnings Conference Call May 9, 2025 | 8:30 a.m. ET
Slide 2: Forward-Looking Statements
Forward-Looking Statements Certain written statements included herein and/or oral statements made in connection with the presentation contained herein constitute “forward-looking information” within the meaning of applicable securities laws in each of the provinces and territories of Canada and the
Slide 3: Today's Agenda and Speakers
Agenda Today’s 1.Introductory remarks 2.Business Highlights Speakers 3.Operational highlights 4.Financial results 5.Closing remarks Rod West Brian Chin Sarah MacDonald Chief Executive Officer Interim Chief Financial Officer and Chief Transformation Officer Vice President, Investor Relations Algonqui
Slide 4: Business Highlights
Q1 2025 Earnings Conference Call Business Highlights 4
Slide 5: First Quarter Highlights
First Quarter Highlights YoY increases in Net Earnings and Adj. Net EPS1 New CEO engagement with key stakeholders Credit metrics healthy following renewables sale On track to deliver 90-day outlook update 1. Please see “Non-GAAP Financial Measures” on page 2 of this presentation, and Appendix - Non-
Slide 6: Operational Highlights
Q1 2025 Earnings Conference Call Operational Highlights 6
Slide 7: Rate Case Update
Rate Case Update1 Utility Jurisdiction Rate Request Authorized Increase Date of Rate Implementation BELCO Bermuda $59.1 million $33.6 million2 Aug 1, 2024, retroactive to Jan 1, 2024 New York Water New York $39.7 million $38.6 million2 Sep 1, 2024, retroactive to Apr 1, 2024 Completed Granite State
Slide 8: Financial Update
Q1 2025 Earnings Conference Call Financial Update 8
Slide 9: Financial Performance
Financial Performance Three Months Ended March 31 All figures are in $ millions except per share information 2025 2024 Variance Net Earnings for Regulated Services Group 134.6 93.8 43% Net Earnings for Hydro Group 15.9 2.5 536% Net Earnings for Corporate Group (55.1) (153.1) 64% AQN Net Earnings 95.
Slide 10: Adjusted Net EPS Drivers
Adjusted Net EPS1 Drivers Q1 2024 Adjusted Net EPS1 (including renewables) $0.14 Sale of renewable energy business (0.03) Implementation of new utility rates and year-over-year demand 0.03 Interest expense deleveraging, net of funding needs 0.02 Non-recurring items (depreciation orders and hydro tax
Slide 11: Key Credit Adjustment Figures
Key Credit Adjustment Figures Q1 debt $6.3 billion S&P and Fitch selected debt adjustments: Less: Equity credit 50% of $1.4 billion hybrids $700 million Less: Empire securitization $300 million Add: Preferred equity 50% of $180 million $90 million Algonquin Power & Utilities Corp. | Q1 2025 Earnings
Slide 12: Save the Date: Investor Update Call
Save the Date: Investor Update Call When Tuesday, June 3, 2025 1:30 p.m. (Eastern Time) Details Toll-Free Dial-in: 1-800-715-9871 Local Dial-in: (647) 932-3411 Conference ID: 7105211 Webcast: https://edge.media-server.com/mmc/p/6hxz6o7y Algonquin Power & Utilities Corp. | Q1 2025 Earnings Conference
Slide 13: Closing Remarks
Q1 2025 Earnings Conference Call Closing Remarks 13
Slide 14: Q&A
Q1 2025 Earnings Conference Call Q&A 14
Slide 15: Appendix
Q1 2025 Earnings Conference Call Appendix 15
Slide 16: Our Service Footprint
Our Service Footprint Providing regulated electric, natural gas, water, and wastewater utility services to over 1 million customer connections. Legend Electric distribution / generation system Gas distribution system Water distribution / wastewater treatment system Algonquin Power & Utilities Corp.
Slide 17: Utility by Jurisdiction & Commodity
Utility by Jurisdiction & Commodity Rate base & ROE by major jurisdiction and commodity Facility 2023A Rate Base ($mm) 2024A Rate Base ($mm) Latest Authorized ROE Empire Electric $2,958 $3,292 9.3% California Electric and Water $756 $798 9.8% New York Water $491 $541 9.1% New Hampshire Gas $498 $523
Slide 18: Rate Base View by Commodity
Rate Base View by Commodity1 Millions 4,800 4,400 NH 4,000 CA 3,600 Bermuda 3,200 2,800 2,400 2,000 NY Other (AR, MO, TX, IL) 1,600 MO1 NB 1,200 GA AZ MA CA 800 MO2 Chile 400 NH NY 0 Electric Gas Water 1. Includes some assets in Kansas, Oklahoma and Arkansas. Data as at December 31, 2024. 2. Include
Slide 19: Non-GAAP Financial Measures
Non-GAAP Financial Measures Reconciliation of Adjusted Net Earnings to Net Earnings The following table is derived from and should be read in conjunction with the consolidated statement of operations. This supplementary disclosure is intended to more fully explain disclosures related to Adjusted Net
Slide 20: Corporate Information and Contact Information
Corporate Information Head Office Greater Toronto Area, Ontario Toronto Stock Exchange AQN, AQN.PR.A, AQN.PR.D New York Stock Exchange AQN, AQNB Shares Outstanding* 767,746,620 Share Price* $5.14 Market Capitalization* $3.9 B Common Share Dividend** $0.26 per share annually * Shares outstanding, clo
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