Algonquin Power & Utilities Corp. · TSX:AQN
Algonquin Power & Utilities — Q3 2022 Earnings Presentation
21 slides from Algonquin Power & Utilities's earnings presentation, Nov 11, 2022
Slide 1: Q3 2022 Earnings Conference Call
Q3 2022 Earnings Conference Call November 11, 2022 8:00 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: Speakers and Agenda
Speakers and Agenda Arun Banskota Darren Myers Amelia Tsang President and Chief Financial Officer Vice President, Chief Executive Officer Investor Relations Introductory Remarks…………….……………….................................................. Amelia Tsang Q3 2022 Key Updates……………..……...................
Slide 4: Key Updates
Q3 2022 Earnings Conference Call Key Updates
Slide 5: Key Updates
Key Updates ✓ Mixed Financial Results • Reported Q3 year-over-year Adjusted EBITDA1 growth • Q3 2022 earnings below expectations • Results impacted by increasing interest rates and renewable energy project delays ✓ Strong Business Fundamentals • Significant growth opportunities within Regulated and
Slide 6: Regulated Services Group - Growth
Regulated Services Group - Growth • Kentucky Power Acquisition update • Acquisition agreement amendment entered into on September 29, 2022 • Reduction to the purchase price from $2.846 billion to $2.646 billion • Closing expected to occur in January 2023 Algonquin Power & Utilities Corp. | Q3 2022 E
Slide 7: Renewable Energy Group - Growth
Renewable Energy Group - Growth Solar Projects Site Preparation Panels Installed Community Solar 16 MW 80% 60% New Market Solar – Phase 1 35 MW 100% 70% New Market Solar – Phase 2 65 MW 100% 2022/2023 (expected) Chevron – Hayhurst, TX1 25 MW 75% 2022/2023 (expected) Chevron – Hayhurst, NM1 20 MW 100
Slide 8: Regulated Services Group – Operational Excellence
Regulated Services Group – Operational Excellence • Safety and reliability key priorities • Focus on safety and preparedness for weather events • Effective response by Bermuda electric team following Hurricane Fiona • Improving customer experience as measured by JD Power • Q3 JD Power score of 702;
Slide 9: Three Pillar Foundation – Sustainability
Three Pillar Foundation – Sustainability • Committed to environmental, social and governance values • ESG included in AQN’s corporate strategy and operations • 2022 Sustainability Report • Published on November 7, 2022 • Third party verification of Scope 1 and 2 emissions data for a third year in a
Slide 10: Financial Performance
Q3 2022 Earnings Conference Call Financial Performance
Slide 11: Financial Performance
Financial Performance Three Months Ended September 30 All figures are in $ millions except per share data 2022 2021 Variance Revenue 666.7 528.6 26% Net earnings (loss) attributable to shareholders (195.2) (27.9) (600)% Per share (0.29) (0.05) (480)% Cash provided by operating activities 102.9 174.7
Slide 12: Financial Update – Capital Plan
Financial Update – Capital Plan • Expected capital deployment of $1.55-$1.74 billion in 2022 • ~$1.3 billion has been invested YTD as of end Q3 2022: • $609 million deployed for closing of Liberty New York Water • Over $200 million of capital invested into organic investments in Q3 2022 • Strong ava
Slide 13: Advancing our Strategic Plan
Q3 2022 Earnings Conference Call Advancing our Strategic Plan
Slide 14: Advancing our Strategic Plan
Advancing our Strategic Plan 1 2 3 Progress on Kentucky Inaugural asset recycling Operational discipline Power Acquisition initiative and profitable growth • Expected to close January 2023 • Signed contract with InfraRed • Expecting pressure from • Acquisition complements Capital Partners increasing
Slide 15: Concluding Remarks
Concluding Remarks Continue to execute on the Company’s Three strategic pillars provide key Strive to create long-term shareholder robust construction program foundation as we continue to build the value through delivery of earnings and business dividend growth Robust investment pipeline and three p
Slide 16: Q&A
Q&A _ Algonquin fh, Liberty”
Slide 17: Appendix
Q3 2022 Earnings Conference Call Appendix
Slide 18: Non-GAAP Financial Measures
Non-GAAP Financial Measures Reconciliation of Adjusted EBITDA 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 EBITDA an
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: Non-GAAP Financial Measures
Non-GAAP Financial Measures Reconciliation of Adjusted Funds from Operations to Cash Provided by Operating Activities The following table is derived from and should be read in conjunction with the consolidated statement of operations and consolidated statement of cash flows. This supplementary discl
Slide 21: 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, AQNA, AQNB, AQNU Shares Outstanding* 683,436,230 Share Price* $11.06 Market Capitalization* $7.6 B Dividend** $0.7233 per share annually * Shares outstanding, c
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