Algonquin Power & Utilities Corp. · TSX:AQN
Algonquin Power & Utilities — Q1 2023 Earnings Presentation
18 slides from Algonquin Power & Utilities's earnings presentation, May 11, 2023
Slide 1: Q1 2023 Earnings Conference Call
Q1 2023 Earnings Conference Call May 11, 2023 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: Speakers and Agenda
Speakers and Agenda Arun Banskota Darren Myers Brian Chin President and Chief Financial Officer Vice President, Chief Executive Officer Investor Relations Introductory Remarks…………….……………….................................................. Brian Chin Renewables Strategic Review........................
Slide 4: Renewables Strategic Review
Q1 2023 Earnings Conference Call Renewables Strategic Review
Slide 5: Renewables Strategic Review
• AQN assets appear undervalued and the Company’s cost of capital could be reduced • Analysis of whether separating the Renewable Energy Group from the Regulated Services Group could create superior value • Strategic Review Committee created by AQN Board of Directors • External advisors retained, in
Slide 6: Q1 2023 Highlights
Q1 2023 Highlights ✓ Significant Updates for Regulated Services and Renewable Energy Groups • Mutual termination with AEP of Kentucky Power acquisition • Deerfield II Wind Facility achieved full commercial operations • Final rate case orders at California facilities with aggregate revenue increases
Slide 7: Regulated Services Group - Growth
Regulated Services Group - Growth Pending Rate Reviews Regulatory Proceeding Utility Jurisdiction Rate Request Type St. Lawrence Gas New York General Rate Case $4.1 million Pine Bluff Water Arkansas General Rate Case $5.9 million Empire Electric Arkansas General Rate Case $7.3 million New Brunswick
Slide 8: Renewable Energy Group - Growth
Renewable Energy Group - Growth Anticipated Site Panels Status Towards Solar Projects Project Size Preparation Installed Commissioning of Facility3 Community Solar1 13 MW 100% 100% New Market Solar – Phase 1 35 MW 100% 70% New Market Solar – Phase 2 65 MW 100% 0% Chevron – Hayhurst, TX2 25 MW 100% 1
Slide 9: Financial Update
Q1 2023 Earnings Conference Call Financial Update
Slide 10: Financial Performance
Financial Performance Three Months Ended March 31 All figures are in $ millions except per share data 2023 2022 Variance Revenue 778.6 733.2 6% Net earnings attributable to shareholders 270.1 91.0 197% Per share 0.39 0.13 200% Cash provided by operating activities 34.2 166.2 (79)% Adjusted Net Earni
Slide 11: Financial Update – Capital Plan
Financial Update – Capital Plan • Reaffirming 2023 Adjusted Net Earnings per share1 estimate • 2023 Adjusted Net Earnings per share estimated range of $0.55 - $0.612 • Calculated excluding impact of gains or losses on asset sales • Expected capital deployment of ~$1 billion in 2023 • 70% Regulated,
Slide 12: Q&A
Q&A _ Algonquin fh, Liberty”
Slide 13: Appendix
Q1 2023 Earnings Conference Call Appendix
Slide 14: Utility by Facility & Modality
Utility by Facility & Modality Rate Base & ROE by Major Facility and Modality Facility 2021 Rate Base ($mm) 2022 Rate Base ($mm)1 Latest Authorized ROE Empire Electric $2,718 $2,852 9.3% California Electric and Water $554 $616 9.8% New York Water $0 $490 9.1% New Hampshire Gas $435 $490 9.3% Bermuda
Slide 15: 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 16: 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 17: 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 18: 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* 688,592,052 Share Price* $8.40 Market Capitalization* $5.8 B Dividend** $0.4340 per share annually * Shares outstanding, cl
Algonquin Power & Utilities — Q1 2023 Earnings Presentation on 6ix