Algonquin Power & Utilities Corp. · TSX:AQN
Algonquin Power & Utilities — Q4 2022 Earnings Presentation
23 slides from Algonquin Power & Utilities's earnings presentation, Mar 17, 2023
Slide 1: Q4 2022 Earnings Conference Call
Q4 2022 Earnings Conference Call March 17, 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 Q4 2022 Key Updates……………..…….......................
Slide 4: Key Updates
Q4 2022 Earnings Conference Call Key Updates
Slide 5: Key Updates
Key Updates ✓ Stable Financial Footing; in line with Revised Guidance • Q4 Adjusted Net Earnings per share1 of $0.22, a 5% increase YoY • 2022 Adjusted Net Earnings per share1 of $0.69, at top end of guidance of $0.66 - $0.69 ✓ Executing on Decisive Actions Presented on January Investor Update Call
Slide 6: Algonquin Power & Utilities Corp. Three Pillars
Algonquin Power & Utilities Corp. Operational Growth Excellence ESG • Focused on future • Reliable delivery • Recognized as a growth trajectory of key services to global leader in and right-sized stakeholders sustainability capital program • Award-winning • Committed to ESG • Opportunities for safet
Slide 7: Regulated Services Group - Growth
Regulated Services Group - Growth • Kentucky Power Acquisition update • On February 14, 2023, AQN filed new application with FERC for approval of the transaction • Closing of transaction remains subject to satisfaction or waiver of certain conditions Algonquin Power & Utilities Corp. | Q4 2022 Earni
Slide 8: Renewable Energy Group - Growth
Renewable Energy Group - Growth 1. Combines multiple projects. 2. Project co-owned with Chevron. 3. Judgmental estimate. Algonquin Power & Utilities Corp. | Q4 2022 Earnings Conference Call
Slide 9: Regulated Services Group – Operational Excellence
Regulated Services Group – Operational Excellence • Recent recognitions for commitment to safety and reliability • EEI Emergency Response Award presented to Bermuda team for restoration efforts following Hurricane Fiona • AGA Leading Indicator Safety Award • AGA Safety Achievement Award • Safety exc
Slide 10: Three Pillar Foundation – Sustainability
Three Pillar Foundation – Sustainability • 2022 Sustainability Report • Published on November 7, 2022 – 2022 ESG Report • Enhanced data of key ESG initiatives • Recent recognitions for ESG initiatives and efforts • Bloomberg Gender Equity Index for 4th straight year • Terra Carta Seal • Globe and Ma
Slide 11: Financial Performance
Q4 2022 Earnings Conference Call Financial Performance
Slide 12: Financial Performance
Financial Performance Three Months Ended Twelve Months Ended December 31 December 31 All figures are in $ millions except per share data 2022 2021 Variance 2022 2021 Variance Revenue 748.0 592.0 26% 2,765.2 2,274.1 22% Net earnings (loss) attributable to shareholders (74.4) 175.6 (142)% (212.0) 264.
Slide 13: Financial Update – Capital Plan
Financial Update – Capital Plan • Expected capital deployment of ~$3.6 billion in 2023 • Inclusive of ~$2.6 billion Kentucky Power Acquisition • Committed to making profitable investments to improve safety, reliability and resiliency • Committed to maintaining BBB investment-grade credit rating • Ra
Slide 14: Advancing our Strategic Plan
Q4 2022 Earnings Conference Call Advancing our Strategic Plan
Slide 15: Advancing our Strategic Plan
Advancing our Strategic Plan 1 2 3 Optimizing Existing Path Forward on Operational Discipline Portfolio of Assets Kentucky Power and Profitable Growth • ~$1 billion of asset sale • New application filed with FERC • ~$3.6 billion in capital announcements targeted in on February 14, 2023 investments e
Slide 16: Concluding Remarks
Concluding Remarks Regulated and Renewables businesses Three strategic pillars continue Strive to create long-term shareholder well positioned to benefit from to provide key foundation for value through delivery of quality decarbonization transformation the Company earnings and dividend growth Prude
Slide 17: Algonquin
_ Algonquin
Slide 18: Appendix
Q4 2022 Earnings Conference Call Appendix
Slide 19: Utility by Facility & Modality
Utility by Facility & Modality Rate Base & Return on Equity (“ROE”) by Major Facility and Modality Facility 2021 Rate Base ($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 $
Slide 20: 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 21: 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 22: 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 23: 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* 688,151,959 Share Price* $7.63 Market Capitalization* $5.3 B Dividend** $0.4340 per share annually * Shares outstanding, cl
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