Algonquin Power & Utilities Q4 net earnings up

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31 March 2016, Electricity

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Revenue for the fourth quarter ended December 31, 2015 was C$260.3 million, compared to C$259.3 million for the same quarter ended December 31, 2014.

Net earnings from continuing operations for the year ended December 31, 2015 were C$118.5 million, or C$0.43 per share, compared to C$77.8 million, or C$0.32 per share, for the year ended December 31, 2014.

Revenue for the year ended December 31, 2015 was C$1.03 billion, compared to C$941.6 million for the year ended December 31, 2014.

"We are very pleased to be delivering record results from APUC for 2015. Our revenues have crested $1 billion for the first time in our history, our Adjusted EBITDA has grown over 29% and our Adjusted Earnings per Share is at an all-time high of $0.46." commented Ian Robertson, CEO of APUC. "We are excited about our prospects to deliver continued growth in 2016 through our extensive power development initiatives and predictable growth in our regulated utility business, including the recent announcement of our acquisition of The Empire District Electric Company in early February."

Source: MarketLine

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