OAKVILLE, Ontario (AP) — OAKVILLE, Ontario (AP) — Algonquin Power & Utilities Corp. (AQN) on Friday reported a fourth-quarter loss of $186.4 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Oakville, Ontario-based company said it had a loss of 24 cents. Earnings, adjusted for non-recurring costs and to account for discontinued operations, were 6 cents per share.
The results missed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 8 cents per share.
The utility operator posted revenue of $584.8 million in the period, which also did not meet Street forecasts. Three analysts surveyed by Zacks expected $625.1 million.
For the year, the company reported a loss of $1.38 billion, or $1.90 per share, swinging to a loss in the period. Revenue was reported as $2.32 billion.
The company's shares closed at $4.79. A year ago, they were trading at $5.98.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AQN at https://www.zacks.com/ap/AQN
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