The following is a summary of the Algonquin Power & Utilities Corp. (AQN) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Algonquin Power & Utilities Corp closed financings worth approximately $2.3 billion in Q1 2024.

• Net utility and energy sales were up 5.7% year over year, reaching $519.9 million.

• Adjusted EBITDA was $344.3 million.

• Adjusted net earning was $95.6 million, a decrease from the $119.9 million reported last year.

• The adjusted net earnings per share stand at $0.14, an 18% drop year over year.

Business Progress:

• The company is executing the sale of its renewables business to focus solely on the regulated business model.

• Efforts continue on the transition towards a pure-play regulated strategy.

• There was year-over-year growth in operating profits and net utility sales at the regulated division.

• The enterprise IT platform was fully deployed to simplify business operations.

• 44 megawatts were added to their net economic ownership through the purchase of the remaining 50% equity interest in Sandy Ridge II Wind Facility.

• There will be an investor update on the company's direction by the end of this year or early next year.

• The renewables business was on target for the quarter.

More details: Algonquin Power & Utilities IR

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.