Algonquin Power & Utilities Announces 2016 Fourth Quarter and Year End Financial Results

Algonquin Power & Utilities (TSX:AQN,NYSE:AQN) announced unaudited financial results for Q4 and year ended December 31, 2016. Highlights include a 7 percent increase in annual revenue, as well as a 27 percent increase in annual EBITDA.
As quoted in the press release:

Financial Highlights (Unaudited)

• Annual revenue of $1.096 billion, an increase of 7%
• Annual Adjusted EBITDA¹ of $476.9 million, an increase of 27%
• Annual Adjusted net earnings¹ per share of $0.57, an increase of 24%
• Fourth quarter revenues, Adjusted EBITDA, and Adjusted net earnings per share of $310.2 million, $138.3 million, and $0.18, respectively

Business Highlights

• Receipt of all regulatory approvals for the acquisition of The Empire District Electric Company which closed on January 1, 2017

• Renewable Generation Group adds 360 MW of installed capacity to clean energy portfolio

• Liberty Utilities Group adds nearly 300,000 customer connections with Park Water and Empire acquisitions

• Successful rate case outcomes in 2016 which will increase revenue by a total of U.S. $21.4 million on an annualized basis

Click here for the full press release.