AQN · Algonquin Power & Utilities Cor

Algonquin Power & Utilities Corp. released unaudited interim condensed consolidated financial statements for Q1 2026, showing revenue growth of 14.4% to $792.4 million, primarily from regulated electricity distribution up 12.7% to $372.2 million and natural gas distribution surging 22.6% to $302.0 million, reflecting rate adjustments and higher volumes. Operating income edged up to $180.8 million despite elevated expenses including operating costs at $243.0 million and purchased gas at $153.0 million. Net earnings from continuing operations declined to $67.6 million from $77.5 million, with total net earnings at $68.1 million versus $78.9 million prior year, attributable to common shareholders at $83.6 million or $0.11 per share after preferred dividends. Management commentary in Exhibit 99.5 highlights regulatory wins including Missouri's $97 million phased revenue increase for Empire District Electric, California's $48.6 million for CalPeco Electric retroactive to 2025, Massachusetts' $45.3 million for New England Gas, and Arizona settlement pending. Regulated Services drove $119.4 million in net earnings, down slightly due to weather impacts at Empire (-$11.9 million), offset by rate adjustments. Hydro Group earnings fell to $2.1 million from a $13.4 million tax recovery last year. Corporate losses narrowed to $38.4 million, aided by non-recurrence of FX losses. Balance sheet remains stable at $14.0 billion total assets, with cash up to $55.5 million and debt at $6.7 billion. Operating cash flow of $42.7 million supported $129.0 million capex. Q2 dividend of $0.0650 per common share declared, payable July 15, signals capital return continuity amid transition to pure-play utility post-2025 renewables sale.