Algonquin Power & Utilities Corp. Announces Fourth Quarter and Fiscal 2020 Financial Results

Algonquin Power & Utilities Corp.  Announces Fourth Quarter and Fiscal 2020 Financial Results

OAKVILLE, ON, March 4, 2021 / PRNewswire / – Algonquin Power & Utilities Corp. (TSX: AQN) (NYSE: AQN) (“AQN” or the “Company”) today announced its financial results for the fourth quarter and fiscal year ended December 31, 2020. All amounts are in US dollars ( “$ US” or “$”), unless otherwise specified.

“We are pleased to report strong fourth quarter and full year 2020 results, which, despite the challenges of the year due to the COVID-19 pandemic, reflect the year-over-year growth of all of our key financial metrics and several exciting new growth initiatives, ”said Arun Banskota, President and CEO of AQN. “We remain confident that our strong $ 9.4 billion investment plan from 2021 to 2025 will continue to drive growth in earnings and cash flow.”

Fourth Quarter and Full Year Financial Highlights

Annual revenues of $ 1,677.1 million, an increase of 3%;

Annual adjusted EBITDA1 of $ 869.5 million, an increase of 4%;

Adjusted annual net income1 of $ 365.8 million, an increase of 14%;

Adjusted annual net earnings1 per share of $ 0.64, an increase of 2%;

Fourth quarter revenue of $ 492.4 million, an increase of 12%;

Fourth quarter adjusted EBITDA1 of $ 253.1 million, an increase of 10%;

Fourth quarter adjusted net income1 of $ 127.0 million, an increase of 23%; and,

Fourth quarter adjusted net earnings1 per share of $ 0.21, an increase of 5%, in each case on an annual basis.

Key financial information

All amounts are in millions of US dollars, except per share …

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