06:59 AM EDT, 05/09/2025 (MT Newswires) -- Algonquin Power & Utilities ( AQNB ) on Friday said its first-quarter adjusted net earnings rose 39% as it recovered income tax related to the sale of its renewable energy business.

Adjusted net earnings climbed to US$111.6 million, or US$0.14 per share, from US$80.1 million, or US$0.11 per share. The result beat the US$0.10 earnings per share consensus estimate compiled by FactSet.

The Regulated Services Group also contributed to the earnings increase with the implementation of new rates at several electric, water and gas utilities, the company said.

Algonquin plans to hold a meeting with investors on June 3 that will include the company's financial outlook.