11:44 AM EST, 03/07/2025 (MT Newswires) -- (Adds comment and updates shares.)

Algonquin Power & Utilities ( AQNB ) (AQN.TO, AQN) on Friday said its fourth-quarter adjusted earnings fell, missing analyst estimates.

Adjusted earnings, which exclude most one-time items, dropped to US$45.2 million, or US$0.06 per share, from US$81.3 million, or US$0.12, in the year-prior quarter. The consensus estimate among analysts polled by FactSet expected $0.09 per share.

Revenue was US$584.8 million, down from US$588.2 million. Adjusted EBITDA declined to US$248.6 million from US$262.1 million.

National Bank of Canada reiterated its outperform rating and US$6.25 price target on the company's shares after the news.

"Although Q4 results were a little soft, we believe investor attention will be focused on the outlook for 2025 and the continued progress on cost and revenue optimization," National Bank said.

The company's shares were last seen down $0.40 to $6.43 on the Toronto Stock Exchange.

Price: 6.40, Change: -0.43, Percent Change: -6.30