07:02 AM EDT, 05/11/2023 (MT Newswires) -- Algonquin Power & Utilities (AQN) reported Q1 adjusted net earnings Thursday of $0.17 per share, down from $0.21 a year earlier.
Analysts polled by Capital IQ expected $0.16.
Revenue for the quarter ended March 31 was $778.6 million, compared with $733.2 million a year earlier.
Analysts surveyed by Capital IQ expected $733.7 million.
For 2023, the company said it maintained its adjusted net earnings outlook of $0.55 to $0.61 per share. Analysts surveyed by Capital IQ expect $0.58.
Separately, the company said it maintained its quarterly dividend at $0.1085 per share, payable on July 14 to shareholders of record on June 30.
Additionally, the company said its board started a strategic review of its Renewable Energy Group, which consists of its non-regulated operating and development power generation assets, to assess a range of alternatives. There can be no assurance that the review will result in any transaction or execution of any strategic alternative, the company said.