Algonquin Power & Utilities Corp. (NYSE:AQN) is one of the best Canadian stocks under $10 to buy now. On May 8, Algonquin Power & Utilities reported Q1 2026 net earnings of $83.1 million, or $0.11 per common share, and adjusted net earnings of $99.6 million, or $0.13 per common share. These figures represent a slight decline from Q1 2025, when the company saw net earnings of $92.8 million and adjusted earnings of $0.14 per share. CEO Rod West attributed the steady performance to the company’s Back-to-Basics strategy, highlighting progress in transitioning Algonquin into a pure-play regulated utility through the advancement of key regulatory proceedings.
The Regulated Services Group earned $119.4 million, benefiting from the approval of several major rate cases. Notable developments included a $48.6 million annualized revenue adjustment for CalPeco Electric in California and a $45.3 million distribution revenue adjustment for New England Gas in Massachusetts. However, these gains were offset by unfavorable weather conditions at Empire District Electric and higher operating expenses related to gas safety initiatives and labor. Meanwhile, the Hydro Group saw a drop in earnings to $2.1 million, due to the non-recurrence of a one-time tax recovery recorded in the previous year.
High-voltage power lines. Electricity distribution station. high voltage electric transmission tower. Distribution electric substation with power lines and transformers.
Algonquin’s Corporate Group narrowed its net loss to $38.4 million, aided by the absence of foreign exchange losses that impacted the prior year’s results. The company continues to incur restructuring costs associated with its strategic transformation but remains focused on financial discipline. After the quarter’s end, Algonquin Power & Utilities Corp. (NYSE:AQN) supported its liquidity by closing a $1.15 billion senior unsecured syndicated facility, which may be used to refinance existing debt maturing in June.
Algonquin Power & Utilities Corp. (NYSE:AQN) is a Canadian‑based regulated utility company delivering electricity, natural gas, water, and wastewater services to over 1.2 million customer connections across North America, Bermuda, and Chile through its Liberty Utilities and related subsidiaries.
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