Algonquin Power & Utilities (NYSE:AQN) reported a significant financial turnaround for fiscal 2025 on Friday, transitioning from a prior-year loss to a net profit of $208 million.
The Oakville, Ontario-based company posted fourth-quarter net earnings of $29.4 million, or 4 cents per share, compared to a net loss of $110.2 million in the same period of 2024.
Adjusted net earnings for the quarter reached $47.2 million, or 6 cents per share, meeting analyst expectations.
The recovery was anchored by the company's Regulated Services Group, which saw full-year net earnings jump 35% to $351 million.
This growth was driven by new rate cases and infrastructure investments across its water, electric, and natural gas modalities.
The results come as Algonquin nears the completion of its strategic transition into a pure-play regulated utility, following the announced $2.5 billion sale of its renewable energy business to LS Power.
The company ended the year with improved per-share metrics, posting full-year adjusted earnings of 34 cents, up from 30 cents in 2024.