Algonquin Power & Utilities Stock Slumps 19.2% on Interest Rates and Renewable Energy Costs

Algonquin Power & Utilities reported a larger than forecast Q3 adjusted loss and cut its full-year earnings guidance on Friday. The release saw $AQN shares fall 19.2% to its lowest in four-and-a-half years in Friday’s trading. The utility cited challenging macroeconomic conditions and construction delays which it expects will continue into next year. The company said higher interest rates cost it $23.3M during the quarter, and the timing of tax incentives relative to some of its renewable energy projects cost … Continue reading “Algonquin Power & Utilities Stock Slumps 19.2% on Interest Rates and Renewable Energy Costs”