Algonquin Reports Drop in Profits and Increase in Interest Expenses

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Algonquin,Profits,Renewable Energy

Algonquin reported a $5 million drop in profits from its renewable energy assets in the third quarter. The company also saw a $19.2 million increase in interest expenses. The CEO expects to hit the lower-end of the fiscal 2023 earnings guidance. Toronto-listed shares fell 1.62% after the announcement.

Algonquin reported a $5 million drop in profits from its renewable energy assets in the third quarter. The company also saw a $19.2 million increase in interest expenses. The CEO expects to hit the lower-end of the fiscal 2023 earnings guidance.

Toronto-listed shares fell 1.62% after the announcement.

 

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