Algonquin Power & Utilities announced plans to redomicile from Canada to Delaware with a new Chicago headquarters while reporting lower second-quarter earnings. GAAP net earnings fell to $4.9 million from $14.8 million a year earlier, and adjusted net earnings dropped to $29.2 million from $33.6 million. The company cited $25.7 million in favorable items in 2025 that did not repeat, a $17.2 million write-down tied to a California wildfire cost proceeding, and higher interest and operating expenses. Regulatory wins included $97 million in annualized revenue adjustments approved by Missouri and an $8.8 million adjustment in Kansas, plus new rate case filings seeking $38.1 million, $8.4 million, and $35.8 million. Management expects shareholder approval of the redomicile in the first half of 2027 and does not expect to issue equity through 2027.
Algonquin Power & Utilities CorpLower Q2 earnings and a write-down tied to wildfire costs, though partially offset by regulatory revenue adjustments.
