Q: Can you comment on the quarter and if the sell off is warranted?
5i Research Answer:
EPS of 6c beat estimates of 4.6c; revenue of $630.7M beat estimates of $606.8M. The quarter was fine, but AQN cut its guidance for 2027, citing a higher tax rate. The company is working on how to lower taxes, but any plan will not see results until after 2027. Revenue rose 7.8%. EPS guidance for the year is 35c to 37c. Expected tax rate goes to mid-to-high twenties percent from low-to-mid. The sell off we think is warranted on this bad news, but we would expect it to settle in now.