Algonquin Announces Agreement to Sell Ownership Stake in Chilean Utility

Algonquin Power & Utilities Corp. (AQN) is executing a U.S. redomicile, improving operational efficiencies, and investing $3.2B in capital through 2028. The company reported improved financials in 2025, major rate case wins, and a strong balance sheet, supporting continued dividend payments.

Algonquin Power & Utilities (AQN) agreed to sell its 64% stake in Chilean water utility Suralis for $126.5M, with a potential $1.5M earnout. Proceeds will fund debt reduction and capital investments. The sale aligns with AQN's strategy to simplify its portfolio and focus on regulated utility operations. The transaction is expected to close in the next two quarters, subject to approvals.

TD Cowen upgraded Gibson Energy Inc. (GEI-T) to $35, citing strong crack spreads and marketing segment performance. RBC expects Dollarama Inc. (DOL-T) to report solid Q2 results driven by consumer value-seeking behavior. National Bank Financial views Algonquin Power & Utilities Corp.'s (AQN-T) asset sale positively for balance sheet improvement. TD Cowen sees strong growth potential for Groupe Dynamite Inc. (GRGD-T).

Algonquin Power & Utilities (AQN) reported Q2 2026 adjusted net earnings of $29.2 million and adjusted EPS of $0.04. GAAP net earnings were $4.9 million. The company discussed Missouri and Kansas rate approvals, California WEMA wildfire recovery (75% requested), and a $1.15 billion Liberty Utilities debt issuance. It also outlined plans to redomicile to Delaware and move HQ to Chicago.

Algonquin Power & Utilities Corp. (AQN) said it plans to move its headquarters to Chicago as part of a proposed US redomiciliation, while keeping a presence in Oakville. The company linked the plan to reducing cross-border tax inefficiencies and improving its financial profile. Announced with Q2 results: revenue rose to $543.9M, but headline net earnings fell to $4.9M from $14.8M, mainly due to a $17.2M non-cash write-off. Shareholder approval is expected in H1 2027.

Algonquin Power & Utilities Corp. (AQN) said it plans to move its corporate headquarters from Oakville, Ontario to Chicago to align with its mostly U.S. operations and broaden its investor base. Shareholder approval is sought in H1 2027. The company reported Q2 net earnings of US$4.9M, down 67% y/y, and shares fell to $7.94.