Canada's Algonquin Power Q3 profit rises on favourable weather, rate hikes

Algonquin Power said Q3 results benefited from a $20.4 million favourable weather impact and $11.4 million from approved rate increases, including at CalPeco and Empire Electric Missouri. Results were also affected by $35.4 million in one-time items, mainly non-recoverable costs and accruals related to the Mountain View Fire and a loss on Suralis assets, as well as higher interest and operating expenses. The company completed the sale of its Chilean water utility and did not provide specific financial guidance for the current quarter or full year.