Latest news with #regulatorystrategy
National Post
a day ago
- Business
- National Post
Algonquin Power & Utilities Corp. Names Noel Black Chief Regulatory and External Affairs Officer
Article content OAKVILLE, Ontario — Algonquin Power & Utilities Corp. (TSX/NYSE: AQN) ('AQN', 'Algonquin' or the 'Company') today announced the appointment of Noel Black as Chief Regulatory and External Affairs Officer, effective June 30. In this newly created role, Mr. Black will lead the Company's regulatory strategy, government and stakeholder relations, and external communications functions. Reporting directly to the Chief Executive Officer, he will drive enterprise strategy and alignment, working closely with regulatory commissions, policymakers, community leaders, and other external stakeholders, to advance Algonquin's pure-play utility objectives. Article content 'Noel brings a rare combination of regulatory fluency, public affairs acumen, and deep stakeholder engagement experience,' said Rod West, Chief Executive Officer of AQN. 'This appointment reflects our commitment to align our stakeholders around Algonquin's customer-first pure-play utility value proposition. Noel has built a distinguished career leading regulatory strategy, customer engagement, and utilities operations, and his expertise will help us better align our services with the needs of our customers, communities, and regulators. Noel's collaborative approach and proven track record of delivering constructive regulatory outcomes will be instrumental as we advance our 'Back to Basics' customer-centric plan—seeking to deliver safe, reliable, and affordable energy and water, while creating customer value and driving performance, innovation, and trust across our four key stakeholder groups.' Article content Mr. Black's experience spans over three decades at Southern Company (NYSE:SO), one of the largest U.S. utilities serving over nine million customers, where he most recently served as Senior Vice President of Federal Regulatory Affairs. Throughout his career at Southern Company and its affiliates, Mr. Black served in a wide range of leadership roles across regulatory policy, governmental affairs, and strategic planning, successfully navigating complex regulatory matters at the federal and state levels, driving forward-looking retail strategies, and building trusted relationships with policymakers, communities, and customers. His deep expertise will directly support the work of AQN's operating utilities. Article content About Algonquin Power & Utilities Corp. and Liberty Article content Algonquin Power & Utilities Corp., parent company of Liberty, is a diversified international generation, transmission, and distribution utility. AQN is committed to providing safe, secure, reliable, cost-effective, and sustainable energy and water solutions through its portfolio of generation, transmission, and distribution utility investments to over one million customer connections, largely in the United States and Canada. AQN's common shares, preferred shares, Series A, and preferred shares, Series D are listed on the Toronto Stock Exchange under the symbols AQN, and respectively. AQN's common shares and Series 2019-A subordinated notes are listed on the New York Stock Exchange under the symbols AQN and AQNB, respectively. Article content Visit AQN at and follow us on @AQN_Utilities. Article content Caution Regarding Forward-Looking Information Article content Certain statements included in this news release constitute ''forward-looking information'' within the meaning of applicable securities laws in each of the provinces and territories of Canada and the respective policies, regulations and rules under such laws and ''forward-looking statements'' within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 (collectively, ''forward-looking statements'). The words 'will', 'expects', 'plans', and 'seeks' (and grammatical variations of such terms) and similar expressions are often intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Specific forward-looking statements in this news release include, but are not limited to, statements regarding the expected impact and outcomes of Noel Black's hiring as Chief Regulatory and External Affairs Officer and the Company's 'Back to Basics' customer-centric plan. These statements are based on factors or assumptions that were applied in drawing a conclusion or making a forecast or projection, including assumptions based on historical trends, current conditions and expected future developments. Since forward-looking statements relate to future events and conditions, by their very nature they require making assumptions and involve inherent risks and uncertainties. AQN cautions that although it is believed that the assumptions are reasonable in the circumstances, these risks and uncertainties give rise to the possibility that actual results may differ materially from the expectations set out in the forward-looking statements. Forward-looking statements contained herein are provided for the purposes of assisting in understanding the Company and its business, operations, risks, financial performance, financial position and/or cash flows as at and for the periods indicated and to present information about management's current expectations and plans relating to the future and such information may not be appropriate for other purposes. Material risk factors and assumptions include those set out in AQN's annual information form and annual management discussion & analysis, each for the year ended December 31, 2024, and management discussion & analysis for the three months ended March 31, 2025, each of which is or will be available on SEDAR+ and EDGAR. Given these risks, undue reliance should not be placed on these forward-looking statements, which apply only as of their dates. Other than as specifically required by law, AQN undertakes no obligation to update any forward-looking statements to reflect new information, subsequent or otherwise. Article content Article content Article content Article content Article content Contacts Article content Investor Inquiries: Article content Article content Alison Holditch Article content Manager, Investor Relations Article content Algonquin Power & Utilities Corp. Article content Article content E-mail: Article content InvestorRelations@ Article content Article content Telephone: (905) 465-4500 Article content Media Inquiries: Article content Article content Stephanie Bose Article content Article content Senior Director, Corporate Communications Article content Article content Algonquin Power & Utilities Corp. 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Yahoo
13-05-2025
- Business
- Yahoo
Southwest Gas Holdings Inc (SWX) Q1 2025 Earnings Call Highlights: Record Net Income and ...
Net Income: Record net income for the quarter. Return on Equity (ROE): Trailing 12-month ROE of 8.2%. Net Income Guidance: Reaffirmed range of $265 million to $275 million for the full year. Rate Base Increase: $600 million increase in authorized rate base in Arizona. Revenue Increase: $80 million revenue increase from Arizona rate case. Customer Growth: Approximately 40,000 new meter sets added over the past 12 months. Cash on Hand: More than $400 million across the enterprise. Liquidity: Over $1 billion of liquidity available. Operating Margin Increase: $38.9 million increase in utility operating margin. O&M Expenses: Slightly lower quarter-over-quarter O&M expenses. Depreciation and Amortization: Increased due to investment in the system. Interest Expense: Increased primarily due to changes in regulatory balances. Capital Investment Plan: $4.3 billion over the next five years. Rate Base Growth: Expected compound annual growth rate of 6% to 8% over the next five years. Warning! GuruFocus has detected 12 Warning Signs with SWX. Release Date: May 12, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Southwest Gas Holdings Inc (NYSE:SWX) achieved record net income for the first quarter of 2025. The company successfully advanced its regulatory strategy with constructive outcomes in Arizona and Great Basin rate cases. Southwest Gas Holdings Inc (NYSE:SWX) added approximately 40,000 new meter sets over the past 12 months, indicating strong customer growth. The company maintained a strong balance sheet with over $400 million in cash and more than $1 billion in liquidity. Southwest Gas Holdings Inc (NYSE:SWX) reaffirmed its 2025 utility net income guidance range of $265 million to $275 million. There was a delay in the earnings announcement due to an issue with Centuri's financial statements. Increased depreciation and amortization expenses were noted due to continued investment in infrastructure. Higher interest expenses were incurred, primarily driven by changes in regulatory balances associated with the PGA mechanism. The company faces uncertainties surrounding the impacts of future economic conditions and regulatory approvals. The separation of Centuri remains contingent on favorable market conditions, which could impact the company's financial strategy. Q: What's the current status of your plans to exit Centuri? Has there been any change to interest levels from potential investors in recent weeks? A: Karen Haller, President and CEO, stated that the plan to separate Centuri remains unchanged. The company is committed to the separation and is monitoring market conditions to decide on the best approach, whether it be a sell-down, exchange, or a combination thereof. The ability to file an S-3 now allows for more flexibility in executing the separation. Q: What are the financial implications of the System Integrity Mechanism (SIM) if the settlement is approved relative to your longer-term EPS growth target? A: Justin L. Brown, Senior VP & General Counsel, explained that the SIM represents about 40% of non-revenue producing infrastructure investment in Arizona. Once approved, the company will provide more clarity on timing and project approvals, which will be reflected in future guidance. Q: The PGA balance has moved substantially in recent quarters. Is there any meaningful impact on your ATM issuance need due to the Nevada proceeding or faster recovery of the PGA balance? A: Robert Stefani, CFO, mentioned that the company has sufficient cash balances to support a rapid return of cash. The need for ATM usage will depend on the form of the next separation step for Centuri, as a sell-down could eliminate the need for ATM usage. Q: Has there been any change to Southwest Gas's internal controls or accounting processes in recent quarters due to the delay in the earnings call? A: Karen Haller clarified that the delay was due to an issue at Centuri, which impacted Southwest Gas as a consolidated entity. There have been no changes in controls or accounting processes at Southwest Gas related to this issue. Q: With the influx of data centers and semiconductor manufacturing in Arizona, what are the incremental CapEx investment opportunities and how are you engaging with regulators for timely recovery and alignment with long-term rate base growth? A: Justin L. Brown stated that existing structures and policies are in place to address these opportunities. While current guidance does not reflect material changes, the company will adjust forecasts as firm commitments arise. Q: Is the Great Basin open season binding, and how much CapEx would be associated with it? A: Justin L. Brown confirmed that the open season is binding and will close at the end of the month. The company will have a better indication of future CapEx changes once the process concludes. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
