Algonquin Power & Utilities Corp. (NYSE:AQN) Q4 2018 Earnings Conference Call Transcript

Mar 01, 2019 • 10:00 am ET


Algonquin Power & Utilities Corp. (NYSE:AQN) Q4 2018 Earnings Conference Call Transcript


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Thank you for standing by. This is the conference operator. Welcome to the Algonquin Power & Utilities Corp. Fourth Quarter 2018 and Full Year Results Conference Call. As a reminder, all participants are in listen-only mode and the conference is being recorded. After the presentation, there will be an opportunity to ask questions. (Operator Instructions)

I'd now like to turn the conference over to Christopher Jarratt, Vice Chair of Algonquin Power & Utilities Corp. Please go ahead, Mr. Jarratt.

Christopher Jarratt

Great. Thank you very much. Good morning, everyone, and thank you for joining us on our fourth quarter and full year earnings results conference call. As mentioned, my name is Chris Jarratt, and I'm the Vice Chair of Algonquin Power & Utilities Corp. And joining me on the call today are Ian Robertson, our Chief Executive Officer; and David Bronicheski, our Chief Financial Officer.

We do have a supplemental webcast presentation that accompanies this call and you can access that from our website. Our audited financial statements and the MD&A are also available on our website, SEDAR and on EDGAR.

Before continuing the call, we would like to remind you that our discussion in this call will include forward-looking information and non-GAAP financial measures. And at the end of the call, we will read a not so brief legal notice in respect of both forward-looking information and non-GAAP financial measures.

On the call today, Ian's going to start with the strategic highlights of Q4 as well as our full year 2018. David will follow with a financial performance highlights and then Ian will conclude the prepared portion of the call with an overview of our strategic growth plan for 2019 and beyond. As usual, we will then open the lines up for questions. And as usual, we ask you to restrict your questions to a maximum of two and then re-queue if you have additional questions.

And with that, I'm going to turn things over to Ian to start with the 2018 highlights.

Ian Robertson

Thanks, Chris, and good morning, everyone, and thanks for taking the time to join us today from lovely Oakville, Ontario. It's a solar-friendly sunny but cold day.

We appreciate that the last quarter call, gives us a chance to perhaps pause and reflect on the progress we've made over the entire year. And looking in that rearview mirror, we see a number of corporate achievements supported by another solid year of financial performance. We will then spend some time looking in a bit more detail of our plans for the current year and also longer term as our team works on successful execution against our five-year strategic plan. So, given that this year is our year-end earnings call, and while the quarter itself is important. It's probably more relevant to examine the main elements, which we believe underpin the value of our organization.

So firstly, I am pleased to report that the current businesses delivered strong and stable year-over-year growth in our key financial metrics. Adjusted earnings per share