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OAKVILLE, Ontario (AP) _ Algonquin Power & Utilities Corp. (AQN) on Thursday reported third-quarter profit of $115.8 million.

The Oakville, Ontario-based company said it had net income of 23 cents per share. Earnings, adjusted for non-recurring gains, came to 14 cents per share.

The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 13 cents per share.

The utility operator posted revenue of $365.6 million in the period.

Algonquin Power & Utilities shares have increased 34% since the beginning of the year. The stock has climbed 28% in the last 12 months.


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