Algonquin Power & Utilities Corp. named Chris Huskilson as its chief executive as it reported a loss in its latest quarter.

Huskilson has been interim CEO since August 2023.

The power utility, which keeps its books in U.S. dollars, says its loss attributable to shareholders amounted to US$89.1 million or 13 cents US per share for the quarter ended March 31.

The result compared with a profit attributable to shareholders of US$270.1 million or 39 cents US per share in the same quarter last year.

Revenue for the quarter totalled US$737.1 million, down from US$778.6 million in the first quarter of 2023.

On an adjusted basis, Algonquin says it earned 14 cents US per share in its latest quarter compared with an adjusted profit of 17 cents US per share a year earlier.

This report by The Canadian Press was first published May 10, 2024.