Atco Ltd. ( (ACLTF) ) has released its Q3 earnings. Here is a breakdown of the information Atco Ltd. presented to its investors.
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ATCO Ltd., a diversified global corporation, operates in essential services sectors including energy, housing, and transportation, with a focus on sustainable energy solutions and infrastructure development.
In its third-quarter earnings report for 2024, ATCO Ltd. announced adjusted earnings of $91 million, marking an increase from $81 million in the same period last year. The company also reported earnings attributable to Class I and Class II shares of $93 million, a slight improvement over $91 million in 2023.
Among key highlights, ATCO Structures completed the acquisition of NRB Limited, a prominent Canadian modular building manufacturer, for $40 million. Additionally, the company secured a $14 million contract to support a mining operation in Western Canada. ATCO Energy Systems filed a regulatory application for the Yellowhead Mainline natural gas project, a major step towards its development. In the hydrogen sector, ATCO EnPower achieved significant milestones, including hydrogen production through two electrolyzers and a partnership with Linde Canada.
Further, ATCO Gas Australia received a favorable decision from the Economic Regulation Authority, approving its gas distribution prices for the next five years, with expected capital expenditure and operating costs outlined. The company incurred $414 million in capital expenditures during the quarter, primarily in regulated utilities.
Looking ahead, ATCO Ltd. remains focused on advancing its strategic projects and maintaining its commitment to innovation and sustainability, as reflected in the company’s ongoing efforts in diverse sectors such as hydrogen development and energy infrastructure.
