Atco Ltd (OTCPK:ACLTF)

$ 34.51 0.1553 (0.45%) Market Cap: 3.60 Bil Enterprise Value: 14.12 Bil PE Ratio: 14.49 PB Ratio: 1.25 GF Score: 73/100

Q3 2024 Atco Ltd Earnings Call Transcript

Nov 14, 2024 / 05:00 PM GMT

Release Date Price: $34.71

Transcript

Key Points

Positve

Atco Ltd (ACLLF) achieved adjusted earnings of $91 million in Q3 2024, marking a 12% increase from the previous year.
The Canadian utilities segment showed strong performance, driven by an increase in the allowable ROE from 8.5% in 2023 to 9.28% in 2024.
Non-regulated assets contributed to growth, particularly through increased demand and strong seasonal spreads in natural gas storage.
Atco Structures delivered its ninth consecutive quarter of year-over-year adjusted earnings growth, with a notable increase in global space rental activity.
The acquisition of NRB Modular Solutions is expected to enhance Atco Structures' manufacturing capabilities and support long-term growth strategy.

Negative

Adjusted earnings for Structures and Logistics were modestly lower compared to last year due to a provision for bad debt at Atco Frontec.
The reset in utilities' allowable ROE to 8.97% for 2025 is expected to moderate earnings growth in the utilities segment next year.
There is a noted downward trend in global workforce housing and fleet performance, attributed to the conclusion of a long-term contract.
The Frontec business faced headwinds, impacting its earnings contribution and raising questions about its future growth potential.
The company's growth strategy may require balancing between organic growth and potential inorganic opportunities, which could introduce additional risks.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

ACOx.TO - Atco Ltd
Q3 2024 Atco Ltd Earnings Call
Nov 14, 2024 / 05:00PM GMT

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Presentation
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Unidentified_1 [1]
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Welcome to the ACO Limited third quarter, 2024 results conference call and webcast. 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 to join the question queue. You may press star then one on your telephone keypad. Should you need assistance during the conference call? You may signal an operator by pressing star then zero.

I would now like to turn the conference over to Mr Colin Jackson, senior Vice President of Financial Operations. Please go ahead Mr Jackson.

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Unidentified_2 [2]
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