ATCO today announced first quarter 2021 adjusted earnings of
Higher adjusted earnings were mainly due to workforce housing sales and rental activity and higher space rental activity in ATCO Structures, as well as additional
Earnings attributable to Class I and Class II Shares were
RECENT DEVELOPMENTS
ATCO Structures
- Awarded a
$44 million contract for the supply of a 450-person camp forPretium Exploration Inc.'s Brucejack operations inNorthwest British Columbia . Detailed engineering work has commenced with manufacturing and site work expected to begin in the second quarter of 2021. Installation work is expected to be complete by the end of 2021. - Completed installation of a 450-person camp that had been previously awarded on a
$12 million rental contract for 31 months. The project will support the rebuild and expansion of the China Lake Military Base inSouthern California . The military base was damaged by two major earthquakes inJuly 2019 .
Canadian Utilities
- Filed an application with the
Alberta Utilities Commission to postpone ATCO's electricity and natural gas distribution utility rate increases for 2021 and collect the deferred amounts beginning in 2023. This application aligns with our long-standing practice of supporting the communities we have the privilege to serve. The current economic situation inAlberta , including hardships faced by customers due to the COVID-19 pandemic, is the rationale for the rate freeze.
Corporate
- Declared a second quarter dividend of
44.83 cents per share or$1.79 per Class I Non-Voting and Class II Voting Share on an annualized basis.
This news release should be read in concert with the full disclosure documents. ATCO's consolidated financial statements and management's discussion and analysis for the quarter ended
With approximately 6,200 employees and assets of |
Investor & Analyst Inquiries:
Director, Investor Relations & External Disclosure
T: 403-292-7879 C: 403-828-2908
Media Inquiries:
Senior Manager, Corporate Communications
T: 587-228-4571
Forward-Looking Information:
Certain statements contained in this news release may constitute forward-looking information. Forward-looking information is often, but not always, identified by the use of words such as "anticipate", "plan", "estimate", "expect", "may", "will", "intend", "should", and similar expressions.
Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information.
The Company's actual results could differ materially from those anticipated in this forward-looking information as a result of regulatory decisions, competitive factors in the industries in which the Company operates, prevailing economic conditions (including as may be affected by the COVID-19 pandemic), and other factors, many of which are beyond the control of the Company.
The Company believes that the expectations reflected in the forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking information should not be unduly relied upon.
Any forward-looking information contained in this news release represents the Company's expectations as of the date hereof, and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable securities legislation.
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