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    ACO.X   CA0467894006

ATCO LTD.

(ACO.X)
  Report
Delayed Toronto Stock Exchange  -  04:00 2022-09-23 pm EDT
45.29 CAD   -1.46%
09/23Some 928,000 still without power in Puerto Rico after Fiona
RE
09/23Medical device makers see little impact from Fiona on Puerto Rico operations
RE
09/22One million still without power in Puerto Rico after Fiona
RE
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One million still without power in Puerto Rico after Fiona

09/22/2022 | 07:50am EDT
FILE PHOTO: Aftermath of Hurricane Fiona in Puerto Rico

NEW YORK (Reuters) - An estimated 1 million homes and businesses remain without power in Puerto Rico Thursday morning after Hurricane Fiona hit on Sunday, causing an island-wide power outage for its roughly 3.3 million people.

Hurricane Fiona is now heading toward Bermuda and then eastern Canada as a major hurricane with winds of up to 130 miles per hour (215 kilometers per hour). The storm has killed at least eight people.

Fiona hit Puerto Rico five years after Hurricane Maria knocked out all power on the island in 2017.

Poweroutages.com, which estimates power outages based on utility data, said 1.033 million customers were without service early Thursday based on what it called limited information available from LUMA Energy, which operates Puerto Rico's grid.

There were roughly 1.168 million without power early Wednesday out of 1.468 million total customers, according to Poweroutages.com.

That pace of restoration is much faster than after Maria when almost all 1.5 million customers had no power for a week when the now bankrupt Puerto Rico Electric Power Authority (PREPA) was still operating the grid.

It took PREPA about 11 months to restore power to all customers, but Maria was a much more powerful storm than Fiona.

Maria hit Puerto Rico as a Category 4 hurricane with winds of 155 mph, while Fiona hit as a Category 1 storm with winds of 85 mph.

LUMA Energy said late Wednesday that it had restored service to nearly 376,000 customers. LUMA has said "full restoration could take several days."

LUMA is a joint venture owned by units of Canadian energy firm ATCO Ltd (50%) and U.S. energy contractor Quanta Services Inc (50%).

PREPA still owns much of Puerto Rico's power infrastructure. LUMA won a contract to operate the grid in 2020 and started managing that system in 2021.

(Reporting by Scott DiSavino; editing by David Evans)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
ATCO LTD. -1.46% 45.29 Delayed Quote.6.07%
QUANTA SERVICES -5.12% 128.76 Delayed Quote.18.36%
All news about ATCO LTD.
09/23Some 928,000 still without power in Puerto Rico after Fiona
RE
09/23Medical device makers see little impact from Fiona on Puerto Rico operations
RE
09/22One million still without power in Puerto Rico after Fiona
RE
09/211.2 million customers still without power in Puerto Rico after Fiona
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09/20Puerto Rico power grid no match for Fiona; residents unsurprised
RE
09/20Some 1.3 million customers without power in Puerto Rico after Hurricane Fiona
RE
09/19Explainer-What has happened to Puerto Rico's power grid since Hurricane Maria?
RE
08/31DBRS Confirms Rating on ATCO
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08/31ATCO LTD. : Ex-dividend day for
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08/10TRANCHE UPDATE ON ATCO LTD. (TSX : ACO.X)'s Equity Buyback Plan announced on March 4, 2022..
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Analyst Recommendations on ATCO LTD.
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Financials
Sales 2022 4 810 M 3 546 M 3 546 M
Net income 2022 860 M 634 M 634 M
Net Debt 2022 9 203 M 6 784 M 6 784 M
P/E ratio 2022 12,3x
Yield 2022 4,08%
Capitalization 5 175 M 3 815 M 3 815 M
EV / Sales 2022 2,99x
EV / Sales 2023 2,93x
Nbr of Employees 6 358
Free-Float 66,0%
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Mean consensus OUTPERFORM
Number of Analysts 7
Last Close Price 45,29 CAD
Average target price 51,36 CAD
Spread / Average Target 13,4%
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Managers and Directors
Nancy C. Southern President & Chief Executive Officer
Siegfried Willi Kiefer President & Chief Strategy Officer
Katie J. Patrick Executive VP, Chief Financial & Investment Officer
Alan M. Skiffington Chief Information Officer & Vice President
Sarah J. Shortreed Chief Technology Officer & Executive VP
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