The following is a summary of the ATCO Ltd. (ACLLF) Q1 2024 Earnings Call Transcript:
Financial Performance:
ATCO reported adjusted earnings of $148 million in Q1 2024, an 8% increase compared to the same period in the previous year. This was mainly due to strong performances in the company's structures business and the Alberta utility businesses.
ATCO Structures reported adjusted earnings of $24 million in Q1, a growth of over 25% from the same quarter of the previous year.
Business Progress:
ATCO has experienced an increase in allowable ROEs from 8.5% to 9.28% across Alberta-based utilities and expects continued growth in 2024.
ATCO Structures anticipates growth opportunities in high-growth markets like residential housing and permanent modular construction applications.
With the ARM housing acquisition, the residential housing segment and space rentals business are predicted to continue to stimulate growth for ATCO Structures.
ATCO has a strong pipeline of real projects in Australia, Canada, and the United States, which are expected to generate additional opportunities and future growth.
More details: ATCO LTD IR
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