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ATCO REPORTS THIRD QUARTER 2026 EARNINGS
- ACO-X.TO
- EMA
- CU.TO
CALGARY, AB, Nov. 6, 2026 /CNW/ — ATCO Ltd.(TSX: ACO.X)
ATCO Ltd. (ATCO or the Company) today announced third quarter 2026 adjusted earnings (1) of $112 million ($1.00 per share), which were $9 million ($0.08 per share) higher compared to $103 million ($0.92 per share) in the third quarter of 2025.
Third quarter 2026 earnings attributable to Class I non-voting and Class II voting shares reported in accordance with International Financial Reporting Standards (IFRS earnings) were $83 million ($0.74 per share), which were $2 million ($0.02 per share) lower compared to $85 million ($0.76 per share) in the third quarter of 2025.
On October 6, 2026, ATCO, Canadian Utilities Limited (Canadian Utilities), and Emera Incorporated (Emera) announced a transformational agreement to create a Canadian utility and energy infrastructure powerhouse. Emera and Canadian Utilities will combine in a merger of equals to form one of the 20 largest utilities in North America.
In connection with the transaction, ATCO will spin-out its industrial services businesses, into “New ATCO”, focused on housing, defence, and other investments, including ports and retail energy. New ATCO will emerge as a new publicly-traded company with a clear growth agenda and distinct investor proposition.
The transaction was approved following a process and comprehensive reviews by all three Boards, including independent Special Committees for ATCO and Canadian Utilities, supported by independent financial and legal advice. Completion of the transaction is subject to the satisfaction of customary conditions, including applicable securityholder, court, stock exchange and regulatory approvals. The transaction is expected to close in the third or fourth quarter of 2027. While the transaction progresses, it remains business as usual for Emera, ATCO and Canadian Utilities and their employees. The companies remain focused on customers, employees, safety, reliability and operations.
ATCO Structures continued to grow its market presence through strategic organic initiatives and investments. Recent awards demonstrate the diversity of geographies and industries served by ATCO Structures:
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Completed manufacturing of all phase 1 units on schedule and commenced site work under the $179 million contract with Perpetua Resources Corp. to supply and install a 1,052-person dormitory lodge and office facilities in support of the Stibnite Gold project located near Yellow Pine, Idaho.
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Awarded $55 million of sale and lease contracts in the US, comprising over 280 modular units supporting technology and data centre construction in Idaho and Texas, gold mining in Nevada and Washington, and energy projects in Louisiana.
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Awarded $54 million of sale and lease contracts in Canada, comprising over 120 modular units supporting energy infrastructure, healthcare, public infrastructure development and mining projects in Western and Central Canada. Additionally, ATCO Structures received notices of award and limited notices to proceed for affordable housing and mining projects in Western Canada with an expected combined contract value of $50 million.
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Awarded $160 million of sale and lease contracts in Australia, comprising over 450 modular units supporting energy and mining projects in Western Australia and mining projects in Queensland.
