Revenue for the quarter climbed 8.6% to 914 million Canadian dollars, up from 842 million during the same period last year. While adjusted per-share earnings reached 0.51 Canadian dollars—surpassing the 0.48 estimate from analysts polled by FactSet—the company noted that inflation indexing and increased customer rates at ATCO Gas Australia provided significant support for these results.
In section Market Quotes
Canadian Utilities Sees Earnings Growth Amid Infrastructure Expansion
Canadian Utilities reported a second-quarter profit of 128 million Canadian dollars, marking an increase from 111 million a year ago. The utility provider, majority-owned by ATCO, attributed the gains to higher flow-through revenue in gas and electricity distribution alongside consistent growth in its underlying rate base.
Operational momentum continues with the Alberta Utilities Commission recently greenlighting a 2.9 billion Canadian dollar natural gas infrastructure project. This development includes a new pipeline serving the Fort Saskatchewan area and a dedicated compressor station. These efforts follow the June completion of a transmission line project, developed in partnership with AltaLink, designed to distribute power from central east Alberta across the province.
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