ATCO Reports Strong Q2 Earnings Growth Driven by Structures and Utility Operations
ATCO Ltd. (TSE:ACO.X) reported second-quarter adjusted earnings of CAD 114 million, or CAD 1.01 per share, representing a 13% year-over-year increase. The growth was primarily driven by strong performance from ATCO Structures and Canadian Utilities segments. ATCO Structures achieved its 16th consecutive quarter of year-over-year earnings growth with adjusted EBITDA rising to CAD 82 million, up 17%. Demand in sectors like data centers, mining, energy, workforce housing, and modular construction supported new contract wins. Management expressed confidence in continued earnings momentum through the second half of the year. ATCO also highlighted long-term opportunities in Canadian defense, Arctic infrastructure, and northern housing, although these areas are still in early stages. Operating cash flow for the quarter surged nearly 70% to CAD 122 million compared to last year.
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