ATCO Reports Record Earnings in 2011

ATCO LogoThis week ATCO Ltd. reported record earnings for 2011 led by worldwide increased activity for ATCO Structures & Logistics, higher earnings in ATCO Power and additional infrastructure investment in the utilities to support Alberta growth. Earnings attributable to Class I and Class II Shares were $327 million ($5.65 per share) and Adjusted Earnings were $330 million for the year ended Dec. 31, 2011, compared to $281 million ($4.83 per share) and $296 million, respectively, in 2010. Fourth quarter earnings were also higher in 2011 compared to 2010 for similar operating reasons. Year-over-year earnings increased $30 million to $102 million ($1.76 per share compared to $1.25 per share) and Adjusted Earnings increased $3 million to $83 million. The company reports in 2011, ATCO Structures & Logistics had an exceptionally strong year as rental activity increased and manufacturing expanded to address growth in demand for modular structures and services, especially new workforce housing needs in the resource-rich regions of Australia, Canada, and South America. Australia was particularly strong with three major workforce housing complexes associated with liquefied natural gas projects. ATCO operates on five continents delivering temporary and permanent workforce modular housing worldwide, often to remote locations.

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