ATCO reported adjusted third-quarter earnings of C$1.00 per share, above the C$0.96 estimate, as it prepares for a major restructuring tied to its proposed transaction with Emera.
ATCO Ltd. (TSX: ACO.X) reported adjusted earnings of C$1.00 per share for the quarter ended September 30, 2026, beating the estimate by 4.2%. Adjusted earnings rose to C$112 million from C$103 million a year earlier. IFRS earnings fell to C$83 million from C$85 million. The results come as ATCO advances a proposed transaction involving Emera and Canadian Utilities that would reshape its regulated utility and industrial-services businesses.
Recent earnings trend
ATCO Ltd
ACO-X.TO
ACO-X.TO
ATCO Ltd
WealthAwesomeMarket cap
$8.61B
P/E
54.0x
52W high
$86.67
52W low
$51.30
1W change
+2.47%
Beta
0.38
Analyst Price Targets
Based on analyst covering ACO-X · as of Oct 26, 2026
Wall Street analysts forecast ACO-X stock price to rise 8.3% over the next 12 months.
Consensus
Moderately BullishBased on avg. target vs last close (formal rating unavailable for Canadian listings)
Avg. Target
C$92.40
+8.3% Upside
Previously C$91.00 on Oct 9, 2026
Current Price
C$85.30
Last close
Targets are snapshotted when they change. Unchanged figures keep their original date. Not financial advice.
Wealth Awesome Price Forecast
WA ModelStatistical 90-day price range based on ACO-X's historical volatility
30-Day Vol
31.3%
Annualized
90-Day Vol
25.6%
Annualized
Trend (90d)
+50.0%
Annualized drift
90d Mean
C$101.98
Expected price
| Horizon | Expected | 68% Range (1σ) |
|---|---|---|
| 30 trading days | C$90.53 | C$81.28 – C$100.84 |
| 60 trading days | C$96.08 | C$82.49 – C$111.92 |
| 90 trading days | C$101.98 | C$84.60 – C$122.92 |
Methodology: Range is calculated using 30-day realized volatility via geometric Brownian motion (log-normal model). 68% band = ±1σ, 95% band = ±2σ. This is a statistical model, not a prediction. Past volatility does not guarantee future results. Not financial advice.
Analyst coverage: 3 analyst(s) cover this name; upcoming EPS consensus is available.
Beat estimates in 3 of the last 4 comparable quarter(s).
| Fiscal period | Report date | Actual EPS | Estimate | Surprise |
|---|---|---|---|---|
| 2026-12-31 | 2027-02-25 | — | 1.4300 | — |
| 2026-09-30 | 2026-11-06 | 1.0000 | 0.9600 | +4.2% |
| 2026-06-30 | 2026-07-29 | 1.0100 | 0.9900 | +2.0% |
| 2026-03-31 | 2026-05-06 | 1.4700 | 1.4800 | -0.7% |
| 2025-12-31 | 2026-02-26 | 1.3500 | 1.2800 | +5.5% |
| 2025-09-30 | 2025-11-07 | 0.9200 | 0.8300 | +10.8% |
Investor takeaway: The adjusted EPS beat and 9% year-over-year increase are positive, but IFRS earnings declined. ATCO’s share price has also risen substantially, and the proposed transaction is not expected to close until the second half of 2027. Investors should follow the approval process and monitor the performance of both the regulated utility and industrial-services businesses. See the ATCO stock page for more context.
C$1.00 adjusted EPS
ATCO’s adjusted EPS came in C$0.04 above the C$0.96 estimate, a 4.2% beat. It also rose from C$0.92 a year earlier. IFRS earnings were C$0.74 per share, down from C$0.76 in the third quarter of 2025. The difference highlights how adjusted and reported results tell different stories.
Bull case
Adjusted earnings rose 9% from a year earlier, helped by growth outside Canadian Utilities and continued demand for modular facilities. ATCO Structures secured new contracts in Canada, the United States and Australia. Canadian Utilities has also started construction on its fully contracted Yellowhead Pipeline project.
The proposed transaction could give shareholders a stake in a larger regulated utility group, alongside New ATCO’s housing, defence and other industrial-services businesses.
Bear case
IFRS earnings fell from a year earlier. The proposed transaction also carries approval, timing and execution risks. It remains subject to customary approvals and is expected to close in the third or fourth quarter of 2027.
ATCO shares closed at C$85.30, near their 52-week high of C$86.67. The supplied P/E is about 54, leaving room for disappointment if earnings growth, project delivery or the transaction’s expected benefits fall short.
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