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Canadian Utilities Q3 profit beats estimates, expects Emera merger to close in late 2027

By Reuters News


Overview

  • Canada utility's Q3 adjusted EPS beat analyst expectations

  • Adjusted net income for Q3 rose year-over-year

  • Company announced merger of equals with Emera, expected to close in late 2027


Outlook

  • Canadian Utilities expects merger with Emera to close in Q3 or Q4 2027

  • Company says operations will continue as usual while merger process advances

  • Company expects Yellowhead Pipeline to support Alberta's economic and industrial growth


Result Drivers

  • CAPITAL INVESTMENT - Co said Q3 results were supported by C$653 mln in capital expenditures, mostly in regulated utilities

  • RATE BASE INDEXING - Co attributed higher adjusted earnings in ATCO Australia to inflation indexing on rate base

  • PIPELINE PROJECT - Construction of Yellowhead Pipeline commenced after regulatory approvals, with contracts awarded and full customer commitments


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Adjusted EPS

Beat

C$0.43

C$0.42 (4 Analysts)

Q3 Adjusted Net Income

C$117 mln


Reuters Recommended Reads

  • Nov 4 - Canada's South Bow Q3 revenue rises; lifts 2026 cash flow outlook

  • Nov 5 - Canada's TC Energy raises 2026 EBITDA outlook after strong Q3 earnings

  • Nov 6 - Canada's Algonquin Power Q3 profit rises on favourable weather, rate hikes


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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