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

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

Reuters Recommended Reads

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

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

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(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.)