Welcome to our dedicated page for Atlas news (Ticker: ATCO), a resource for investors and traders seeking the latest updates and insights on Atlas stock.
Atlas Corp. operates as a global asset management company focused on long-term, risk-adjusted returns from infrastructure assets in the maritime sector, energy sector and other infrastructure verticals. Recurring Atlas news centers on preferred-share capital actions, including quarterly cash dividend declarations on preferred series and completed redemptions of preferred securities. Company updates also describe maritime asset activity, including vessel programs and long-term charter arrangements in transportation infrastructure.
Atlas Corp. (NYSE: ATCO) has filed its 2021 annual report on Form 20-F with the SEC, including audited financial statements for the year ended December 31, 2021. The report is accessible on the company’s website under Investor Relations and hard copies can be requested for free by shareholders. Atlas is recognized as a leading global asset management firm with a strategic focus on sustainable shareholder value and disciplined capital deployment across various infrastructure sectors including maritime and energy.
On March 16, 2022, Seaspan Corporation, a subsidiary of Atlas Corp. (NYSE: ATCO), announced an agreement with a major European liner to extend charter terms for 18 containerships, previously set to roll-off in 2023 and 2024, now extending to 2025. This deal is projected to generate approximately $0.2 billion in incremental gross contracted cash flow over 2023-2025. CEO Bing Chen emphasized the partnership's effectiveness in providing predictable cash flows and minimizing roll-off risks.
Atlas Corp. (NYSE: ATCO) has scheduled its 2022 Investor Day for March 30, 2022, at 10:00 a.m. E.T., to be held at the New York Stock Exchange and accessible via live webcast. The management team will present the company’s operational and financial strategies alongside long-term financial guidance. Chairman David Sokol will open the event, which will also feature a Q&A session. Due to COVID-19 precautions, in-person attendance will be limited and by invitation only. A replay of the webcast will be available 48 hours post-event, viewable for one year.
Edwards, a leader in semiconductor supply, is investing in a new 200,000-square-foot manufacturing facility in Chandler, Arizona. This facility will utilize advanced technologies to support the growing semiconductor market, creating approximately 200 jobs locally. With construction underway, the site will begin operations in Q3, focusing on the remanufacturing and assembly of vacuum pump equipment essential for semiconductor fabrication. This investment underlines Edwards' commitment to sustainable practices and enhancing supply chain capacity in North America.
Atlas Corp. (NYSE: ATCO) reported strong financial results for FY 2021, exceeding its raised guidance. Revenue rose by 18.1% to $1.646 billion, with a net earnings increase to $400.5 million ($1.26 per diluted EPS). Adjusted EBITDA reached $1.116 billion, up 20.8%. The company is initiating FY 2022 guidance with an expected adjusted EBITDA of $1.138 billion. Atlas maintains a robust liquidity position of $888.6 million and plans significant investments of $7.6 billion for future growth.
On February 8, 2022, APR Energy, a subsidiary of Atlas Corp. (NYSE: ATCO), announced a contract to provide Evolution Power Partners with 228 MW of gas generation capacity in Brazil. The project includes a turn-key natural gas-fired power plant in Itaguaí, scheduled to begin operations on May 1, 2022. This initiative is part of Brazil's strategy to address energy shortages due to a severe drought affecting hydro power availability. This marks APR's entry into the Brazilian market, highlighting its commitment to delivering sustainable and reliable energy solutions.
Atlas Corp. (NYSE: ATCO) announced on Feb. 2, 2022, that its subsidiary APR Energy has extended its contract with California's Imperial Irrigation District (IID) to provide about 75 MW of backup energy through 2022. This extension follows APR's successful services in 2021, contributing to IID's grid stability during high-demand periods. APR's solutions include three fully staffed GE TM2500 turbine plants in El Centro and Calexico, each generating 25 MW. IID's proactive approach helps secure energy services at pre-determined prices to ensure reliability for its customers.
Atlas Corp. (NYSE: ATCO) will participate in the Stifel 2022 Transportation & Logistics Conference on February 8th, 2022. CEO Bing Chen is scheduled for a panel discussion on Container Shipping & Port Infrastructure from 9:20 am to 10:30 am ET. Additionally, the management team will engage in investor meetings during the event. A live webcast of the panel will be accessible through the provided link, with a replay available for 24 hours post-event. Atlas focuses on creating sustainable shareholder value in the maritime and energy sectors.
Atlas Corp. (NYSE: ATCO) will release its financial results for Q4 and the year ending December 31, 2021, on February 16, 2022, post-market close. A conference call for shareholders and interested parties is scheduled for February 17, 2022, at 8:30 a.m. ET to discuss these results. Interested participants can join via dial-in numbers or by accessing a live webcast on the company's website. A replay will be available shortly after the call, lasting until March 3, 2022.
On January 5, 2022, Seaspan Corporation, a subsidiary of Atlas Corp. (NYSE: ATCO), announced the completion of financing for its 70-vessel newbuild program. The financing, totaling around $6.9 billion, supports a total investment of approximately $7.6 billion. The latest financing, concluded on December 23, 2021, involves $1.4 billion for ten new LNG dual-fuel vessels. This arrangement combines export credit agency-backed loans and innovative sale-leaseback contracts, enhancing liquidity and securing low-cost funding through strong global partnerships.