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ATCO July 29 , 2021 News Release ATCO REPORTS HIGHER SECOND QUARTER 2021 ADJUSTED EARNINGS CALGARY , Alberta - ATCO Ltd. ( TSX : ACO.X ) ( TSX : ACO.Y ) ATCO today announced second quarter 2021 adjusted earnings of $ 80 million ( $ 0.70 per share ) , which were $ 10 million ( $ 0.09 per share ) higher compared to $ 70 million ( $ 0.61 per share ) in the second quarter of 2020 . Higher adjusted earnings in the second quarter of 2021 were mainly due to contributions from Canadian Utilities ' International Electricity Operations segment related to ongoing transition work and commencement on June 1 , 2021 under the Supplemental Agreement to LUMA Energy's 15 - year contract to modernize and operate Puerto Rico's electricity transmission and distribution system . Higher earnings were also due to a return to more stable levels of inflation in Australia , which positively impacted earnings in Canadian Utilities ' International Natural Gas Distribution segment . IFRS earnings attributable to Class I and Class II Shares were $ 12 million in the second quarter of 2021 , $ 33 million lower compared to 2020. Earnings attributable to Class I and Class II Shares include timing adjustments related to rate - regulated activities , unrealized gains or losses on mark - to - market forward and swap commodity contracts , one - time gains and losses , impairments , and items that are not in the normal course of business or a result of day - to - day operations . These items are not included in adjusted earnings . RECENT DEVELOPMENTS ATCO Structures • Awarded a $ 13 million contract with the Government of British Columbia's supportive housing program in Vernon , BC for a four - story , 61 - unit building . • Won a supply contract with a mining client in Nunavut for a 276 - bed accommodation complex . The project consists of deployment of fleet product which has been repurposed to withstand the environment in the region . ATCO Frontec • UQSUQ Corporation , a joint venture between ATCO Frontec and Nunavut Petroleum Corporation , successfully won its bid with the Government of Nunavut to continue operating and maintaining the Iqaluit bulk fuel storage facility and pipeline distribution system . The new contract covers a 10 - year period , plus a 5 - year extension option , and commences on December 1 , 2021 .