February 23, 2011 / 1:53 PM / in 7 years

UPDATE 1-Atco, Canadian Utilities Q4 profits top estimates

* Atco Q4 adj EPS C$1.43 vs est C$1.29

* Revenue up 9 pct to C$941.8 mln pct

* Canadian Utilities Q4 adj EPS C$1.02 vs est C$0.99

* Revenue rises 5 pct to C$709.3 million (follows alerts)

Feb 23 (Reuters) - Canada’s Atco Ltd posted quarterly results that beat estimates, helped by higher manufacturing and rental activity at its structures and logistics business.

October-December earnings rose to C$82.2 million, or C$1.42 a share, from C$78.2 million, or C$1.35 a share, a year ago.

Excluding items, it earned C$1.43 a share.

Atco, which operates utilities, power plants and other industrial businesses, said revenue rose 9 percent to C$941.8 million.

Analysts on average had forecast earnings of C$1.29 a unit, on revenue of C$1.22 billion, according to Thomson Reuters I/B/E/S.

Atco’s unit Canadian Utilities Ltd posted fourth-quarter earnings of C$128.6 million, or C$1.02 a share, up slightly from the previous year’s C$127.1 million, or C$1.01 a share. Adjusted earnings were C$1.02 a share.

Analysts on average had forecast earnings at the unit of 99 Canadian cents a share.

Revenue rose 5 percent to C$709.3 million.

Shares of Atco have risen about 8 percent and those of Canadian Utilities about 3 percent since they reported third-quarter earnings in October.

Atco shares closed at C$56.48, while those of Canadian Utilities closed at C$50.65 on Tuesday on the Toronto Stock Exchange.

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