CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:
CU reported Q1 2026 adjusted earnings of CAD242M (CAD0.89/share) versus CAD232M (CAD0.85/share) in Q1 2025, while IFRS earnings declined to CAD224M from CAD236M in the prior year. The variance was driven by rate-regulated activities timing adjustments of CAD36M and equity preferred share dividends of CAD19M. We believe news surrounding the Yellowhead Pipeline in May is likely to be positive as energy infrastructure in Western Canada is desperately needed during the current energy crisis. The CAD2.9B Yellowhead Pipeline Project has an AUC hearing scheduled for May 2026, with a decision expected by Q3 2026 and construction targeted to commence in 2026. The company invested CAD353M in capex during Q1, with 94% allocated to regulated utilities in ATCO Energy Systems and ATCO Australia. The Central East Transfer-Out Project completed line construction and will add 1,500 megawatts capacity to Alberta's grid by June 2026. The board declared a Q2 dividend of CAD0.4623/share.