ATCO - Atlas's Q4 highlights revenue FFO growth and updated strong guidance

Atlas (NYSE:ATCO) reported Q4 revenue growth of 18.1% to $428.2M; 23.7% revenue growth was attributable to the Containership Leasing segment, of which 81.0% was attributable to the existing asset base, and 19.0% was attributable to assets added during the year. FFO Per Share growth of 14.3% to $0.72 was driven by increase in revenue. "Since December 2020 and through to Dec. 31, 2021, our containership leasing business grew by 890,750 TEU, 73 vessels net, and $12.9B of gross contracted cash flow primarily contributed by the 70 newbuild, four pre-owned vessels acquired, and 68 forward charter fixings. With consistent operational excellence, we have delivered three newbuild vessels ahead of schedule and expect all vessels to be in operation by year-end 2024, as scheduled," president & CEO Bing Chen commented. Since December 2020, the company has invested $7.6B on all long-term leases; the investments will expand capacity by 848K TEU and will also enable the company

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Atlas's Q4 highlights revenue, FFO growth and updated strong guidance