Author Topic: ATCO - Atlas Corp  (Read 196074 times)

NBL0303

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Re: ATCO - Atlas Corp
« Reply #580 on: December 18, 2019, 06:46:14 AM »
My guess is the dividend stays. It doesnít take up much of the FCF and that % will fall as they redeploy capital and grow FCF. I also suspect FFH wants the divi given their stated target to get to $1bn in dividend and interest income.

I didn't know this - so Prem has said that he wants FFH to generate $1 billion annually from dividends and interest?


petec

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Re: ATCO - Atlas Corp
« Reply #581 on: December 18, 2019, 08:33:22 AM »
My guess is the dividend stays. It doesnít take up much of the FCF and that % will fall as they redeploy capital and grow FCF. I also suspect FFH wants the divi given their stated target to get to $1bn in dividend and interest income.

I didn't know this - so Prem has said that he wants FFH to generate $1 billion annually from dividends and interest?

Canít remember if it was Prem or Rivett but Iíve heard it more than once and itís an explicit target. I suspect it was part of the motivation for selling APR, which did not pay a dividend but now, in effect, does.
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Saluki

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Re: ATCO - Atlas Corp
« Reply #582 on: January 16, 2020, 07:45:30 AM »
Seaspan and Swiber terminate their $200 million deal.

https://biv.com/article/2020/01/seaspan-corps-us200-million-swiber-plan-sidelined

I'm still very long SSW.  I hope SSW got a breakup fee. 
If it's important, do it every day. If it's not important, don't do it at all.  -Dan Gable

ValuePadawan

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Re: ATCO - Atlas Corp
« Reply #583 on: January 16, 2020, 10:43:00 AM »
A shame it didn't work out. Sokol sounded frustrated when talking about Swiber at the investor day so its not a huge surprise.

gary17

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Re: ATCO - Atlas Corp
« Reply #584 on: February 19, 2020, 07:08:49 AM »
I couldn't listen in on the CC...  did they provide any update on impact of the virus on earnings?

petec

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Re: ATCO - Atlas Corp
« Reply #585 on: February 19, 2020, 09:57:38 AM »
I couldn't listen in on the CC...  did they provide any update on impact of the virus on earnings?

They got a few questions on it. There's some disruption, more from government actions to prevent spread than the disease itself. But doesn't sound like a big impact on operations and earnings are largely insulated as they don't have much on spot at the moment.

Meanwhile the cash rolls in.
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gary17

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Re: ATCO - Atlas Corp
« Reply #586 on: March 18, 2020, 08:42:13 PM »
hmmm will dividend get cut ?

NBL0303

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Re: ATCO - Atlas Corp
« Reply #587 on: March 19, 2020, 06:17:58 AM »
Does anyone think this has a chance of bankruptcy/severe cash crunch issue? I believe the restructuring they had undertaken provides them breathing room - even if the pandemic's economic consequences grow worse than currently anticipated - but perhaps I'm missing something.

petec

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Re: ATCO - Atlas Corp
« Reply #588 on: March 19, 2020, 11:35:03 AM »
Does anyone think this has a chance of bankruptcy/severe cash crunch issue? I believe the restructuring they had undertaken provides them breathing room - even if the pandemic's economic consequences grow worse than currently anticipated - but perhaps I'm missing something.

I keep meaning to recheck the debt maturity schedule but off the top of my head between cash, unencumbered ships, the remaining space on their new flexible $2bn secured debt facility, and cash flowing in Iím pretty sure they will be fine. In fact I am hoping they get to buy some distressed assets.
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ValuePadawan

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Re: ATCO - Atlas Corp
« Reply #589 on: March 19, 2020, 01:04:29 PM »
Does anyone think this has a chance of bankruptcy/severe cash crunch issue? I believe the restructuring they had undertaken provides them breathing room - even if the pandemic's economic consequences grow worse than currently anticipated - but perhaps I'm missing something.

"As of December 31, 2019, Seaspan had total liquidity of $470.0 million, consisting of $195.0
million of cash and cash equivalents and $275.0 million of undrawn commitments under the
Program. Additionally, as of December 31, 2019, Seaspanís unencumbered asset pool included
32 vessels."