Overview of Atlas Arteria's Q1 2024 performance

Atlas Arteria (ASX: $ALX) has released its toll revenue and traffic statistics for the three months ending 31 March 2024 (Q1 2024). The weighted average traffic for the quarter decreased by 0.7%, while the weighted average toll revenue increased by 2.9% compared to the prior comparable period. The company's Q1 2024 performance was influenced by various factors, including weaker traffic performance at APRR due to farmers' strikes in France, extreme winter conditions impacting Chicago Skyway, and the impact of Easter falling in March in 2024.

Executive commentary on Q1 2024 performance

The Q1 2024 performance reflects the impact of external factors such as the farmers' strikes in France and extreme winter weather in the Midwest. Despite these challenges, we have seen resilience in light vehicle traffic and positive growth in toll revenue in certain segments. The impact of holidays like Easter and changes in trade patterns have also influenced the traffic and revenue dynamics. We remain committed to creating value for our investors through disciplined management and continue to focus on the long-term benefits our roads bring to the communities we serve.

Summary of Q1 2024 performance and outlook

Atlas Arteria's Q1 2024 performance saw a decrease in weighted average traffic, primarily influenced by external factors such as farmers' strikes in France and extreme winter conditions in the Midwest. However, the company reported an increase in weighted average toll revenue, driven by toll increases and resilience in light vehicle traffic. Looking ahead, Atlas Arteria remains focused on creating long-term value for its investors through considered and disciplined management. The company's commitment to benefiting communities through reduced travel time, greater time certainty, reduced fuel consumption, and carbon emissions underpins its corporate strategy and future outlook.