North American Construction (TSE:NOA) has released an update.
North American Construction Group Ltd. (NACG) reported a record-breaking fourth quarter for 2023, with the acquisition of the MacKellar Group significantly boosting revenue to $403.4 million and Adjusted EBITDA to $101.1 million. The company saw a substantial increase in net debt due to the acquisition, but also generated strong free cash flow of $110.6 million. President and CEO Joseph Lambert expressed optimism about the company’s expansion in Australia and ongoing projects across various regions.
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