North American Construction ( (NOA) ) has released its Q3 earnings. Here is a breakdown of the information North American Construction presented to its investors.
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North American Construction Group Ltd. is a leading provider of heavy civil construction and mining services across Canada, the U.S., and Australia, known for its extensive experience in the mining, resource, and infrastructure sectors.
In its latest earnings report for Q3 2024, North American Construction Group (NACG) announced a record quarterly revenue of $367.2 million, significantly surpassing the $274.8 million from the same period last year. This remarkable increase is attributed to the operational success of the Australian fleet from the MacKellar Group, acquired in October 2023, and robust performance in Canada.
Key financial highlights from the quarter include a substantial rise in adjusted EBITDA to $106.4 million, with an improved margin of 29.0%, and a combined gross profit of $80.4 million, representing a margin of 21.9%. These figures reflect the company’s strategic diversification and efficient operations. Additionally, NACG declared a 20% increase in its quarterly dividend, showcasing confidence in its ongoing growth and financial stability.
Looking ahead, NACG remains focused on enhancing equipment availability, operational excellence, and strategic diversification. The company anticipates a promising 2025, buoyed by a recent five-year contract and ongoing discussions for significant contracts in the oil sands region, reinforcing its strong market position and growth trajectory.
