Welcome to our dedicated page for North American Construction Group Ltd. news (Ticker: NOA), a resource for investors and traders seeking the latest updates and insights on North American Construction Group Ltd. stock.
North American Construction Group Ltd. (NACG) is a leading provider of heavy civil construction and mining services, operating primarily in the Canadian oil sands. With over 60 years of industry experience, NACG has developed an extensive skill set and resource base capable of supporting both mining and 'in situ' oil sands projects. The company also boasts one of the largest equipment fleets in the oil sands, ensuring it can meet the diverse needs of its clients.
Operating across Canada, the United States, and Australia, NACG's business segments include Heavy Equipment - Canada, Heavy Equipment - Australia, and Other services like mine management and external maintenance programs. The company's recent achievements include the successful acquisition of MacKellar Group, an Australian company specializing in heavy earthmoving equipment, significantly expanding NACG's geographical footprint and operational capabilities.
Core Business and Services:
- Mining Services: Comprehensive support for resource development projects, including both open-pit and underground mining.
- Heavy Civil Construction: Infrastructure development for industrial construction sectors.
- Equipment Maintenance and Rebuild Programs: Ensuring optimal performance and longevity of heavy machinery.
In the latest financial quarter (ending September 30, 2023), NACG reported revenues of $194.7 million, a slight increase from the previous year. The company's heavy equipment fleet and projects like the Fargo-Moorhead flood diversion contributed significantly to these figures. Adjusted EBITDA stood at $59.4 million, reflecting consistent operational efficiency despite challenges from wildfires in Northern Canada and other external factors.
NACG's outlook for 2024 remains positive, bolstered by the successful integration of MacKellar's operations. The company expects free cash flows between $160 to $185 million, driven by its diversified portfolio and robust contract pipeline. Financial stability is further supported by a strong liquidity position, with $154.2 million in available capital liquidity as of September 30, 2023.
Overall, NACG continues to demonstrate resilience and growth, leveraging its extensive experience, diverse service offerings, and strategic acquisitions to maintain its position as a premier provider in the heavy civil and mining sectors.
North American Construction Group Ltd. (NOA) will announce its financial results for Q4 and the full year ended December 31, 2022, on February 15, 2023, after market close. A conference call to discuss these results is scheduled for February 16, 2023, at 7:00 a.m. MT (9:00 a.m. ET). Interested parties can access the call by dialing 1-888-886-7786, using conference ID 79349092. A replay will be available until March 16, 2023. A slide deck will be downloadable from the company’s website the evening before the call.
NACG is a leading provider of heavy construction and mining services in Canada, operating for over 65 years.
North American Construction Group announced Q3 2022 results, reporting a 15% revenue increase to $191.4 million compared to Q3 2021. Equipment utilization surged to 62% from 52% year-over-year, bolstered by contractually adjusted rates. Combined revenue reached $269.6 million, a 29% rise, aided by joint ventures. Adjusted EBITDA grew 27% to $60.1 million. The quarter ended with a positive free cash flow of $3.4 million. Notably, a $0.08 quarterly dividend was declared. The firm also announced an acquisition for $15 million and extended its credit facility.
North American Construction Group Ltd. (TSX:NOA/NYSE:NOA) will release its Third Quarter financial results on October 26, 2022, after market close. A conference call is scheduled for October 27, 2022, at 7:00 a.m. MT (9:00 a.m. ET) to discuss the results, accessible via a toll-free number. A replay of the call will be available until November 24, 2022. Additionally, a slide deck for the webcast will be available on their website prior to the call. NACG has been a key player in heavy construction and mining services in Canada for over 65 years.
North American Construction Group has announced an extension and amendment of its senior secured credit facility, pushing the maturity date to October 8, 2025. The facility, now maintaining an overall liquidity of $475 million, adjusts borrowing capacity to $300 million. The allowance for equipment financing and joint venture support has increased from $150 million to $175 million, providing enhanced operational flexibility. CFO Jason Veenstra emphasized the importance of this low-cost facility in supporting business liquidity and operations.
North American Construction Group Ltd. (NOA) reported Q2 2022 revenue of $168 million, a 21% increase from Q2 2021, primarily due to operations at the Fort Hills mine and DGI Trading's contributions. However, adjusted EBITDA dropped to $41.6 million, reflecting challenges like technician shortages and inflation. Gross profit margin fell to 7.4%, down from 10.4% the previous year. Free cash flow stood at $10.4 million. The Board declared a quarterly dividend of $0.08 per share, payable on October 7, 2022, while management anticipates continued market challenges.
North American Construction Group Ltd. (NOA) will announce its second-quarter financial results for the period ending June 30, 2022, on July 27, 2022, after market hours. A conference call and webcast will follow on July 28, 2022, at 7:00 a.m. MT (9:00 a.m. ET). Interested parties can join the call by dialing 1-888-396-8049 with Conference ID 82943569. A replay will be available until August 28, 2022. For additional details, a slide deck for the presentation can be downloaded from the company's website.
North American Construction Group Ltd. (NOA) held its Annual and Special Meeting of Shareholders on May 4, 2021, announcing the results of key votes. All proposed directors, including Martin R. Ferron and Bryan D. Pinney, were elected with significant majority votes, surpassing 91%. KPMG LLP was appointed as the independent auditors, also receiving near-unanimous support. The advisory vote on executive compensation passed with 68.82% approval. NACG has provided services to major oil, natural gas, and resource companies for over 65 years.
North American Construction Group Ltd. (NOA) reported Q1 2022 revenue of $176.7 million, a 5.3% rise year-over-year, largely due to improved operations and contributions from the DGI acquisition. Combined revenue reached $236.6 million, reflecting a 23.1% increase driven by joint ventures. However, adjusted EBITDA fell to $57.7 million, down 5.5% from the previous year, impacted by labor shortages and inflation. A quarterly dividend of $0.08 per share was declared. The company forecasts adjusted EBITDA for 2022 between $215 million and $245 million.
North American Construction Group Ltd. (NOA) will publish its financial results for Q1 2022 on April 27, 2022, post-market close. A conference call and webcast are scheduled for April 28, 2022, at 7:00 a.m. MT (9:00 a.m. ET) to discuss these results. Interested parties can access the call via toll-free and international numbers provided. A slide deck will be available for download prior to the call. The company, a key player in heavy construction and mining services in Canada, has been in operation for over 65 years.
North American Construction Group Ltd. (NOA) announced plans to initiate a normal course issuer bid (NCIB) to repurchase up to 2,113,054 common shares, representing about 10% of the public float. This bid aims to enhance shareholder value and liquidity, as the company believes its current market price does not reflect underlying value. The NCIB is set to commence around April 11, 2022, and will be conducted through the TSX and NYSE.
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