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) has secured a five-year contract valued at approximately $125 million with Mikisew North American Limited Partnership, enhancing its backlog, which now totals $1.7 billion. This partnership will contribute significantly to NACG's operational visibility and is expected to represent about one-third of the work over the contract’s term, extending until March 2027. Key executives from both companies expressed optimism about the collaboration, emphasizing its benefits for Indigenous partnerships and market leadership in heavy civil construction.
North American Construction Group Ltd. (NOA) reported a strong Q4 2021, with revenues of $181.0 million, up from $136.1 million YoY, driven by increased demand at Fort Hills and Kearl mines, and the DGI acquisition. Net income rose to $15.3 million, advancing adjusted EBITDA to $56.3 million for the quarter, and $207.3 million for the full year, marking recovery to pre-pandemic levels. However, gross profit margin declined to 12.7% from 16.6% due to higher maintenance costs. Free cash flow reached $48.3 million, supporting a dividend increase to $0.32 annually.
North American Construction Group Ltd. (NOA) will release its financial results for Q4 and the full year ending December 31, 2021, on February 16, 2022, after market close. A conference call and webcast will follow on February 17, 2022, at 7:00 AM MT (9:00 AM ET). Interested parties can access the call by dialing 1-844-248-9143 (toll-free) or 1-216-539-8612 (international), using Conference ID 2060308. A replay will be available until March 19, 2022. Further details, including a presentation slide deck, will be accessible on the company’s website.
North American Construction Group Ltd. reported a tragic incident at the Millennium mine in Fort McMurray, Alberta, where an employee was fatally injured during a collision involving two haul trucks on Jan. 6, 2022. Emergency response teams arrived at approximately 6:30 a.m. Following the incident, the company will conduct a thorough investigation in collaboration with its client and relevant authorities. CEO Joe Lambert expressed deep sorrow over the loss and emphasized the company's commitment to supporting the affected family and employees during this difficult time.
North American Construction Group reported strong third quarter 2021 results, with revenue of $166 million, up from $93.6 million in Q3 2020. Key highlights include adjusted EBITDA of $47.5 million, reflecting a 28% year-over-year increase, and free cash flow of $10 million. Gross profit margin fell to 13.1% due to COVID-19 impacts and equipment maintenance costs. The company anticipates revenue of approximately $275 million from a contract extension and $175 million from a contract amendment. A quarterly dividend of $0.04 per share was also declared.
North American Construction Group Ltd. (NOA) will announce its Third Quarter financial results on October 27, 2021, after market close. A conference call is scheduled for October 28, 2021, at 7:00 a.m. MT (9:00 a.m. ET). Investors can join the call by dialing 1-844-248-9143 (toll-free) or 1-216-539-8612 (international). A replay will be available until November 28, 2021. More details and a slide deck will be accessible on the company's website.
North American Construction Group Ltd. (NOA) announced the financial close of the Red River flood mitigation project in partnership with Acciona and Shikun & Binui. This milestone, achieved slightly ahead of schedule, allows the consortium to design, build, finance, operate, and maintain the flood diversion channel for 29 years. A Green Financing Framework has been established, with bonds rated 'Baa3' by Moody's. This project is significant for NACG as it strengthens its position in the infrastructure market and promotes climate resilience.
North American Construction Group Ltd. (NOA) announced an extension of its senior secured credit facility, now maturing on October 8, 2024. The facility retains a borrowing capacity of $325 million, with an option to increase it by $50 million. The extension includes favorable terms allowing more flexibility for joint ventures, especially in public-private partnerships. CFO Jason Veenstra expressed gratitude toward financial partners for their support, which is crucial for implementing the company's diversification strategy and growing its project backlog.
North American Construction Group Ltd. (NOA) announced a significant contract award to Mikisew North American Limited Partnership by a major oil sands producer. This contract extends their existing agreement to December 2023 and is expected to generate approximately $275 million in revenue. NACG's backlog has now reached a record $1.9 billion, demonstrating growth in its oil sands business and Indigenous partnerships. The company aims to enhance equipment utilization and diversify its customer base across various regions and commodities.
North American Construction Group Ltd. (NOA) reported Q2 2021 results showing revenue of $140.2 million, a significant rise from $70.8 million in Q2 2020, driven by recovering demand post-COVID-19. Adjusted EBITDA increased to $42.4 million, up 33% year-over-year. However, gross profit margin fell to 10.9% due to increased equipment maintenance and labor shortages. The company announced the acquisition of DGI Trading for $23.5 million and secured a $650 million Fargo-Moorhead flood diversion contract. A quarterly dividend of CAD $0.04 per share was declared, payable on October 8, 2021.
FAQ
What is the current stock price of North American Construction Group Ltd. (NOA)?
What is the market cap of North American Construction Group Ltd. (NOA)?
What services does North American Construction Group Ltd. provide?
Where does NACG operate?
What is NACG's recent financial performance?
What are NACG's main business segments?
What recent acquisitions has NACG made?
How does NACG ensure the efficiency of its operations?
What are NACG's expectations for 2024?
What challenges has NACG faced recently?
What is NACG's dividend policy?
How does NACG maintain financial stability?
