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) announced an agreement to acquire DGI Trading Pty Limited for approximately $23.5 million. DGI, located in Australia, supplies essential components to the mining sector. The acquisition aims to enhance vertical integration and diversify NACG's service offerings. The purchase price correlates to DGI's net tangible assets and includes earn-out payments based on DGI's future earnings. The transaction is expected to close on July 1, 2021, and will be funded through existing debt facilities.
North American Construction Group Ltd. (NOA) has successfully closed the underwriters' over-allotment option, raising an additional $9.75 million from the sale of 5.50% convertible unsecured subordinated debentures. This follows their recent offering, bringing total gross proceeds to $74.75 million. The funds will primarily be used to repay senior indebtedness under their revolving credit facility. The debentures will not be registered under U.S. Securities Act and cannot be sold in the U.S. without an exemption.
North American Construction Group Ltd. (NOA) has announced that underwriters fully exercised an over-allotment option, leading to an additional purchase of $9.75 million of its 5.50% convertible unsecured subordinated debentures. This brings the total gross proceeds from the offering to $74.75 million. The proceeds will primarily be used to repay senior debt under its revolving credit facility.
North American Construction Group Ltd. (NOA) has successfully closed an offering of 5.50% convertible unsecured subordinated debentures, raising gross proceeds of $65 million. Led by National Bank Financial, the syndicate of underwriters includes notable firms such as Canaccord Genuity and CIBC World Markets. An over-allotment option allows for an additional $9.75 million within 30 days. Proceeds will primarily be used to repay senior debt under the revolving credit facility. The debentures will trade on the TSX under symbol NOA.DB.B.
North American Construction Group Ltd. held its Annual and Special Meeting of Shareholders on May 5, 2021. Shareholders overwhelmingly approved the election of directors, including Martin R. Ferron and John J. Pollesel, with support ranging from 87.12% to 99.91%. KPMG LLP was appointed as the independent auditors. An advisory vote on executive compensation passed with 80.15% approval. Additionally, shareholders approved unallocated options in the Share Option Plan with 65.22% approval.
North American Construction Group reported Q1 2021 results, showing adjusted EBITDA of $61.1 million, a $1.2 million increase from last year. Gross profit margin improved to 19.0% from 17.4%. Key highlights included record revenue from the Nuna Group at $25.2 million, a 142% increase. Free cash flow was $5.5 million, while net debt rose to $397.2 million. The company initiated a normal course issuer bid to buy back up to 2 million shares. CEO Joe Lambert expressed optimism for future opportunities and ongoing operational excellence.
North American Construction Group Ltd. (NOA) will announce its financial results for Q1 2021 on April 28 after market close. A conference call and webcast are scheduled for April 29 at 7:00 a.m. MT (9:00 a.m. ET) to discuss the results. Access details include a toll-free number (1-844-248-9143) and conference ID (6266913). A replay will be available until May 27. NACG, a leader in heavy construction and mining services in Canada, has been serving large resource companies for over 65 years.
North American Construction Group Ltd. (NOA) announced its intention to initiate a normal course issuer bid (NCIB) to repurchase up to 2,000,000 common shares, representing approximately 9.7% of the public float and 6.7% of total shares outstanding as of April 6, 2021. The repurchase aims to enhance shareholder value and liquidity, with purchases expected to begin around April 9, 2021, and conclude by April 8, 2022. The company had previously repurchased 2,300,000 shares under a prior NCIB at an average price of $11.85 CAD per share.
North American Construction Group reported its Q4 and full-year 2020 financial results, revealing adjusted EBITDA of $46.2 million for Q4 and $175.5 million for the full year, reflecting stability compared to 2019. Revenue fell to $136.8 million in Q4, down from $189.5 million, largely due to project delays. The company successfully reduced net debt to $385.6 million and achieved a gross profit margin of 17.0%. A quarterly dividend of $0.04 per share was declared. Management aims for a 50% diversification target by 2022.
North American Construction Group Ltd. (NOA) will announce its financial results for the year and fourth quarter ended December 31, 2020, on February 17, 2021, after market close. A conference call is scheduled for February 18, 2021, at 7:00 a.m. MT (9:00 a.m. ET) for discussing the results. Interested parties can join by dialing a toll-free number or by accessing the webcast. A slide deck will be available prior to the call. The company, a major provider of heavy construction and mining services in Canada, has been in operation for over 65 years.
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?
