Quarterly ResultMay 13, 2026, 05:06 PM
North American Construction Group Q1 Combined Revenue $422.5M, up 8%
AI Summary
North American Construction Group Ltd. reported mixed results for Q1 2026. Combined revenue increased 8% year-over-year to $422.5 million, driven by strong Australian operations and the inclusion of Iron Mine Contracting's economic benefit. However, reported revenue decreased 6% and net income fell 10% year-over-year to $5.6 million, primarily due to higher interest expenses and G&A. The company achieved improved margins and a significant increase in free cash flow, and maintained its positive outlook for 2026, bolstered by the IMC acquisition and strong project backlog.
Key Highlights
- Completed acquisition of Iron Mine Contracting (IMC) on April 7, 2026, expanding Australian operations.
- Combined Revenue increased 8% year-over-year to $422.5 million in Q1 2026.
- Reported revenue decreased 6% year-over-year to $319.2 million.
- Adjusted EBITDA was $99.5 million, flat year-over-year.
- Net income decreased 10% year-over-year to $5.6 million.
- Free Cash Flow was a $3.7 million inflow, up $45.2 million year-over-year.
- Declared a quarterly dividend of $0.12 per common share.
- Projected 2026 combined revenue between $1.5 billion and $1.7 billion, with adjusted EBITDA of $380 million to $420 million.