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Canada's North American Construction Q3 revenue rises; tightens FY outlook

By Reuters News


Overview

  • Canada heavy civil contractor's Q3 combined revenue rose 12% yr/yr

  • Q3 adjusted EPS declined yr/yr

  • Company raised full-year revenue outlook but tightened adjusted EBITDA guidance


Outlook

  • North American Construction raises 2026 combined revenue outlook to C$1.7 bln-C$1.8 bln

  • Company tightens 2026 adjusted EBITDA guidance to C$370 mln-C$400 mln from C$380 mln-C$420 mln

  • Company expects Q4 improvement from IMC ramp-up, stronger Australian margins, and increased oil sands utilization


Result Drivers

  • AUSTRALIA GROWTH - Revenue in Australian operations rose 42% yr/yr, driven by the IMC acquisition and organic growth at MacKellar and DGI

  • AUSTRALIA MARGIN IMPACT - Combined gross profit margin was impacted by additional parts and labour costs at Queensland thermal coal mine site and operational inefficiencies at a lithium mine site in Western Australia

  • CANADIAN FLEET OPTIMIZATION - Improved margins in Canada attributed to ongoing fleet optimization


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Adjusted EPS

C$0.25

Q3 Adjusted Net Income

C$6.59 mln

Q3 Adjusted EBITDA

Miss

C$100.08 mln

C$108.63 mln (6 Analysts)

Q3 Gross Profit

C$47.09 mln

Q3 Operating Income

-C$6.05 mln


Reuters Recommended Reads

  • Nov 3 - Canada's Suncor Q3 adjusted operating earnings jump on higher upstream prices

  • Nov 3 - Knife River Q3 revenue misses estimates on contracting services headwins

  • Nov 4 - Martin Marietta Q3 revenue beats estimates but profit misses on inflationary pressure


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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