North American Construction Group ( (TSE:NOA) ) has provided an update.
In its 2024 Annual Report, North American Construction Group Ltd. highlighted a challenging yet transformative year. The company faced a tough start with reduced demand in its oil sands business and operational difficulties in its joint venture, Nuna. However, strategic efforts, including asset reallocation to Australia and new partnerships, led to a strong recovery. The Australian market now represents a significant portion of the company’s revenue and backlog, with impressive contract wins in the region. The company’s focus on safety, infrastructure growth, and financial stability positions it well for future opportunities, with plans to increase infrastructure projects’ contribution to earnings by 2027.
More about North American Construction Group
North American Construction Group Ltd. operates in the mining and heavy civil construction industry, providing earthworks and infrastructure services. The company focuses on safe and environmentally responsible operations, with a significant presence in North America and Australia.
YTD Price Performance: -19.07%
Average Trading Volume: 63,380
Technical Sentiment Consensus Rating: Hold
Current Market Cap: $454.8M
Learn more about NOA stock on TipRanks’ Stock Analysis page.
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