The earnings call reflects a strong performance with record revenue and backlog, driven by significant growth in construction and strategic shift to non-fixed price contracts. However, challenges with legacy projects and a decline in Concessions segment EBITDA are notable concerns. Overall, the highlights significantly outweigh the lowlights.

Company Guidance

During the Aecon Group Inc. earnings call for the second quarter of 2025, the company provided guidance that emphasized its significant growth and strong financial performance. Aecon reported a record backlog of $10.7 billion, marking the highest in its history, and reflected a robust 52% increase in revenue to $1.3 billion for the quarter. Adjusted EBITDA for the quarter rose to $41 million from a negative $154 million the previous year, and the operating profit improved to $2 million compared to a $166 million loss previously. New contract awards reached $2.4 billion, driven largely by the Darlington New Nuclear Project. The company emphasized its strategic shift towards more collaborative and variable target price contracts, which now comprise 76% of the backlog, improving margin predictability. Additionally, Aecon's financial position was bolstered by a renewed $600 million revolving credit facility and a separate $400 million facility for Aecon Utilities, with no significant debt maturities until 2029. Looking forward, Aecon expects continued revenue growth, supported by its record backlog, strong bid pipeline, and ongoing opportunities in the energy, power, and U.S. markets.

Record Revenue and Backlog

Aecon reported revenue for Q2 2025 of $1.3 billion, a 52% increase from the same period in 2024. The backlog reached a record high of $10.7 billion.

Strong Performance in Construction Segment

Construction revenue was $1.3 billion, a 52% increase year-over-year, with significant growth across industrial, nuclear, and civil operations.

Shift to Non-Fixed Price Backlog

76% of Aecon's backlog is now non-fixed price, compared to 50% the previous year, improving margin predictability.

Successful Start of Oneida Energy Storage Project

The Oneida Energy Storage Project commenced operations, becoming the largest grid-scale battery energy storage facility in Canada.

Aecon Group Inc. (TSE:ARE) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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TSE:ARE Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 22, 2025	2025 (Q3)	0.51 / -	0.85	―	―	―
Jul 31, 2025	2025 (Q2)	0.09 / -0.09	-1.99	95.48% (+1.90)	―	―
Apr 23, 2025	2025 (Q1)	-0.15 / -0.54	-0.1	-440.00% (-0.44)	―	―
Mar 05, 2025	2024 (Q4)	0.44 / 0.25	0.15	66.67% (+0.10)	―	―
Oct 31, 2024	2024 (Q3)	0.78 / 0.85	1.63	-47.85% (-0.78)	―	―
Jul 24, 2024	2024 (Q2)	-2.36 / -1.99	0.38	-623.68% (-2.37)	―	―
Apr 24, 2024	2024 (Q1)	-0.20 / -0.10	-0.15	33.33% (+0.05)	―	―
Mar 05, 2024	2023 (Q4)	0.26 / 0.15	0.26	-42.31% (-0.11)	―	―
Oct 25, 2023	2023 (Q3)	0.47 / 1.63	0.45	262.22% (+1.18)	―	―
Jul 26, 2023	2023 (Q2)	0.12 / 0.38	-0.1	480.00% (+0.48)	―	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

TSE:ARE Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 31, 2025	C$18.75	C$19.34	+3.15%
Apr 23, 2025	C$17.21	C$15.52	-9.82%
Mar 05, 2025	C$21.82	C$18.32	-16.04%
Oct 31, 2024	C$22.57	C$26.78	+18.65%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does Aecon Group Inc. (TSE:ARE) report earnings?

Aecon Group Inc. (TSE:ARE) is schdueled to report earning on Oct 22, 2025, After Close (Confirmed).

What is Aecon Group Inc. (TSE:ARE) earnings time?

Aecon Group Inc. (TSE:ARE) earnings time is at Oct 22, 2025, After Close (Confirmed).

Where can I see when companies are reporting earnings?

You can see which companies are reporting today on our designated earnings calendar.

What companies are reporting earnings today?

You can see a list of the companies which are reporting today on TipRanks earnings calendar.

What is TSE:ARE EPS forecast?

TSE:ARE EPS forecast for the fiscal quarter 2025 (Q3) is 0.51.

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