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Aecon Group Inc. (TSE:ARE)
TSX:ARE
Holding TSE:ARE?
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Earnings Data
Report Date
Mar 05, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
0.45Last Year’s EPS
0.15Same Quarter Last Year
Moderate Buy
Based on 10 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 25, 2018
|% Change Since: 9.64%
|Next Earnings Date:Jul 26, 2018
Earnings Call Sentiment|Neutral
The earnings call highlighted Aecon Group's strategic growth through increased revenue, a strong pipeline of new contracts, and a significant acquisition to boost its nuclear and U.S. operations. However, there were notable challenges, including a decline in operating profit and backlog, and reduced revenue from the Concessions segment. The sentiment of the call is balanced by the positive future outlook and strategic initiatives.Company Guidance
In the third quarter of 2024 earnings call for Aecon Group, the executives provided guidance that highlighted a reported revenue of $1.3 billion, which was a 3% increase compared to the same period in 2023. Adjusted EBITDA was $127 million, with a margin of 10%, a notable improvement from the previous year's margin of 2.6%. The company reported an operating profit of $81 million, down from $140 million in the prior year, primarily due to the net impact from the legacy losses and the gain from the sale of a 49.9% interest in Skyport in 2023. Adjusted diluted earnings per share were $0.86, compared to $1.63 last year. The backlog at the end of the quarter was $6 billion, with new contract awards totaling $1.1 billion, up from $591 million in the previous year. The company emphasized its strategy to leverage its self-perform capabilities and focus on sectors such as utilities and nuclear, which accounted for approximately 45% of its construction revenue. Aecon also outlined its commitment to growing its presence in the U.S. and international markets and its focus on achieving further revenue growth and improved profitability in the coming years.Increased Revenue and EBITDA
Revenue for Q3 2024 was $1.3 billion, a 3% increase compared to Q3 2023. Adjusted EBITDA increased significantly to $127 million, a margin of 10% compared to $32 million, a margin of 2.6% in the same quarter last year.
Strong New Contract Awards
New contract awards for Q3 2024 were $1.1 billion, nearly doubling from $591 million in Q3 2023.
Strategic Acquisition
Aecon entered into an agreement to acquire United Engineers & Construction, Inc., enhancing its nuclear capabilities and U.S. market presence.
Successful Project Progress
Progress on major projects like the Gordie Howe Bridge and Finch LRT is on track, with substantial completion expected in early 2025.
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TSE:ARE Earnings History
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
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TSE:ARE Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 31, 2024 | C$23.03 | C$27.33 | +18.67% |
| Jul 24, 2024 | C$13.96 | C$14.56 | +4.30% |
| Apr 24, 2024 | C$16.25 | C$16.64 | +2.40% |
| Mar 05, 2024 | C$13.96 | C$15.62 | +11.89% |
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.
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FAQ
When does Aecon Group Inc. (TSE:ARE) report earnings?
Aecon Group Inc. (TSE:ARE) is schdueled to report earning on Mar 05, 2025, TBA Not Confirmed.
What is Aecon Group Inc. (TSE:ARE) earnings time?
Aecon Group Inc. (TSE:ARE) earnings time is at Mar 05, 2025, TBA Not 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 2024 (Q4) is 0.45.
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