The earnings call presented a mixed picture with strong growth and contract wins in Australia and a focus on safety and operational efficiency. However, the quarter faced significant challenges with higher maintenance costs, operational disruptions, and project margin adjustments. Despite these issues, the company remains optimistic about the second half of 2025 and beyond.

Company Guidance

In the North American Construction Group's second quarter 2025 conference call, the company reported an EBITDA of $80 million with a margin of 21.6%, influenced by higher-than-expected maintenance costs in Australia, operational disruptions in the oil sands, and margin adjustments at the Fargo project. Excluding these factors, EBITDA would have surpassed $100 million, with a typical margin of 27-28%. Revenue for the quarter reached $371 million, marking a 12% increase from the previous year, driven by a 14% rise in Australian revenue. The company maintained a gross profit margin of 10.7%, impacted by subcontractor costs and operational inefficiencies. Despite these challenges, the firm anticipates a strong second half, targeting a return to historical growth trends in 2026 with annual organic revenue growth of 5-10%. The company also reported net debt of $897 million, with a leverage ratio of 2.2x.

Record Revenue Growth in Australia

Australia posted $168 million in revenue for the quarter, more than double since Q2 2022. The MacKellar Group set a company record with $60 million in June alone, indicating strong demand and growth trajectory.

Strong Safety Performance

The total recordable incident rate of 0.42 remains better than the industry target, showcasing NACG's commitment to safety and operational efficiency.

Major Contract Wins and Renewals

NACG won the biggest contract in company history post-Q2, achieving a record backlog and a 100% renewal rate in Australia. Additionally, the Texas thermal coal mine management contract was renewed until 2028.

Successful Financing

Completion of a $225 million offering of senior unsecured notes provides liquidity for future growth opportunities.

North American Construction Group (TSE:NOA) 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:NOA Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Feb 18, 2026	2025 (Q4)	- / -	0.19	―	―	―
Aug 13, 2025	2025 (Q2)	0.66 / 0.33	0.47	-29.79% (-0.14)
May 14, 2025	2025 (Q1)	0.65 / 0.21	0.39	-46.15% (-0.18)
Mar 19, 2025	2024 (Q4)	1.03 / 0.19	0.58	-67.24% (-0.39)
Oct 30, 2024	2024 (Q3)	0.95 / 0.47	0.39	20.51% (+0.08)
Jul 31, 2024	2024 (Q2)	0.86 / 0.47	0.42	11.90% (+0.05)
May 01, 2024	2024 (Q1)	0.64 / 0.39	0.71	-45.07% (-0.32)
Mar 13, 2024	2023 (Q4)	1.02 / 0.58	0.84	-30.95% (-0.26)
Nov 01, 2023	2023 (Q3)	0.53 / 0.39	0.65	-40.00% (-0.26)
Jul 26, 2023	2023 (Q2)	0.36 / 0.42	0.25	68.00% (+0.17)

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:NOA Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Aug 13, 2025	C$22.84	C$17.68	-22.58%
May 14, 2025	C$23.24	C$23.77	+2.25%
Mar 19, 2025	C$24.59	C$23.41	-4.79%
Oct 30, 2024	C$23.43	C$26.59	+13.45%

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 North American Construction Group Ltd (TSE:NOA) report earnings?

North American Construction Group Ltd (TSE:NOA) is schdueled to report earning on Feb 18, 2026, After Close (Confirmed).

What is North American Construction Group Ltd (TSE:NOA) earnings time?

North American Construction Group Ltd (TSE:NOA) earnings time is at Feb 18, 2026, After Close (Confirmed).

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