North American Construction Group(US:NOA) Globenewswire·2026-03-11 21:52Core Insights - North American Construction Group Ltd. (NACG) reported record revenue for 2025, but earnings were significantly affected by extraordinary one-time project-level adjustments, particularly in the Fargo-Moorhead flood diversion project [4][5][6] - The company anticipates a more stable and positive outlook for 2026, driven by strong demand across its markets and operational priorities focused on efficiency and growth [4][10][14] Financial Highlights - Combined revenue for Q4 2025 was $344.0 million, a decrease of 7.7% compared to the previous year [5][15] - Adjusted EBITDA for Q4 2025 was $77.6 million, down 28.7% year-over-year [5][15] - Adjusted EPS was $(0.14), a significant decline from $1.01 in Q4 2024 [5][7] Operational Highlights - The company achieved a 10% year-over-year revenue increase in its Australian operations, attributed to higher volumes from new growth assets and strong site performance [5][10] - The Fargo-Moorhead project is nearing 85% completion, but faced approximately $50 million in cost increases due to project adjustments [5][6] - The acquisition of Iron Mine Contracting is expected to enhance NACG's position as a Tier 1 contractor in Australia [5][10] Outlook for 2026 - The company projects combined revenue for 2026 to be between $1.5 billion and $1.7 billion, with adjusted EBITDA expected to range from $380 million to $420 million [12][14] - A strong proforma contractual backlog of $3.9 billion supports the 2026 outlook, with $1.2 billion of revenue already secured [12][14] - The company aims to optimize operations, reduce costs, and improve mechanical availability in its oil sands region to capture ongoing demand for mining services [4][10][11]