North American Construction Group(NOA) - 2024 Q2 - Earnings Call Presentation

Financial Performance - Combined revenue reached $330 million in Q2 2024[9], compared to $279 million in Q2 2023[10], representing an increase of $52 million[10] - Adjusted EBITDA for Q2 2024 was $87 million[9], a 70% increase compared to the previous Q2[9] - Adjusted EPS increased to $0.78, up from $0.47 in Q2 2023, representing an increase of $0.31[12] - Combined gross profit margin significantly improved to 183% in Q2 2024[11] Operational Highlights - MacKellar Group achieved record-setting revenue in May due to effective fleet operation[7] - Nuna Group returned to profitability for the quarter[7] - Equipment utilization in Australia was 82% in Q2 2024[10] - The company's contractual backlog stands at $28 billion[20] Outlook and Capital Allocation - The company updated its 2024 outlook, projecting combined revenue between $14 billion and $15 billion[23], adjusted EBITDA between $395 million and $415 million[23], and adjusted EPS between $395 and $415[23] - Free cash flow is projected to be between $100 million and $120 million[23] - Net debt leverage is targeted at 18x[24] - The replacement value of the heavy equipment fleet is estimated at $35 billion[31]