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On November 2, 2020, Infrastructure and Energy Alternatives (IEA) announced a joint venture with F.H. Paschen for the West Lake Corridor rail expansion, valued at over $550 million. The project, awarded by the Northern Indiana Commuter Transportation District (NICTD), involves constructing an eight-mile rail extension and four new stations in Lake County, Indiana. Work began in October 2020, with completion expected in October 2024. This initiative aims to enhance connectivity to Chicago, promote local job creation, and incorporate sustainable practices.
Infrastructure and Energy Alternatives, Inc. (NASDAQ: IEA) will announce its Q3 2020 financial results on November 9, 2020, after market close. A conference call is scheduled for November 10 at 11:00 am ET to discuss these results. Investors can join the call by dialing designated numbers or via the company's investor website. IEA specializes in infrastructure construction with expertise in renewable energy and has completed over 200 projects in North America.
Infrastructure and Energy Alternatives (NASDAQ: IEA) has been awarded a $17 million construction contract by the California Department of Transportation for the rehabilitation of the Sacramento River Bridge. This project, executed by IEA’s subsidiary American Civil Constructors, involves significant structural upgrades, including demolition and a new barrier. Work begins this November, with completion expected by September 2021. IEA is recognized for its expertise in infrastructure, having completed over 200 utility-scale renewable energy projects across North America.
Infrastructure and Energy Alternatives (NASDAQ: IEA) has secured an EPC contract exceeding $100 million for a 302 MW wind farm in Northern Indiana. Construction started on August 24, 2020, with completion expected by November 2021, aiming to power over 83,000 homes. IEA’s subsidiary, White Construction, will manage all project aspects including engineering and procurement. Indiana ranks 12th nationally in wind capacity, with over 1,100 MW currently in construction. IEA has completed over 20 GW of renewable projects and is ranked #2 for wind construction by Engineering News-Record.
Infrastructure and Energy Alternatives (NASDAQ: IEA) announced its participation in the D.A. Davidson Virtual Diversified Industrials & Services Conference on September 22, 2020.
CEO JP Roehm and CFO Peter Moerbeek will engage in a fireside chat at 2:30 PM EDT, followed by one-on-one meetings with institutional investors. Investors can access the live audio and replay of the chat on IEA's Investor Relations website. Known for its expertise in renewable energy and civil infrastructure, IEA has delivered over 200 utility-scale wind and solar projects across North America.
Infrastructure and Energy Alternatives (IEA) has commenced construction on a solar farm in Texas under a $77 million contract. The project, expected to complete by June 2021, will see IEA self-performing all civil, mechanical, and electrical work. Texas ranks fifth in the U.S. for solar capacity, with over $6.5 billion invested so far. IEA also reported adding $233 million in new solar awards in the first half of 2020, highlighting growth in their solar backlog despite the investment tax credit expiration.
Infrastructure and Energy Alternatives, Inc. (NASDAQ: IEA) will release its financial results for Q2 2020 on August 10, following which a conference call is scheduled for August 11 at 11:00 AM ET. The call will discuss the quarterly results, accessible via phone or online. IEA, a top-tier renewable energy contractor, excels in infrastructure construction services and has completed over 200 wind and solar projects in North America.
Infrastructure and Energy Alternatives (IEA) reported strong financial results for Q1 2020, with revenue reaching $358.2 million, an increase of 88.7% year-over-year. The gross margin improved to 9.2%, up from 3.0% compared to the same period in 2019. The company's backlog stood at $2.0 billion, providing solid revenue visibility. Despite the challenges posed by COVID-19, IEA has faced no material impact and continues to affirm its 2020 revenue guidance of $1.5 billion to $1.65 billion and Adjusted EBITDA of $105 million to $125 million.
Infrastructure and Energy Alternatives, Inc. (NASDAQ: IEA) reported a strong Q1 2020, with revenue hitting $358.2 million, up 88.7% year-over-year. The gross margin improved to 9.2%, compared to 3.0% last year, reflecting better weather and increased project volume. The backlog stands at $2.0 billion, ensuring future revenue visibility. IEA has maintained cash reserves of $58.1 million with no long-term debt obligations until 2022. The company has yet to face material negative impacts from COVID-19 and reaffirms its full-year guidance for revenue between $1.50 billion to $1.65 billion.
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