Welcome to our dedicated page for North American Construction Group news (Ticker: NOA), a resource for investors and traders seeking the latest updates and insights on North American Construction Group stock.
North American Construction Group Ltd. reports developments in heavy civil construction and mining services for resource development and industrial construction customers in Canada, the United States, and Australia. Company news commonly covers operating and financial results, conference-call notices, contract awards and expansions, equipment fleet activity, and backlog tied to mining and earthworks work.
Updates also include Australian activity through MacKellar Group, governance matters such as annual and special meetings and director-nomination procedures, and corporate leadership or capital-structure disclosures when they affect the public company record.
North American Construction Group Ltd. (NOA) will announce its financial results for the year and fourth quarter ended December 31, 2020, on February 17, 2021, after market close. A conference call is scheduled for February 18, 2021, at 7:00 a.m. MT (9:00 a.m. ET) for discussing the results. Interested parties can join by dialing a toll-free number or by accessing the webcast. A slide deck will be available prior to the call. The company, a major provider of heavy construction and mining services in Canada, has been in operation for over 65 years.
North American Construction Group Ltd. (NOA) announced Joseph C. Lambert as the new President and CEO, effective January 1, 2021. Martin Ferron transitions to Executive Chairman, having served as CEO for over eight years. Lambert aims to lead the company's diversification strategy and capitalize on recovery from COVID-19 impacts. He has held various roles within the company since 2008 and brings extensive experience in mining support services. The company plans to release its inaugural Sustainability Report soon.
North American Construction Group Ltd. (NOA) reported Q3 2020 results, highlighting a revenue decline to $94.0 million from $166.3 million YoY, primarily due to COVID-19 impacts and wet weather in Fort McMurray. Adjusted EBITDA held steady at $37.1 million, with a gross profit margin of 16.3%. The company experienced a free cash flow usage of $17.0 million amid COVID-related operational changes. Despite challenges, a two-year, $250 million earthworks contract was awarded, and the credit facility was extended, bolstering liquidity to $142.3 million.
North American Construction Group has secured a significant $250 million earthworks contract for a gold mining project in Northern Ontario. This major two-year endeavor, awarded to a joint venture with Nuna Group, is set to commence this quarter and will peak in Q3 2021, concluding in fall 2022. The partnership aims to leverage both companies' strengths, emphasizing Indigenous collaboration. Joe Lambert, NACG's COO, noted the project as a pivotal move for economic growth and diversification.
North American Construction Group Ltd. (NOA) will release its Third Quarter financial results for 2020 on October 28, 2020, after market closure. A conference call is scheduled for October 29, 2020, at 7:00 a.m. MT (9:00 a.m. ET), accessible via toll-free or international dialing. A replay will be available until November 29, 2020. Investors can download a slide presentation prior to the call from the company's website. NACG has been a key player in heavy construction and mining services in Canada for over 65 years.
North American Construction Group Ltd. (NOA) has successfully expanded and extended its senior secured credit facility to $325 million, maturing on October 8, 2023. The amendment, guided by National Bank of Canada, aims to enhance liquidity amidst COVID-19 challenges. The company anticipates maintaining liquidity above $100 million throughout the agreement. The facility consists of a revolver with no scheduled repayments and allows for additional equipment financing of up to $150 million, improving borrowing flexibility.