North American C Stock Price, News & Analysis

North American Construction Group Ltd. (NOA) announced plans to initiate a normal course issuer bid (NCIB) to repurchase up to 2,113,054 common shares, representing about 10% of the public float. This bid aims to enhance shareholder value and liquidity, as the company believes its current market price does not reflect underlying value. The NCIB is set to commence around April 11, 2022, and will be conducted through the TSX and NYSE.

North American Construction Group Ltd. (NOA) has secured a five-year contract valued at approximately $125 million with Mikisew North American Limited Partnership, enhancing its backlog, which now totals $1.7 billion. This partnership will contribute significantly to NACG's operational visibility and is expected to represent about one-third of the work over the contract’s term, extending until March 2027. Key executives from both companies expressed optimism about the collaboration, emphasizing its benefits for Indigenous partnerships and market leadership in heavy civil construction.

North American Construction Group Ltd. (NOA) reported a strong Q4 2021, with revenues of $181.0 million, up from $136.1 million YoY, driven by increased demand at Fort Hills and Kearl mines, and the DGI acquisition. Net income rose to $15.3 million, advancing adjusted EBITDA to $56.3 million for the quarter, and $207.3 million for the full year, marking recovery to pre-pandemic levels. However, gross profit margin declined to 12.7% from 16.6% due to higher maintenance costs. Free cash flow reached $48.3 million, supporting a dividend increase to $0.32 annually.

North American Construction Group Ltd. (NOA) will release its financial results for Q4 and the full year ending December 31, 2021, on February 16, 2022, after market close. A conference call and webcast will follow on February 17, 2022, at 7:00 AM MT (9:00 AM ET). Interested parties can access the call by dialing 1-844-248-9143 (toll-free) or 1-216-539-8612 (international), using Conference ID 2060308. A replay will be available until March 19, 2022. Further details, including a presentation slide deck, will be accessible on the company’s website.

North American Construction Group Ltd. reported a tragic incident at the Millennium mine in Fort McMurray, Alberta, where an employee was fatally injured during a collision involving two haul trucks on Jan. 6, 2022. Emergency response teams arrived at approximately 6:30 a.m. Following the incident, the company will conduct a thorough investigation in collaboration with its client and relevant authorities. CEO Joe Lambert expressed deep sorrow over the loss and emphasized the company's commitment to supporting the affected family and employees during this difficult time.

North American Construction Group reported strong third quarter 2021 results, with revenue of $166 million, up from $93.6 million in Q3 2020. Key highlights include adjusted EBITDA of $47.5 million, reflecting a 28% year-over-year increase, and free cash flow of $10 million. Gross profit margin fell to 13.1% due to COVID-19 impacts and equipment maintenance costs. The company anticipates revenue of approximately $275 million from a contract extension and $175 million from a contract amendment. A quarterly dividend of $0.04 per share was also declared.

North American Construction Group Ltd. (NOA) will announce its Third Quarter financial results on October 27, 2021, after market close. A conference call is scheduled for October 28, 2021, at 7:00 a.m. MT (9:00 a.m. ET). Investors can join the call by dialing 1-844-248-9143 (toll-free) or 1-216-539-8612 (international). A replay will be available until November 28, 2021. More details and a slide deck will be accessible on the company's website.

North American Construction Group Ltd. (NOA) announced the financial close of the Red River flood mitigation project in partnership with Acciona and Shikun & Binui. This milestone, achieved slightly ahead of schedule, allows the consortium to design, build, finance, operate, and maintain the flood diversion channel for 29 years. A Green Financing Framework has been established, with bonds rated 'Baa3' by Moody's. This project is significant for NACG as it strengthens its position in the infrastructure market and promotes climate resilience.

North American Construction Group Ltd. (NOA) announced an extension of its senior secured credit facility, now maturing on October 8, 2024. The facility retains a borrowing capacity of $325 million, with an option to increase it by $50 million. The extension includes favorable terms allowing more flexibility for joint ventures, especially in public-private partnerships. CFO Jason Veenstra expressed gratitude toward financial partners for their support, which is crucial for implementing the company's diversification strategy and growing its project backlog.