Welcome to our dedicated page for North American C news (Ticker: NOA), a resource for investors and traders seeking the latest updates and insights on North American C stock.
North American Construction Group Ltd. (NOA) generates frequent news due to its role in heavy civil construction and mining services across Canada, Australia and the United States. Company announcements cover operational performance, major contract awards, acquisitions, financing transactions and infrastructure initiatives, giving investors and industry followers insight into how the business is evolving.
Regular quarterly earnings releases and accompanying MD&A provide updates on combined revenue, adjusted EBITDA, free cash flow and segment performance for Heavy Equipment – Canada, Heavy Equipment – Australia and joint ventures. These releases often explain how factors such as weather, equipment utilization, labour availability and project mix influence margins and cash generation.
News items also highlight major contract developments, including the extension of a multi‑year mine services contract in Queensland that the company describes as the largest in its history, as well as progress on the Fargo-Moorhead flood diversion project and other infrastructure scopes. Updates on the MacKellar Group and its Australian operations, along with new work at copper and other resource projects, feature prominently.
Corporate and capital markets news includes senior unsecured note offerings, changes in debt structure, share repurchase activity under normal course issuer bids and dividend declarations. Strategic updates, such as the planned acquisition of Iron Mine Contracting in Western Australia and fleet optimization transactions, are also disclosed through news releases.
By following NOA news, readers can track trends in backlog, geographic and commodity diversification, capital allocation decisions and the company’s positioning in mining and infrastructure markets. This page aggregates these updates in one place so users can review historical announcements and monitor new developments as they are reported.
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.
North American Construction Group Ltd. (NOA) announced a significant contract award to Mikisew North American Limited Partnership by a major oil sands producer. This contract extends their existing agreement to December 2023 and is expected to generate approximately $275 million in revenue. NACG's backlog has now reached a record $1.9 billion, demonstrating growth in its oil sands business and Indigenous partnerships. The company aims to enhance equipment utilization and diversify its customer base across various regions and commodities.
North American Construction Group Ltd. (NOA) reported Q2 2021 results showing revenue of $140.2 million, a significant rise from $70.8 million in Q2 2020, driven by recovering demand post-COVID-19. Adjusted EBITDA increased to $42.4 million, up 33% year-over-year. However, gross profit margin fell to 10.9% due to increased equipment maintenance and labor shortages. The company announced the acquisition of DGI Trading for $23.5 million and secured a $650 million Fargo-Moorhead flood diversion contract. A quarterly dividend of CAD $0.04 per share was declared, payable on October 8, 2021.
North American Construction Group Ltd. (NOA) announced a contract amendment with Mikisew North American Limited Partnership, expected to generate approximately $175 million in additional revenue through December 2023. This amendment reflects the company's strong relationship with a key customer in the oil sands sector. President Joe Lambert highlighted the importance of safe operations and a low-cost culture in securing this contract, indicating ongoing trust from industry partners.
North American Construction Group Ltd. (NOA) will release its Q2 financial results on July 28, 2021, after market close.
A conference call is scheduled for July 29, 2021, at 7:00 a.m. MT (9:00 a.m. ET) to discuss the results.
Investors can access the call by dialing 1-844-248-9143 (toll-free) or 1-216-539-8612 (international).
A replay will be available until August 26, 2021. Additional presentation materials will be accessible on the company’s website.
North American Construction Group has been awarded a US$2.75 billion flood mitigation project in the U.S., marking its largest infrastructure initiative to date. The project involves a 30-mile river diversion channel to protect the Fargo-Moorhead area from flooding. NACG predicts a revenue share of approximately C$600 million over the contract's duration, which spans 29 years. This undertaking aligns with NACG's strategy for diversification and climate-resilient infrastructure, aiming to safeguard over 235,000 residents against catastrophic floods.
North American Construction Group Ltd. (NOA) announced an agreement to acquire DGI Trading Pty Limited for approximately $23.5 million. DGI, located in Australia, supplies essential components to the mining sector. The acquisition aims to enhance vertical integration and diversify NACG's service offerings. The purchase price correlates to DGI's net tangible assets and includes earn-out payments based on DGI's future earnings. The transaction is expected to close on July 1, 2021, and will be funded through existing debt facilities.
North American Construction Group Ltd. (NOA) has successfully closed the underwriters' over-allotment option, raising an additional $9.75 million from the sale of 5.50% convertible unsecured subordinated debentures. This follows their recent offering, bringing total gross proceeds to $74.75 million. The funds will primarily be used to repay senior indebtedness under their revolving credit facility. The debentures will not be registered under U.S. Securities Act and cannot be sold in the U.S. without an exemption.
North American Construction Group Ltd. (NOA) has announced that underwriters fully exercised an over-allotment option, leading to an additional purchase of $9.75 million of its 5.50% convertible unsecured subordinated debentures. This brings the total gross proceeds from the offering to $74.75 million. The proceeds will primarily be used to repay senior debt under its revolving credit facility.