RY 172.7 -0.1792% SHOP 152.38 -3.7762% TD 74.49 -0.4144% ENB 58.66 0.2906% BN 80.21 0.2124% TRI 235.76 -0.7034% CNQ 42.27 -1.3305% CP 102.81 -2.4851% CNR 145.02 -0.9426% BMO 139.15 0.5855% BNS 77.045 -0.149% CSU 4497.2998 0.6756% CM 92.23 -0.335% MFC 43.28 0.8858% ATD 79.0 -1.1882% NGT 53.35 -1.8038% TRP 65.26 0.215% SU 49.61 -1.411% WCN 251.65 -0.2181% L 191.14 0.1205%
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North American Construction Group (TSX: NOA) Projects FY24 Revenue Between CAD 1.4-1.5Bn
Highlights
North American Construction Group Ltd. (TSX: NOA) provides a range of mining and heavy construction services.
In Q3 2024, the company achieved a revenue of CAD 286.8 million, an increase of 45.7% compared to CAD 196.8 million in the prior corresponding period (pcp). This growth was mainly driven by strong equipment utilization in Australia. Alongside this revenue increase, operating income jumped by 276.2%, reaching CAD 53.8 million from CAD 14.3 million in pcp. This improvement was mainly due to the higher revenue, although it was partially hampered by higher depreciation costs.
NOA’s income before income taxes rose by 57.3%. This increase was primarily due to higher operating income, though it was partly reduced by higher interest costs and changes in the fair value of contingent obligations. As a result, the company's net income grew by 23.0%, reaching CAD 13.9 million, up from CAD 11.3 million in pcp.
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