NOA News & Events

Reports Q4 revenue $344.0M, consensus $311.83M. "2025 marked a year of record revenue for NACG, reflecting the continued growth and diversification of our global platform," CEO Barry Palmer commented. "However, earnings during the year were severely impacted by a number of extraordinary one-time project-level adjustments. Specific to the fourth quarter, we recognized a life-to-date adjustment for updated cost to complete of the structures, railroads and aqueducts within the Fargo-Moorhead flood diversion project. Notably, our portion of the project, the large-scale earthworks, have continued to perform well - as expected. In addition, above average rain events in Queensland had a negative impact late in the quarter. Looking ahead, we are entering 2026 with a very different, significantly more positive and stable outlook based on clear operational priorities and strong demand across our markets," Palmer continued.

Sees 2026 adjusted EBITDA $380M-$420M. "Our 2026 outlook is supported by strong visibility, with approximately $1.2 billion of revenue already secured, representing roughly 75% of our midpoint revenue guidance," said CFO Jason Veenstra. "Beyond that, we continue to see a promising bidding environment with a sizeable pipeline currently already in active tender and procurement processes. Based on historical performance and current operating plans, we expect a stable first half of 2026 fairly consistent with the Q4 run rate, excluding the Fargo impacts, followed by stronger second half of the year as newly commissioned equipment, IMC integration benefits, and typical seasonal activity drive increased performance."

North American Construction Group announced that Joe Lambert has resigned from his position as President and CEO of the Company to pursue other opportunities. Effective immediately, the Company's COO, Barry Palmer, has assumed the role of President and CEO. The Company has begun the process of assessing both internal and external candidates to assume the role on a permanent basis. Further to its press release on December 18, the Company confirms that closing activities related to its acquisition of Iron Mine Contracting remain on schedule, with a targeted closing of this quarter.