$13.130
-0.398 (-3.03%)At close
NOA News
NOA Events
North American Construction Secures $135M Contract
North American Construction announced that its wholly owned subsidiary ML Northern Services has been awarded a five-year heavy equipment services contract with a Canadian oil sands customer. The contract will service the customer's fleet of ultra-class and other large mining equipment by supplying the customer with mobile fuel services across their various mine sites. The contract is expected to commence on September 30 and reach full operational capacity in late 2026. With an expiry date of July 5, 2031, the contract is expected to add approximately $135M to the company's contractual backlog.
Sees 2026 Adjusted EBITDA of C$380M-C$420M
Sees 2026 adjusted EBITDA C$380M-C$420M.
Barry Palmer: Q1 Revenue at C$422.5M
Reports Q1 revenue C$422.5M vs. C$391.5M last year. "Our operations teams on both sides of the Pacific performed ahead of the expectations we had set entering the year. I am encouraged by their performance as the quarter reflected disciplined execution, improved operating focus, and, with that, early progress against the priorities we established for 2026 - in both our core regions of Australia and Canada," commented CEO Barry Palmer. "Due to the seasonal spring break-up in the oil sands region, historically generating a 15% revenue impact between Q1 and Q2, we maintain our original outlook for the second quarter and maintain our strong second half outlook which is immediately ahead of us with the task at hand to execute. I am looking forward to leading our teams through what I believe will be a very exciting 2026 and an even stronger 2027. Our business is positioned to generate the free cash flow that underpins our investment decisions and we will continue to steward that cash flow with strategic discipline for the benefit of our shareholders".
North American Construction Expands Contract with Australian Coal Producer, Expected Incremental Revenue of $125M
North American Construction announced earlier that its subsidiary MacKellar amended and expanded an existing five-year contract with a "leading metallurgical coal producer" in the state of Queensland, Australia. The previous contract, announced in August 2024, had transitioned equipment under contract from dry rental to fully maintained fleets and awarded the construction of an on-site maintenance facility. The amended and expanded five-year contract maintains the expiry date of September 30, 2029 and continues to qualify as contractual backlog based on minimum hour commitments in the agreement. The expanded scope, which includes additional fully maintained equipment and related services, is expected to generate $125M of incremental revenue and increases MacKellar's scope at that mine site by approximately 50%, North American Construction said. The company said the contract is consistent with its 2026 financial outlook previously contemplated. The expanded scope is set to commence May 1, and reach full run rate by August.. Of the thirteen additional units supporting this growth, eight Komatsu 240-ton haul trucks were already purchased in December 2025. The remaining five units are expected to be acquired as growth capital during the second and third quarters of 2026 at an estimated cost of approximately $25M.
Company Sees 2026 Adjusted EBITDA of C$380M-C$420M
Sees 2026 adjusted EBITDA C$380M-C$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."
This page is for research only and is not investment advice. Models can be wrong. Past performance does not guarantee future results.