View Financial HealthNorth American Construction Group 配当と自社株買い配当金 基準チェック /46North American Construction Groupは配当を支払う会社で、現在の利回りは2.35%ですが、利益によって十分にカバーされています。次の支払い日は 3rd July, 2026で、権利落ち日は3rd June, 2026 。主要情報2.4%配当利回り9.3%バイバック利回り総株主利回り11.6%将来の配当利回り2.4%配当成長20.2%次回配当支払日03 Jul 26配当落ち日03 Jun 26一株当たり配当金n/a配当性向41%最近の配当と自社株買いの更新Declared Dividend • May 17First quarter dividend of CA$0.12 announcedShareholders will receive a dividend of CA$0.12. Ex-date: 3rd June 2026 Payment date: 3rd July 2026 Dividend yield will be 2.5%, which is higher than the industry average of 2.3%. Sustainability & Growth Dividend is covered by earnings (41% earnings payout ratio) but not covered by cash flows (dividend approximately 7x free cash flows). The dividend has increased by an average of 20% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 130% over the next 3 years, which should provide support to the dividend and adequate earnings cover.Declared Dividend • Mar 15Fourth quarter dividend of CA$0.12 announcedShareholders will receive a dividend of CA$0.12. Ex-date: 26th March 2026 Payment date: 9th April 2026 Dividend yield will be 3.0%, which is higher than the industry average of 2.3%. Sustainability & Growth Dividend is covered by earnings (41% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 20% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 142% over the next 3 years, which should provide support to the dividend and adequate earnings cover.Declared Dividend • Nov 16Third quarter dividend of CA$0.12 announcedShareholders will receive a dividend of CA$0.12. Ex-date: 26th November 2025 Payment date: 9th January 2026 Dividend yield will be 2.7%, which is higher than the industry average of 2.3%. Sustainability & Growth Dividend is covered by earnings (9% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 20% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 74% over the next 2 years, which should provide support to the dividend and adequate earnings cover.お知らせ • Nov 13+ 1 more updateNorth American Construction Group Ltd. Declares Regular Quarterly Dividend, Payable on January 9, 2026On November 10, 2025, the North American Construction Group Ltd. Board of Directors declared a regular quarterly dividend (the “Dividend”) of twelve Canadian cents (CAD 0.12) per common share, payable to common shareholders of record at the close of business on November 26, 2025. The Dividend will be paid on January 9, 2026, and is an eligible dividend for Canadian income tax purposes.Declared Dividend • Aug 17Second quarter dividend of CA$0.12 announcedShareholders will receive a dividend of CA$0.12. Ex-date: 29th August 2025 Payment date: 3rd October 2025 Dividend yield will be 3.1%, which is higher than the industry average of 2.3%. Sustainability & Growth Dividend is covered by earnings (37% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 20% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 126% over the next 3 years, which should provide support to the dividend and adequate earnings cover.お知らせ • Aug 14+ 1 more updateNorth American Construction Group Ltd. Declares Quarterly Dividend, Payable on October 3, 2025On August 12th, 2025, North American Construction Group Ltd. Board of Directors declared a regular quarterly dividend (the “Dividend”) of twelve Canadian cents ($0.12) per common share, payable to common shareholders of record at the close of business on August 29, 2025. The Dividend will be paid on October 3, 2025, and is an eligible dividend for Canadian income tax purposes.すべての更新を表示Recent updatesRecent Insider Transactions • May 20Independent Chairman of the Board recently bought US$149k worth of stockOn the 19th of May, Martin Ferron bought around 10k shares on-market at roughly US$14.86 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Martin has been a buyer over the last 12 months, purchasing a net total of US$298k worth in shares.Declared Dividend • May 17First quarter dividend of CA$0.12 announcedShareholders will receive a dividend of CA$0.12. Ex-date: 3rd June 2026 Payment date: 3rd July 2026 Dividend yield will be 2.5%, which is higher than the industry average of 2.3%. Sustainability & Growth Dividend is covered by earnings (41% earnings payout ratio) but not covered by cash flows (dividend approximately 7x free cash flows). The dividend has increased by an average of 20% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 130% over the next 3 years, which should provide support to the dividend and adequate earnings cover.お知らせ • May 15+ 1 more updateNorth American Construction Group Ltd. Maintains Earnings Guidance for the Year 2026North American Construction Group Ltd. maintained earnings guidance for the year 2026. For the year, the company maintained combined revenue of $1.5 billion to $1.7 billion.Reported Earnings • May 14First quarter 2026 earnings: EPS misses analyst expectationsFirst quarter 2026 results: EPS: CA$0.20 (down from CA$0.22 in 1Q 2025). Revenue: CA$319.2m (down 6.3% from 1Q 2025). Net income: CA$5.55m (down 9.9% from 1Q 2025). Profit margin: 1.7% (in line with 1Q 2025). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 46%. Revenue is forecast to grow 8.5% p.a. on average during the next 2 years, compared to a 5.8% growth forecast for the Energy Services industry in the US. Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings.お知らせ • Apr 28North American Construction Group Ltd. to Report Q1, 2026 Results on May 13, 2026North American Construction Group Ltd. announced that they will report Q1, 2026 results After-Market on May 13, 2026お知らせ • Apr 08North American Construction Group Ltd. (TSX:NOA) completed the acquisition of Iron Mine Contracting Pty Ltd for approximately CAD 120 million.North American Construction Group Ltd. (TSX:NOA) entered into a definitive share purchase agreement to acquire Iron Mine Contracting Pty Ltd for approximately CAD 120 million on December 18, 2025. The acquisition is expected to be significantly accretive, increasing NACG’s incremental earnings per share by approximately 20% in 2026. The Transaction will be fully funded by senior-secured bank financing (65% of the purchase price) and vendor-provided debt financing (35% of the purchase price). The estimated upfront payment of approximately CAD 40 million will be funded by North American Construction Group Ltd’s existing revolving credit facility. In addition, NACG plans to assume secured equipment financing of CAD 35 million. The remaining CAD 40 million of the consideration will be addressed through structured earn-out and deferred payment mechanisms payable to the vendors over the next four years. The Transaction is subject to satisfaction of certain regulatory and other customary closing conditions and is expected to close in the first quarter of 2026. National Bank of Canada Financial Markets acted as financial advisor for North American Construction Group Ltd. Fasken Martineau DuMoulin LLP acted as legal advisor for North American Construction Group Ltd. MinterEllison acted as legal advisor for North American Construction Group Ltd. North American Construction Group Ltd. (TSX:NOA) completed the acquisition of Iron Mine Contracting Pty Ltd for on April 7, 2026.Recent Insider Transactions • Mar 19Independent Lead Director recently bought US$52k worth of stockOn the 16th of March, Bryan Pinney bought around 4k shares on-market at roughly US$13.07 per share. This transaction amounted to 20% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought US$1.2m more in shares than they have sold in the last 12 months.Valuation Update With 7 Day Price Move • Mar 18Investor sentiment deteriorates as stock falls 19%After last week's 19% share price decline to US$13.51, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 19x in the Energy Services industry in the US. Total loss to shareholders of 11% over the past three years.Seeking Alpha • Mar 17Stronger Backlog, Higher Leverage: North American Construction's Strategy TestedSummary North American Construction (NOA) is expanding aggressively in Australia, leveraging the IMC acquisition to boost its mining contractor platform and backlog by ~30%. NOA’s backlog reached $3.9 billion, with management projecting 7% revenue and 12% adjusted EBITDA growth for FY2026, driven by IMC synergies. Following a 20% stock price drop and underpriced valuation multiples, I upgrade my rating to 'Hold' on improved backlog momentum but elevated financial risk. Read the full article on Seeking AlphaDeclared Dividend • Mar 15Fourth quarter dividend of CA$0.12 announcedShareholders will receive a dividend of CA$0.12. Ex-date: 26th March 2026 Payment date: 9th April 2026 Dividend yield will be 3.0%, which is higher than the industry average of 2.3%. Sustainability & Growth Dividend is covered by earnings (41% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 20% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 142% over the next 3 years, which should provide support to the dividend and adequate earnings cover.New Risk • Mar 12New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 86% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.9x net interest cover). Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.6% net profit margin).Reported Earnings • Mar 12Full year 2025 earnings: EPS misses analyst expectationsFull year 2025 results: EPS: CA$1.18 (down from CA$1.65 in FY 2024). Revenue: CA$1.28b (up 10% from FY 2024). Net income: CA$33.8m (down 23% from FY 2024). Profit margin: 2.6% (down from 3.8% in FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 32%. Revenue is forecast to grow 4.7% p.a. on average during the next 2 years, compared to a 4.0% growth forecast for the Energy Services industry in the US. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings.お知らせ • Mar 12+ 1 more updateNorth American Construction Group Ltd. Provides Earnings Guidance for the outlook the year 2026North American Construction Group Ltd. provided earnings guidance for the outlook the year 2026. For the period, the company expects Combined revenue to be in the range of $1.5 Billion to $1.7 Billion.お知らせ • Feb 19North American Construction Group Ltd. to Report Q4, 2025 Results on Mar 11, 2026North American Construction Group Ltd. announced that they will report Q4, 2025 results at 4:00 PM, US Eastern Standard Time on Mar 11, 2026お知らせ • Feb 17North American Construction Group Ltd., Annual General Meeting, May 20, 2026North American Construction Group Ltd., Annual General Meeting, May 20, 2026.お知らせ • Jan 22+ 1 more updateNorth American Construction Group Ltd. Announces CEO ChangesNorth American Construction Group Ltd. announced that Joe Lambert has resigned from his position as Chief Executive Officer of the Company to pursue other opportunities. Effective immediately, the Company's Chief Operating Officer, Barry Palmer, has assumed the role of Chief Executive Officer. The Company has begun the process of assessing both internal and external candidates to assume the role on a permanent basis.お知らせ • Dec 20North American Construction Group Ltd. (TSX:NOA) entered into a definitive share purchase agreement to acquire Iron Mine Contracting Pty Ltd for approximately CAD 120 million.North American Construction Group Ltd. (TSX:NOA) entered into a definitive share purchase agreement to acquire Iron Mine Contracting Pty Ltd for approximately CAD 120 million on December 18, 2025. The acquisition is expected to be significantly accretive, increasing NACG’s incremental earnings per share by approximately 20% in 2026. The Transaction will be fully funded by senior-secured bank financing (65% of the purchase price) and vendor-provided debt financing (35% of the purchase price). The estimated upfront payment of approximately CAD 40 million will be funded by North American Construction Group Ltd’s existing revolving credit facility. In addition, NACG plans to assume secured equipment financing of CAD 35 million. The remaining CAD 40 million of the consideration will be addressed through structured earn-out and deferred payment mechanisms payable to the vendors over the next four years. The Transaction is subject to satisfaction of certain regulatory and other customary closing conditions and is expected to close in the first quarter of 2026. National Bank of Canada Financial Markets acted as financial advisor for North American Construction Group Ltd. Fasken Martineau DuMoulin LLP acted as legal advisor for North American Construction Group Ltd. MinterEllison acted as legal advisor for North American Construction Group Ltd.Declared Dividend • Nov 16Third quarter dividend of CA$0.12 announcedShareholders will receive a dividend of CA$0.12. Ex-date: 26th November 2025 Payment date: 9th January 2026 Dividend yield will be 2.7%, which is higher than the industry average of 2.3%. Sustainability & Growth Dividend is covered by earnings (9% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 20% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 74% over the next 2 years, which should provide support to the dividend and adequate earnings cover.Reported Earnings • Nov 14Third quarter 2025 earnings: EPS and revenues miss analyst expectationsThird quarter 2025 results: EPS: CA$0.59 (up from CA$0.52 in 3Q 2024). Revenue: CA$317.2m (up 11% from 3Q 2024). Net income: CA$17.3m (up 24% from 3Q 2024). Profit margin: 5.5% (up from 4.8% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 2.4%. Earnings per share (EPS) also missed analyst estimates by 10%. Revenue is forecast to grow 6.0% p.a. on average during the next 3 years, compared to a 3.6% growth forecast for the Energy Services industry in the US. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings.お知らせ • Nov 13+ 1 more updateNorth American Construction Group Ltd. Declares Regular Quarterly Dividend, Payable on January 9, 2026On November 10, 2025, the North American Construction Group Ltd. Board of Directors declared a regular quarterly dividend (the “Dividend”) of twelve Canadian cents (CAD 0.12) per common share, payable to common shareholders of record at the close of business on November 26, 2025. The Dividend will be paid on January 9, 2026, and is an eligible dividend for Canadian income tax purposes.お知らせ • Oct 17North American Construction Group Ltd. to Report Q3, 2025 Results on Nov 12, 2025North American Construction Group Ltd. announced that they will report Q3, 2025 results After-Market on Nov 12, 2025Recent Insider Transactions • Aug 22Independent Chairman of the Board recently bought US$264k worth of stockOn the 20th of August, Martin Ferron bought around 21k shares on-market at roughly US$12.40 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Martin has been a buyer over the last 12 months, purchasing a net total of US$658k worth in shares.Valuation Update With 7 Day Price Move • Aug 20Investor sentiment deteriorates as stock falls 23%After last week's 23% share price decline to US$12.98, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 13x in the Energy Services industry in the US. Total returns to shareholders of 14% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$5.36 per share.Declared Dividend • Aug 17Second quarter dividend of CA$0.12 announcedShareholders will receive a dividend of CA$0.12. Ex-date: 29th August 2025 Payment date: 3rd October 2025 Dividend yield will be 3.1%, which is higher than the industry average of 2.3%. Sustainability & Growth Dividend is covered by earnings (37% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 20% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 126% over the next 3 years, which should provide support to the dividend and adequate earnings cover.Reported Earnings • Aug 14Second quarter 2025 earnings: EPS and revenues miss analyst expectationsSecond quarter 2025 results: EPS: CA$0.35 (down from CA$0.52 in 2Q 2024). Revenue: CA$320.6m (up 16% from 2Q 2024). Net income: CA$10.3m (down 27% from 2Q 2024). Profit margin: 3.2% (down from 5.1% in 2Q 2024). Revenue missed analyst estimates by 3.1%. Earnings per share (EPS) also missed analyst estimates by 52%. Revenue is forecast to grow 4.9% p.a. on average during the next 2 years, compared to a 3.2% growth forecast for the Energy Services industry in the US. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings.お知らせ • Aug 14+ 1 more updateNorth American Construction Group Ltd. Declares Quarterly Dividend, Payable on October 3, 2025On August 12th, 2025, North American Construction Group Ltd. Board of Directors declared a regular quarterly dividend (the “Dividend”) of twelve Canadian cents ($0.12) per common share, payable to common shareholders of record at the close of business on August 29, 2025. The Dividend will be paid on October 3, 2025, and is an eligible dividend for Canadian income tax purposes.お知らせ • Jul 18North American Construction Group Ltd. to Report Q2, 2025 Results on Aug 13, 2025North American Construction Group Ltd. announced that they will report Q2, 2025 results After-Market on Aug 13, 2025New Risk • Jul 05New minor risk - Insider sellingThere has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: US$181k This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.5x net interest cover). Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (3.2% net profit margin). Significant insider selling over the past 3 months (US$181k sold).Recent Insider Transactions • Jun 18Independent Chairman of the Board recently sold US$181k worth of stockOn the 10th of June, Martin Ferron sold around 10k shares on-market at roughly US$18.09 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Despite the recent sale, Martin has been a net buyer over the last 12 months, purchasing a net total of US$957k worth of shares.Declared Dividend • May 18First quarter dividend of CA$0.12 announcedShareholders will receive a dividend of CA$0.12. Ex-date: 4th June 2025 Payment date: 11th July 2025 Dividend yield will be 2.1%, which is lower than the industry average of 2.3%. Sustainability & Growth Dividend is covered by earnings (29% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 20% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 128% over the next 3 years, which should provide support to the dividend and adequate earnings cover.Reported Earnings • May 16First quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behindFirst quarter 2025 results: EPS: CA$0.22 (down from CA$0.42 in 1Q 2024). Revenue: CA$340.8m (up 15% from 1Q 2024). Net income: CA$6.16m (down 46% from 1Q 2024). Profit margin: 1.8% (down from 3.8% in 1Q 2024). Revenue exceeded analyst estimates by 15%. Earnings per share (EPS) missed analyst estimates by 71%. Revenue is forecast to grow 5.8% p.a. on average during the next 2 years, compared to a 2.9% growth forecast for the Energy Services industry in the US. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings.お知らせ • May 15+ 1 more updateNorth American Construction Group Ltd. Declares Regular Quarterly Dividend, Payable on July 11, 2025North American Construction Group Ltd. board declared a regular quarterly dividend of CAD 0.12 per common share, payable to common shareholders of record at the close of business on June 4, 2025. The Dividend will be paid on July 11, 2025.お知らせ • Apr 21North American Construction Group Ltd. to Report Q1, 2025 Results on May 14, 2025North American Construction Group Ltd. announced that they will report Q1, 2025 results at 4:00 PM, US Eastern Standard Time on May 14, 2025Valuation Update With 7 Day Price Move • Apr 08Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to US$13.44, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 11x in the Energy Services industry in the US. Total loss to shareholders of 2.5% over the past three years.Recent Insider Transactions • Mar 28Chairman of the Board recently bought US$65k worth of stockOn the 24th of March, Martin Ferron bought around 4k shares on-market at roughly US$16.30 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Martin has been a buyer over the last 12 months, purchasing a net total of US$192k worth in shares.New Risk • Mar 20New major risk - Financial positionThe company's interest payments are not well covered by earnings. Net interest cover: 2.6x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.6x net interest cover). Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (3.8% net profit margin). Significant insider selling over the past 3 months (US$668k sold).Reported Earnings • Mar 20Full year 2024 earnings: EPS misses analyst expectationsFull year 2024 results: EPS: CA$1.65 (down from CA$2.38 in FY 2023). Revenue: CA$1.17b (up 21% from FY 2023). Net income: CA$44.1m (down 30% from FY 2023). Profit margin: 3.8% (down from 6.5% in FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 28%. Revenue is forecast to grow 5.8% p.a. on average during the next 2 years, compared to a 4.1% growth forecast for the Energy Services industry in the US. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has increased by 3% per year.お知らせ • Mar 10North American Construction Group Ltd., Annual General Meeting, May 14, 2025North American Construction Group Ltd., Annual General Meeting, May 14, 2025.Declared Dividend • Feb 28Third quarter dividend of CA$0.12 announcedShareholders will receive a dividend of CA$0.12. Ex-date: 13th March 2025 Payment date: 9th April 2025 Dividend yield will be 2.0%, which is lower than the industry average of 2.3%. Sustainability & Growth Dividend is covered by earnings (19% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 20% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 47% over the next 2 years, which should provide support to the dividend and adequate earnings cover.お知らせ • Feb 26North American Construction Group Ltd. Announces Regular Quarterly Dividend, Payable on April 9, 2025On February 24, 2025, the North American Construction Group Ltd. Board of Directors declared a regular quarterly dividend of twelve Canadian cents ($0.12) per common share, payable to common shareholders of record at the close of business on March 13, 2025. The Dividend will be paid on April 9, 2025, and is an eligible dividend for Canadian income tax purposes.お知らせ • Feb 05North American Construction Group Ltd. to Report Q4, 2024 Results on Mar 05, 2025North American Construction Group Ltd. announced that they will report Q4, 2024 results After-Market on Mar 05, 2025Seeking Alpha • Jan 06North American Construction Will Start To Fire From All Cylinders (Upgrade)Summary North American Construction Group Ltd.'s diversified contracts in Australia and Canada, coupled with improved fleet utilization, are expected to drive significant revenue and EBITDA growth in 2025. Despite high debt, improved profit margins and cash flow recovery are anticipated, enabling NOA to reduce leverage and increase dividends. NOA stock is undervalued compared to peers, which supports a “Buy” rating, with expectations of higher returns in the medium term. Read the full article on Seeking AlphaNew Risk • Jan 05New minor risk - Insider sellingThere has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: US$424k This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Minor Risks High level of debt (173% net debt to equity). Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (4.8% net profit margin). Significant insider selling over the past 3 months (US$424k sold).お知らせ • Dec 05North American Construction Group Ltd. Provides Earnings Guidance of for the Fourth Quarter 2024 and Full Year 2025North American Construction Group Ltd. provided earnings guidance of for the fourth quarter 2024 and full year 2025, for the quarter the company expects combined revenue of $350 million to $375 million. for the year, the company expects combined revenue of $1.4 billion to $1.6 billion.Upcoming Dividend • Nov 20Upcoming dividend of CA$0.12 per shareEligible shareholders must have bought the stock before 27 November 2024. Payment date: 03 January 2025. Payout ratio is a comfortable 19% but the company is not cash flow positive. Trailing yield: 1.7%. Lower than top quartile of American dividend payers (4.3%). Lower than average of industry peers (2.3%).Recent Insider Transactions • Nov 14Chairman of the Board recently bought US$121k worth of stockOn the 12th of November, Martin Ferron bought around 6k shares on-market at roughly US$20.13 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Martin has been a buyer over the last 12 months, purchasing a net total of US$84k worth in shares.Valuation Update With 7 Day Price Move • Nov 06Investor sentiment improves as stock rises 24%After last week's 24% share price gain to US$20.86, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 11x in the Energy Services industry in the US. Total returns to shareholders of 34% over the past three years.Declared Dividend • Nov 03Third quarter dividend of CA$0.12 announcedShareholders will receive a dividend of CA$0.12. Ex-date: 27th November 2024 Payment date: 3rd January 2025 Dividend yield will be 1.7%, which is lower than the industry average of 2.3%. Sustainability & Growth Dividend is covered by earnings (5% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 17% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 75% over the next 2 years, which should provide support to the dividend and adequate earnings cover.Reported Earnings • Nov 01Third quarter 2024 earnings: EPS and revenues miss analyst expectationsThird quarter 2024 results: EPS: CA$0.52 (up from CA$0.43 in 3Q 2023). Revenue: CA$286.9m (up 47% from 3Q 2023). Net income: CA$13.9m (up 22% from 3Q 2023). Profit margin: 4.8% (down from 5.8% in 3Q 2023). Revenue missed analyst estimates by 2.5%. Earnings per share (EPS) also missed analyst estimates by 51%. Revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Energy Services industry in the US. Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 6% per year.お知らせ • Oct 31North American Construction Group Ltd. Declares Quarterly Dividend, Payable on January 3, 2025On October 29, 2024, North American Construction Group Ltd.'s Board of Directors declared a regular quarterly dividend of CAD 0.12 per common share, payable to common shareholders of record at the close of business on November 27, 2024. The Dividend will be paid on January 3, 2025, and is an eligible dividend for Canadian income tax purposes.お知らせ • Oct 22North American Construction Group Ltd. to Report Q3, 2024 Results on Oct 30, 2024North American Construction Group Ltd. announced that they will report Q3, 2024 results After-Market on Oct 30, 2024Recent Insider Transactions • Aug 15Chairman of the Board recently bought US$330k worth of stockOn the 9th of August, Martin Ferron bought around 19k shares on-market at roughly US$17.36 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Despite this recent buy, Martin has been a net seller over the last 12 months, reducing personal holdings by US$868k.Declared Dividend • Aug 04Second quarter dividend of CA$0.10 announcedShareholders will receive a dividend of CA$0.10. Ex-date: 30th August 2024 Payment date: 4th October 2024 Dividend yield will be 1.8%, which is lower than the industry average of 2.3%. Sustainability & Growth Dividend is covered by earnings (10% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 17% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 97% over the next 3 years, which should provide support to the dividend and adequate earnings cover.お知らせ • Aug 02+ 1 more updateNorth American Construction Group Ltd. Declares Quarterly Dividend, Payable on October 4, 2024On July 31, 2024, the North American Construction Group Ltd. Board of Directors declared a regular quarterly dividend of CAD 0.10 per common share, payable to common shareholders of record at the close of business on August 30, 2024. The Dividend will be paid on October 4, 2024, and is an eligible dividend for Canadian income tax purposes.New Risk • Aug 01New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 23% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.7x net interest cover). Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (5.0% net profit margin).Reported Earnings • Aug 01Second quarter 2024 earnings: EPS and revenues miss analyst expectationsSecond quarter 2024 results: EPS: CA$0.52 (up from CA$0.46 in 2Q 2023). Revenue: CA$276.3m (up 43% from 2Q 2023). Net income: CA$14.0m (up 14% from 2Q 2023). Profit margin: 5.1% (down from 6.3% in 2Q 2023). Revenue missed analyst estimates by 13%. Earnings per share (EPS) also missed analyst estimates by 47%. Revenue is forecast to grow 10.0% p.a. on average during the next 2 years, compared to a 7.4% growth forecast for the Energy Services industry in the US. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth.お知らせ • Jul 19North American Construction Group Ltd. to Report Q2, 2024 Results on Jul 31, 2024North American Construction Group Ltd. announced that they will report Q2, 2024 results After-Market on Jul 31, 2024Seeking Alpha • Jul 04North American Construction Group: Steady Project Flows Curtailed By Utilization ConcernsSummary NOA has opportunities in the Australian heavy equipment market and oil sands industry, with recent awards improving asset utilization. Despite undervaluation, NOA's balance sheet with high debt and deteriorated cash flows raises concerns for strong returns in the short term. Acquisition of MacKellar diversified NOA's portfolio, but challenges like adverse weather and asset mobilization affected recent performance. Read the full article on Seeking AlphaRecent Insider Transactions • Jun 25Chairman of the Board recently bought US$232k worth of stockOn the 24th of June, Martin Ferron bought around 12k shares on-market at roughly US$19.37 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Despite this recent buy, Martin has been a net seller over the last 12 months, reducing personal holdings by US$1.6m.Upcoming Dividend • May 24Upcoming dividend of CA$0.10 per shareEligible shareholders must have bought the stock before 31 May 2024. Payment date: 05 July 2024. Payout ratio is a comfortable 20% and this is well supported by cash flows. Trailing yield: 1.5%. Lower than top quartile of American dividend payers (4.7%). Lower than average of industry peers (2.3%).Recent Insider Transactions • May 17Chairman of the Board recently bought US$102k worth of stockOn the 16th of May, Martin Ferron bought around 5k shares on-market at roughly US$20.33 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Despite this recent buy, Martin has been a net seller over the last 12 months, reducing personal holdings by US$2.1m.New Risk • May 03New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 5.4% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.4x net interest cover). Minor Risks Profit margins are more than 30% lower than last year (5.2% net profit margin). Shareholders have been diluted in the past year (5.4% increase in shares outstanding). Significant insider selling over the past 3 months (US$551k sold).Reported Earnings • May 02First quarter 2024 earnings: EPS misses analyst expectationsFirst quarter 2024 results: EPS: CA$0.43 (down from CA$0.83 in 1Q 2023). Revenue: CA$297.0m (up 22% from 1Q 2023). Net income: CA$11.4m (down 48% from 1Q 2023). Profit margin: 3.8% (down from 9.0% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 46%. Revenue is forecast to grow 18% p.a. on average during the next 2 years, compared to a 7.7% growth forecast for the Energy Services industry in the US. Over the last 3 years on average, earnings per share has increased by 19% per year whereas the company’s share price has increased by 14% per year.お知らせ • May 02+ 1 more updateNorth American Construction Group Ltd. Declares Quarterly Dividend, Payable on July 5, 2024North American Construction Group Ltd. announced on April 30, 2024, the board of directors declared a regular quarterly dividend of CAD 0.10 per common share, payable to common shareholders of record at the close of business on May 31, 2024. The Dividend will be paid on July 5, 2024, and is an eligible dividend for Canadian income tax purposes.お知らせ • Apr 21North American Construction Group Ltd. to Report Q1, 2024 Results on May 01, 2024North American Construction Group Ltd. announced that they will report Q1, 2024 results After-Market on May 01, 2024Recent Insider Transactions • Apr 10Chairman of the Board recently sold US$457k worth of stockOn the 2nd of April, Martin Ferron sold around 20k shares on-market at roughly US$22.85 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Martin has been a net seller over the last 12 months, reducing personal holdings by US$2.6m.Recent Insider Transactions • Mar 27Chairman of the Board recently sold US$94k worth of stockOn the 19th of March, Martin Ferron sold around 4k shares on-market at roughly US$23.47 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Martin has been a net seller over the last 12 months, reducing personal holdings by US$2.2m.Reported Earnings • Mar 15Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2023 results: EPS: CA$2.38 (down from CA$2.46 in FY 2022). Revenue: CA$957.2m (up 24% from FY 2022). Net income: CA$63.1m (down 6.3% from FY 2022). Profit margin: 6.6% (down from 8.8% in FY 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.4%. Earnings per share (EPS) missed analyst estimates by 17%. Revenue is forecast to grow 18% p.a. on average during the next 2 years, compared to a 7.8% growth forecast for the Energy Services industry in the US. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has increased by 28% per year, which means it is tracking significantly ahead of earnings growth.お知らせ • Mar 14North American Construction Group Ltd. Provides Earnings Guidance for the Year 2024North American Construction Group Ltd. provided earnings guidance for the year 2024. For the period, the company expects combined revenue to be in the range of $1.5 billion - $1.7 billion.お知らせ • Mar 09North American Construction Group Ltd., Annual General Meeting, May 15, 2024North American Construction Group Ltd., Annual General Meeting, May 15, 2024.お知らせ • Mar 02North American Construction Group Ltd. Appoints Vanessa Guthrie AO to Its Board of DirectorsNorth American Construction Group Ltd. announced the appointment of Dr. Vanessa Guthrie AO to its Board of Directors, effective March 1, 2024. Dr. Guthrie has broad strategic experience in the natural resources sector in Australia, spanning more than 30 years. She hasheld a diverse array of senior leadership positions across operations, indigenous affairs, corporate development, andsustainability. These include being the Managing Director of Toro Energy Limited, an Australia Stock Exchange ("ASX") listedcompany involved in uranium mining, Vice President of Sustainable Development for Woodside Energy Group Ltd. and a minemanager for Alcoa Corporation. Dr. Guthrie also has extensive past and current experience serving on the boards of several prominent ASX-listed companies,including Santos Ltd, Orica Ltd. and Lynas Rare Earths Ltd. She is a former chair of Minerals Council of Australia and acurrent board member of Infrastructure Australia. Her contribution to the mining and resources industry was recognized in2017, via the award of an Honorary Doctor of Science degree from Curtin University, where she is now Chancellor Elect, for hercontribution to sustainability, innovation, and policy leadership in the resources industry. In 2021 she was also made an Officerof the Order of Australia for distinguished service to the minerals and resources sector, and as a role model for women inbusiness. Dr. Guthrie has a PhD in Geology, as well as qualifications in law, environment, and business management.Upcoming Dividend • Feb 29Upcoming dividend of CA$0.10 per shareEligible shareholders must have bought the stock before 07 March 2024. Payment date: 05 April 2024. Payout ratio is a comfortable 14% and this is well supported by cash flows. Trailing yield: 1.2%. Lower than top quartile of American dividend payers (4.8%). Lower than average of industry peers (2.3%).Declared Dividend • Feb 25Third quarter dividend of CA$0.10 announcedShareholders will receive a dividend of CA$0.10. Ex-date: 7th March 2024 Payment date: 5th April 2024 Dividend yield will be 1.3%, which is lower than the industry average of 2.3%. Sustainability & Growth Dividend is well covered by both earnings (14% earnings payout ratio) and cash flows (24% cash payout ratio). The dividend has increased by an average of 17% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 73% over the next 2 years, which should provide support to the dividend and adequate earnings cover.お知らせ • Feb 22North American Construction Group Ltd. Declares Regular Quarterly Dividend, Payable on April 5, 2024On February 20, 2024, the North American Construction Group Ltd. announced that the board of directors declared a regular quarterly dividend of CAD 0.10 per common share, payable to common shareholders of record at the close of business on March 8, 2024. The Dividend will be paid on April 5, 2024, and is an eligible dividend for Canadian income tax purposes.お知らせ • Feb 15North American Construction Group Ltd. to Report Q4, 2023 Results on Mar 13, 2024North American Construction Group Ltd. announced that they will report Q4, 2023 results After-Market on Mar 13, 2024Seeking Alpha • Jan 17North American Construction - MacKellar Acquisition Makes This Too Cheap To IgnoreSummary North American Construction Group is a global provider of earthmoving services to the mining and oil and gas sectors. The recent acquisition of the MacKellar Group in Australia diversifies NOA's commodity exposure and is expected to boost earnings by ~50% in 2024. NOA's shares are trading at a low valuation of 6.7x Fwd P/E, making them a compelling buy with significant upside potential. Read the full article on Seeking AlphaSeeking Alpha • Dec 29Bonhoeffer Capital - North American Construction Group: Awash With Competitive Advantages And Barriers To EntrySummary North American Construction Group is a construction services firm that provides heavy civil and bulk earthmoving services in supply-constrained markets. NAC has experienced significant growth in equipment utilization, return on invested capital (RoIC), and return on equity (RoE) over the past decade. The company has a strong competitive advantage in the industry, with a large equipment fleet, indigenous partnerships, and a contracted backlog of $3.0 billion. Read the full article on Seeking AlphaUpcoming Dividend • Nov 24Upcoming dividend of CA$0.10 per share at 1.5% yieldEligible shareholders must have bought the stock before 29 November 2023. Payment date: 05 January 2024. Payout ratio is a comfortable 14% and this is well supported by cash flows. Trailing yield: 1.5%. Lower than top quartile of American dividend payers (5.0%). Lower than average of industry peers (2.0%).Reported Earnings • Nov 02Third quarter 2023 earnings: EPS and revenues miss analyst expectationsThird quarter 2023 results: EPS: CA$0.43 (down from CA$0.75 in 3Q 2022). Revenue: CA$194.7m (up 1.8% from 3Q 2022). Net income: CA$11.4m (down 44% from 3Q 2022). Profit margin: 5.8% (down from 11% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 7.5%. Earnings per share (EPS) also missed analyst estimates by 26%. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has increased by 34% per year, which means it is tracking significantly ahead of earnings growth.お知らせ • Nov 02North American Construction Group Ltd. Declares Regular Quarterly Dividend, Payable on January 5, 2024On October 31, 2023, North American Construction Group Ltd. Board of Directors declared a regular quarterly dividend of CAD 0.10 per common share, payable to common shareholders of record at the close of business on November 30, 2023. The Dividend will be paid on January 5, 2024, and is an eligible dividend for Canadian income tax purposes.お知らせ • Oct 20North American Construction Group Ltd. to Report Q3, 2023 Results on Nov 01, 2023North American Construction Group Ltd. announced that they will report Q3, 2023 results After-Market on Nov 01, 2023Seeking Alpha • Sep 12North American Construction Group: Interesting Indirect Mining PlaySummary North American Construction Group Ltd. announced the acquisition of Australian Heavy Equipment Solution provider MacKellar Group. The acquisition brings diversification in terms of geographical region, activities, and end clients. The deal is seen as very accretive to earnings per share and improves pro forma EBITDA. Read the full article on Seeking AlphaRecent Insider Transactions • Sep 03Chairman of the Board recently sold US$367k worth of stockOn the 25th of August, Martin Ferron sold around 15k shares on-market at roughly US$24.44 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth US$501k. Martin has been a net seller over the last 12 months, reducing personal holdings by US$2.8m.Upcoming Dividend • Aug 24Upcoming dividend of CA$0.10 per share at 1.2% yieldEligible shareholders must have bought the stock before 30 August 2023. Payment date: 06 October 2023. Payout ratio is a comfortable 12% and this is well supported by cash flows. Trailing yield: 1.2%. Lower than top quartile of American dividend payers (4.9%). Lower than average of industry peers (1.9%).New Risk • Aug 17New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 9.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.9x net interest cover). Minor Risks Share price has been volatile over the past 3 months (9.7% average weekly change). Significant insider selling over the past 3 months (US$501k sold).Recent Insider Transactions • Aug 11Chairman of the Board recently sold US$501k worth of stockOn the 2nd of August, Martin Ferron sold around 20k shares on-market at roughly US$25.06 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Martin has been a net seller over the last 12 months, reducing personal holdings by US$2.5m.New Risk • Jul 29New major risk - Financial positionThe company's interest payments are not well covered by earnings. Net interest cover: 2.9x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.9x net interest cover). Minor Risk Significant insider selling over the past 3 months (US$879k sold).Reported Earnings • Jul 28Second quarter 2023 earnings: EPS and revenues exceed analyst expectationsSecond quarter 2023 results: EPS: CA$0.46 (up from CA$0.27 in 2Q 2022). Revenue: CA$193.6m (up 15% from 2Q 2022). Net income: CA$12.3m (up 63% from 2Q 2022). Profit margin: 6.3% (up from 4.5% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 6.1%. Earnings per share (EPS) also surpassed analyst estimates by 12%. Revenue is forecast to grow 25% p.a. on average during the next 2 years, compared to a 8.9% growth forecast for the Energy Services industry in the US. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has increased by 57% per year, which means it is tracking significantly ahead of earnings growth.お知らせ • Jul 28+ 1 more updateNorth American Construction Group Ltd. (TSX:NOA) entered into a definitive purchase and sale agreement to acquire Mackellar Mining Pty Ltd for CAD 395 million.North American Construction Group Ltd. (TSX:NOA) entered into a definitive purchase and sale agreement to acquire Mackellar Mining Pty Ltd for CAD 395 million on July 26, 2023. Under the terms of agreement, consideration consists of an upfront payment of CAD 67 million (AUD 75 million) which will be funded by the upsized revolving Credit Facility. In addition, liquidity from the Credit Facility and assumed equipment financing of MacKellar is estimated to provide CAD 200 million of the total consideration. The remaining amount will be paid as an earnout payment to be paid over 4 years. North American Construction Group currently has in place a CAD 300 million revolving credit facility with a syndicate of financial institutions. The transaction is subject to obtaining contractual consents and the satisfaction of other customary closing conditions. The transaction is expected to close in the fourth quarter of 2023. The transaction is represented less than 2.75x of expected EBITDA in 2024 and is expected to be over 50% accretive based on incremental earnings per share. National Bank Financial, Inc. acted as financial advisor to North American Construction Group. Fasken Martineau DuMoulin LLP and Corrs Chambers Westgarth acted as legal advisor to North American Construction Group.New Risk • Jul 14New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 0.6% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.6% per year for the foreseeable future. Minor Risks High level of debt (107% net debt to equity). Significant insider selling over the past 3 months (US$879k sold).配当金の支払いについて今日May 22 2026配当落ち日Jun 03 2026配当支払日Jul 03 202630 days 配当落ちから次の11 days 、次の配当を受け取るために購入する。決済の安定と成長配当データの取得安定した配当: NOAの1株当たり配当金は過去10年間安定しています。増加する配当: NOAの配当金は過去10年間にわたって増加しています。配当利回り対市場North American Construction Group 配当利回り対市場NOA 配当利回りは市場と比べてどうか？セグメント配当利回り会社 (NOA)2.4%市場下位25% (US)1.4%市場トップ25% (US)4.2%業界平均 (Energy Services)1.8%アナリスト予想 (NOA) (最長3年)2.4%注目すべき配当: NOAの配当金 ( 2.35% ) はUS市場の配当金支払者の下位 25% ( 1.41% ) よりも高くなっています。高配当: NOAの配当金 ( 2.35% ) はUS市場の配当金支払者の上位 25% ( 4.24% ) と比較すると低いです。株主への利益配当収益カバレッジ: NOAの 配当性向 ( 41.3% ) はかなり低いため、配当金の支払いは利益によって十分にカバーされます。株主配当金キャッシュフローカバレッジ: NOAは高い 現金配当性向 ( 799.2% ) のため、配当金の支払いはキャッシュフローで十分にカバーされていません。高配当企業の発掘7D1Y7D1Y7D1YUS 市場の強力な配当支払い企業。View Management企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2026/05/22 07:30終値2026/05/22 00:00収益2026/03/31年間収益2025/12/31データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレーク本レポートを生成するために使用した分析モデルの詳細は当社のGithubページでご覧いただけます。また、レポートの使用方法に関するガイドやYoutubeのチュートリアルも掲載しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋North American Construction Group Ltd. 5 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。12 アナリスト機関Tim MonachelloATB CormarkJohn GibsonBMO Capital Markets Equity ResearchYuri LynkCanaccord Genuity9 その他のアナリストを表示
Declared Dividend • May 17First quarter dividend of CA$0.12 announcedShareholders will receive a dividend of CA$0.12. Ex-date: 3rd June 2026 Payment date: 3rd July 2026 Dividend yield will be 2.5%, which is higher than the industry average of 2.3%. Sustainability & Growth Dividend is covered by earnings (41% earnings payout ratio) but not covered by cash flows (dividend approximately 7x free cash flows). The dividend has increased by an average of 20% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 130% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
Declared Dividend • Mar 15Fourth quarter dividend of CA$0.12 announcedShareholders will receive a dividend of CA$0.12. Ex-date: 26th March 2026 Payment date: 9th April 2026 Dividend yield will be 3.0%, which is higher than the industry average of 2.3%. Sustainability & Growth Dividend is covered by earnings (41% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 20% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 142% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
Declared Dividend • Nov 16Third quarter dividend of CA$0.12 announcedShareholders will receive a dividend of CA$0.12. Ex-date: 26th November 2025 Payment date: 9th January 2026 Dividend yield will be 2.7%, which is higher than the industry average of 2.3%. Sustainability & Growth Dividend is covered by earnings (9% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 20% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 74% over the next 2 years, which should provide support to the dividend and adequate earnings cover.
お知らせ • Nov 13+ 1 more updateNorth American Construction Group Ltd. Declares Regular Quarterly Dividend, Payable on January 9, 2026On November 10, 2025, the North American Construction Group Ltd. Board of Directors declared a regular quarterly dividend (the “Dividend”) of twelve Canadian cents (CAD 0.12) per common share, payable to common shareholders of record at the close of business on November 26, 2025. The Dividend will be paid on January 9, 2026, and is an eligible dividend for Canadian income tax purposes.
Declared Dividend • Aug 17Second quarter dividend of CA$0.12 announcedShareholders will receive a dividend of CA$0.12. Ex-date: 29th August 2025 Payment date: 3rd October 2025 Dividend yield will be 3.1%, which is higher than the industry average of 2.3%. Sustainability & Growth Dividend is covered by earnings (37% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 20% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 126% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
お知らせ • Aug 14+ 1 more updateNorth American Construction Group Ltd. Declares Quarterly Dividend, Payable on October 3, 2025On August 12th, 2025, North American Construction Group Ltd. Board of Directors declared a regular quarterly dividend (the “Dividend”) of twelve Canadian cents ($0.12) per common share, payable to common shareholders of record at the close of business on August 29, 2025. The Dividend will be paid on October 3, 2025, and is an eligible dividend for Canadian income tax purposes.
Recent Insider Transactions • May 20Independent Chairman of the Board recently bought US$149k worth of stockOn the 19th of May, Martin Ferron bought around 10k shares on-market at roughly US$14.86 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Martin has been a buyer over the last 12 months, purchasing a net total of US$298k worth in shares.
Declared Dividend • May 17First quarter dividend of CA$0.12 announcedShareholders will receive a dividend of CA$0.12. Ex-date: 3rd June 2026 Payment date: 3rd July 2026 Dividend yield will be 2.5%, which is higher than the industry average of 2.3%. Sustainability & Growth Dividend is covered by earnings (41% earnings payout ratio) but not covered by cash flows (dividend approximately 7x free cash flows). The dividend has increased by an average of 20% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 130% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
お知らせ • May 15+ 1 more updateNorth American Construction Group Ltd. Maintains Earnings Guidance for the Year 2026North American Construction Group Ltd. maintained earnings guidance for the year 2026. For the year, the company maintained combined revenue of $1.5 billion to $1.7 billion.
Reported Earnings • May 14First quarter 2026 earnings: EPS misses analyst expectationsFirst quarter 2026 results: EPS: CA$0.20 (down from CA$0.22 in 1Q 2025). Revenue: CA$319.2m (down 6.3% from 1Q 2025). Net income: CA$5.55m (down 9.9% from 1Q 2025). Profit margin: 1.7% (in line with 1Q 2025). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 46%. Revenue is forecast to grow 8.5% p.a. on average during the next 2 years, compared to a 5.8% growth forecast for the Energy Services industry in the US. Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings.
お知らせ • Apr 28North American Construction Group Ltd. to Report Q1, 2026 Results on May 13, 2026North American Construction Group Ltd. announced that they will report Q1, 2026 results After-Market on May 13, 2026
お知らせ • Apr 08North American Construction Group Ltd. (TSX:NOA) completed the acquisition of Iron Mine Contracting Pty Ltd for approximately CAD 120 million.North American Construction Group Ltd. (TSX:NOA) entered into a definitive share purchase agreement to acquire Iron Mine Contracting Pty Ltd for approximately CAD 120 million on December 18, 2025. The acquisition is expected to be significantly accretive, increasing NACG’s incremental earnings per share by approximately 20% in 2026. The Transaction will be fully funded by senior-secured bank financing (65% of the purchase price) and vendor-provided debt financing (35% of the purchase price). The estimated upfront payment of approximately CAD 40 million will be funded by North American Construction Group Ltd’s existing revolving credit facility. In addition, NACG plans to assume secured equipment financing of CAD 35 million. The remaining CAD 40 million of the consideration will be addressed through structured earn-out and deferred payment mechanisms payable to the vendors over the next four years. The Transaction is subject to satisfaction of certain regulatory and other customary closing conditions and is expected to close in the first quarter of 2026. National Bank of Canada Financial Markets acted as financial advisor for North American Construction Group Ltd. Fasken Martineau DuMoulin LLP acted as legal advisor for North American Construction Group Ltd. MinterEllison acted as legal advisor for North American Construction Group Ltd. North American Construction Group Ltd. (TSX:NOA) completed the acquisition of Iron Mine Contracting Pty Ltd for on April 7, 2026.
Recent Insider Transactions • Mar 19Independent Lead Director recently bought US$52k worth of stockOn the 16th of March, Bryan Pinney bought around 4k shares on-market at roughly US$13.07 per share. This transaction amounted to 20% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought US$1.2m more in shares than they have sold in the last 12 months.
Valuation Update With 7 Day Price Move • Mar 18Investor sentiment deteriorates as stock falls 19%After last week's 19% share price decline to US$13.51, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 19x in the Energy Services industry in the US. Total loss to shareholders of 11% over the past three years.
Seeking Alpha • Mar 17Stronger Backlog, Higher Leverage: North American Construction's Strategy TestedSummary North American Construction (NOA) is expanding aggressively in Australia, leveraging the IMC acquisition to boost its mining contractor platform and backlog by ~30%. NOA’s backlog reached $3.9 billion, with management projecting 7% revenue and 12% adjusted EBITDA growth for FY2026, driven by IMC synergies. Following a 20% stock price drop and underpriced valuation multiples, I upgrade my rating to 'Hold' on improved backlog momentum but elevated financial risk. Read the full article on Seeking Alpha
Declared Dividend • Mar 15Fourth quarter dividend of CA$0.12 announcedShareholders will receive a dividend of CA$0.12. Ex-date: 26th March 2026 Payment date: 9th April 2026 Dividend yield will be 3.0%, which is higher than the industry average of 2.3%. Sustainability & Growth Dividend is covered by earnings (41% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 20% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 142% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
New Risk • Mar 12New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 86% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.9x net interest cover). Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.6% net profit margin).
Reported Earnings • Mar 12Full year 2025 earnings: EPS misses analyst expectationsFull year 2025 results: EPS: CA$1.18 (down from CA$1.65 in FY 2024). Revenue: CA$1.28b (up 10% from FY 2024). Net income: CA$33.8m (down 23% from FY 2024). Profit margin: 2.6% (down from 3.8% in FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 32%. Revenue is forecast to grow 4.7% p.a. on average during the next 2 years, compared to a 4.0% growth forecast for the Energy Services industry in the US. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings.
お知らせ • Mar 12+ 1 more updateNorth American Construction Group Ltd. Provides Earnings Guidance for the outlook the year 2026North American Construction Group Ltd. provided earnings guidance for the outlook the year 2026. For the period, the company expects Combined revenue to be in the range of $1.5 Billion to $1.7 Billion.
お知らせ • Feb 19North American Construction Group Ltd. to Report Q4, 2025 Results on Mar 11, 2026North American Construction Group Ltd. announced that they will report Q4, 2025 results at 4:00 PM, US Eastern Standard Time on Mar 11, 2026
お知らせ • Feb 17North American Construction Group Ltd., Annual General Meeting, May 20, 2026North American Construction Group Ltd., Annual General Meeting, May 20, 2026.
お知らせ • Jan 22+ 1 more updateNorth American Construction Group Ltd. Announces CEO ChangesNorth American Construction Group Ltd. announced that Joe Lambert has resigned from his position as Chief Executive Officer of the Company to pursue other opportunities. Effective immediately, the Company's Chief Operating Officer, Barry Palmer, has assumed the role of Chief Executive Officer. The Company has begun the process of assessing both internal and external candidates to assume the role on a permanent basis.
お知らせ • Dec 20North American Construction Group Ltd. (TSX:NOA) entered into a definitive share purchase agreement to acquire Iron Mine Contracting Pty Ltd for approximately CAD 120 million.North American Construction Group Ltd. (TSX:NOA) entered into a definitive share purchase agreement to acquire Iron Mine Contracting Pty Ltd for approximately CAD 120 million on December 18, 2025. The acquisition is expected to be significantly accretive, increasing NACG’s incremental earnings per share by approximately 20% in 2026. The Transaction will be fully funded by senior-secured bank financing (65% of the purchase price) and vendor-provided debt financing (35% of the purchase price). The estimated upfront payment of approximately CAD 40 million will be funded by North American Construction Group Ltd’s existing revolving credit facility. In addition, NACG plans to assume secured equipment financing of CAD 35 million. The remaining CAD 40 million of the consideration will be addressed through structured earn-out and deferred payment mechanisms payable to the vendors over the next four years. The Transaction is subject to satisfaction of certain regulatory and other customary closing conditions and is expected to close in the first quarter of 2026. National Bank of Canada Financial Markets acted as financial advisor for North American Construction Group Ltd. Fasken Martineau DuMoulin LLP acted as legal advisor for North American Construction Group Ltd. MinterEllison acted as legal advisor for North American Construction Group Ltd.
Declared Dividend • Nov 16Third quarter dividend of CA$0.12 announcedShareholders will receive a dividend of CA$0.12. Ex-date: 26th November 2025 Payment date: 9th January 2026 Dividend yield will be 2.7%, which is higher than the industry average of 2.3%. Sustainability & Growth Dividend is covered by earnings (9% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 20% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 74% over the next 2 years, which should provide support to the dividend and adequate earnings cover.
Reported Earnings • Nov 14Third quarter 2025 earnings: EPS and revenues miss analyst expectationsThird quarter 2025 results: EPS: CA$0.59 (up from CA$0.52 in 3Q 2024). Revenue: CA$317.2m (up 11% from 3Q 2024). Net income: CA$17.3m (up 24% from 3Q 2024). Profit margin: 5.5% (up from 4.8% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 2.4%. Earnings per share (EPS) also missed analyst estimates by 10%. Revenue is forecast to grow 6.0% p.a. on average during the next 3 years, compared to a 3.6% growth forecast for the Energy Services industry in the US. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings.
お知らせ • Nov 13+ 1 more updateNorth American Construction Group Ltd. Declares Regular Quarterly Dividend, Payable on January 9, 2026On November 10, 2025, the North American Construction Group Ltd. Board of Directors declared a regular quarterly dividend (the “Dividend”) of twelve Canadian cents (CAD 0.12) per common share, payable to common shareholders of record at the close of business on November 26, 2025. The Dividend will be paid on January 9, 2026, and is an eligible dividend for Canadian income tax purposes.
お知らせ • Oct 17North American Construction Group Ltd. to Report Q3, 2025 Results on Nov 12, 2025North American Construction Group Ltd. announced that they will report Q3, 2025 results After-Market on Nov 12, 2025
Recent Insider Transactions • Aug 22Independent Chairman of the Board recently bought US$264k worth of stockOn the 20th of August, Martin Ferron bought around 21k shares on-market at roughly US$12.40 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Martin has been a buyer over the last 12 months, purchasing a net total of US$658k worth in shares.
Valuation Update With 7 Day Price Move • Aug 20Investor sentiment deteriorates as stock falls 23%After last week's 23% share price decline to US$12.98, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 13x in the Energy Services industry in the US. Total returns to shareholders of 14% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$5.36 per share.
Declared Dividend • Aug 17Second quarter dividend of CA$0.12 announcedShareholders will receive a dividend of CA$0.12. Ex-date: 29th August 2025 Payment date: 3rd October 2025 Dividend yield will be 3.1%, which is higher than the industry average of 2.3%. Sustainability & Growth Dividend is covered by earnings (37% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 20% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 126% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
Reported Earnings • Aug 14Second quarter 2025 earnings: EPS and revenues miss analyst expectationsSecond quarter 2025 results: EPS: CA$0.35 (down from CA$0.52 in 2Q 2024). Revenue: CA$320.6m (up 16% from 2Q 2024). Net income: CA$10.3m (down 27% from 2Q 2024). Profit margin: 3.2% (down from 5.1% in 2Q 2024). Revenue missed analyst estimates by 3.1%. Earnings per share (EPS) also missed analyst estimates by 52%. Revenue is forecast to grow 4.9% p.a. on average during the next 2 years, compared to a 3.2% growth forecast for the Energy Services industry in the US. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings.
お知らせ • Aug 14+ 1 more updateNorth American Construction Group Ltd. Declares Quarterly Dividend, Payable on October 3, 2025On August 12th, 2025, North American Construction Group Ltd. Board of Directors declared a regular quarterly dividend (the “Dividend”) of twelve Canadian cents ($0.12) per common share, payable to common shareholders of record at the close of business on August 29, 2025. The Dividend will be paid on October 3, 2025, and is an eligible dividend for Canadian income tax purposes.
お知らせ • Jul 18North American Construction Group Ltd. to Report Q2, 2025 Results on Aug 13, 2025North American Construction Group Ltd. announced that they will report Q2, 2025 results After-Market on Aug 13, 2025
New Risk • Jul 05New minor risk - Insider sellingThere has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: US$181k This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.5x net interest cover). Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (3.2% net profit margin). Significant insider selling over the past 3 months (US$181k sold).
Recent Insider Transactions • Jun 18Independent Chairman of the Board recently sold US$181k worth of stockOn the 10th of June, Martin Ferron sold around 10k shares on-market at roughly US$18.09 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Despite the recent sale, Martin has been a net buyer over the last 12 months, purchasing a net total of US$957k worth of shares.
Declared Dividend • May 18First quarter dividend of CA$0.12 announcedShareholders will receive a dividend of CA$0.12. Ex-date: 4th June 2025 Payment date: 11th July 2025 Dividend yield will be 2.1%, which is lower than the industry average of 2.3%. Sustainability & Growth Dividend is covered by earnings (29% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 20% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 128% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
Reported Earnings • May 16First quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behindFirst quarter 2025 results: EPS: CA$0.22 (down from CA$0.42 in 1Q 2024). Revenue: CA$340.8m (up 15% from 1Q 2024). Net income: CA$6.16m (down 46% from 1Q 2024). Profit margin: 1.8% (down from 3.8% in 1Q 2024). Revenue exceeded analyst estimates by 15%. Earnings per share (EPS) missed analyst estimates by 71%. Revenue is forecast to grow 5.8% p.a. on average during the next 2 years, compared to a 2.9% growth forecast for the Energy Services industry in the US. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings.
お知らせ • May 15+ 1 more updateNorth American Construction Group Ltd. Declares Regular Quarterly Dividend, Payable on July 11, 2025North American Construction Group Ltd. board declared a regular quarterly dividend of CAD 0.12 per common share, payable to common shareholders of record at the close of business on June 4, 2025. The Dividend will be paid on July 11, 2025.
お知らせ • Apr 21North American Construction Group Ltd. to Report Q1, 2025 Results on May 14, 2025North American Construction Group Ltd. announced that they will report Q1, 2025 results at 4:00 PM, US Eastern Standard Time on May 14, 2025
Valuation Update With 7 Day Price Move • Apr 08Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to US$13.44, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 11x in the Energy Services industry in the US. Total loss to shareholders of 2.5% over the past three years.
Recent Insider Transactions • Mar 28Chairman of the Board recently bought US$65k worth of stockOn the 24th of March, Martin Ferron bought around 4k shares on-market at roughly US$16.30 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Martin has been a buyer over the last 12 months, purchasing a net total of US$192k worth in shares.
New Risk • Mar 20New major risk - Financial positionThe company's interest payments are not well covered by earnings. Net interest cover: 2.6x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.6x net interest cover). Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (3.8% net profit margin). Significant insider selling over the past 3 months (US$668k sold).
Reported Earnings • Mar 20Full year 2024 earnings: EPS misses analyst expectationsFull year 2024 results: EPS: CA$1.65 (down from CA$2.38 in FY 2023). Revenue: CA$1.17b (up 21% from FY 2023). Net income: CA$44.1m (down 30% from FY 2023). Profit margin: 3.8% (down from 6.5% in FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 28%. Revenue is forecast to grow 5.8% p.a. on average during the next 2 years, compared to a 4.1% growth forecast for the Energy Services industry in the US. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has increased by 3% per year.
お知らせ • Mar 10North American Construction Group Ltd., Annual General Meeting, May 14, 2025North American Construction Group Ltd., Annual General Meeting, May 14, 2025.
Declared Dividend • Feb 28Third quarter dividend of CA$0.12 announcedShareholders will receive a dividend of CA$0.12. Ex-date: 13th March 2025 Payment date: 9th April 2025 Dividend yield will be 2.0%, which is lower than the industry average of 2.3%. Sustainability & Growth Dividend is covered by earnings (19% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 20% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 47% over the next 2 years, which should provide support to the dividend and adequate earnings cover.
お知らせ • Feb 26North American Construction Group Ltd. Announces Regular Quarterly Dividend, Payable on April 9, 2025On February 24, 2025, the North American Construction Group Ltd. Board of Directors declared a regular quarterly dividend of twelve Canadian cents ($0.12) per common share, payable to common shareholders of record at the close of business on March 13, 2025. The Dividend will be paid on April 9, 2025, and is an eligible dividend for Canadian income tax purposes.
お知らせ • Feb 05North American Construction Group Ltd. to Report Q4, 2024 Results on Mar 05, 2025North American Construction Group Ltd. announced that they will report Q4, 2024 results After-Market on Mar 05, 2025
Seeking Alpha • Jan 06North American Construction Will Start To Fire From All Cylinders (Upgrade)Summary North American Construction Group Ltd.'s diversified contracts in Australia and Canada, coupled with improved fleet utilization, are expected to drive significant revenue and EBITDA growth in 2025. Despite high debt, improved profit margins and cash flow recovery are anticipated, enabling NOA to reduce leverage and increase dividends. NOA stock is undervalued compared to peers, which supports a “Buy” rating, with expectations of higher returns in the medium term. Read the full article on Seeking Alpha
New Risk • Jan 05New minor risk - Insider sellingThere has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: US$424k This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Minor Risks High level of debt (173% net debt to equity). Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (4.8% net profit margin). Significant insider selling over the past 3 months (US$424k sold).
お知らせ • Dec 05North American Construction Group Ltd. Provides Earnings Guidance of for the Fourth Quarter 2024 and Full Year 2025North American Construction Group Ltd. provided earnings guidance of for the fourth quarter 2024 and full year 2025, for the quarter the company expects combined revenue of $350 million to $375 million. for the year, the company expects combined revenue of $1.4 billion to $1.6 billion.
Upcoming Dividend • Nov 20Upcoming dividend of CA$0.12 per shareEligible shareholders must have bought the stock before 27 November 2024. Payment date: 03 January 2025. Payout ratio is a comfortable 19% but the company is not cash flow positive. Trailing yield: 1.7%. Lower than top quartile of American dividend payers (4.3%). Lower than average of industry peers (2.3%).
Recent Insider Transactions • Nov 14Chairman of the Board recently bought US$121k worth of stockOn the 12th of November, Martin Ferron bought around 6k shares on-market at roughly US$20.13 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Martin has been a buyer over the last 12 months, purchasing a net total of US$84k worth in shares.
Valuation Update With 7 Day Price Move • Nov 06Investor sentiment improves as stock rises 24%After last week's 24% share price gain to US$20.86, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 11x in the Energy Services industry in the US. Total returns to shareholders of 34% over the past three years.
Declared Dividend • Nov 03Third quarter dividend of CA$0.12 announcedShareholders will receive a dividend of CA$0.12. Ex-date: 27th November 2024 Payment date: 3rd January 2025 Dividend yield will be 1.7%, which is lower than the industry average of 2.3%. Sustainability & Growth Dividend is covered by earnings (5% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 17% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 75% over the next 2 years, which should provide support to the dividend and adequate earnings cover.
Reported Earnings • Nov 01Third quarter 2024 earnings: EPS and revenues miss analyst expectationsThird quarter 2024 results: EPS: CA$0.52 (up from CA$0.43 in 3Q 2023). Revenue: CA$286.9m (up 47% from 3Q 2023). Net income: CA$13.9m (up 22% from 3Q 2023). Profit margin: 4.8% (down from 5.8% in 3Q 2023). Revenue missed analyst estimates by 2.5%. Earnings per share (EPS) also missed analyst estimates by 51%. Revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Energy Services industry in the US. Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 6% per year.
お知らせ • Oct 31North American Construction Group Ltd. Declares Quarterly Dividend, Payable on January 3, 2025On October 29, 2024, North American Construction Group Ltd.'s Board of Directors declared a regular quarterly dividend of CAD 0.12 per common share, payable to common shareholders of record at the close of business on November 27, 2024. The Dividend will be paid on January 3, 2025, and is an eligible dividend for Canadian income tax purposes.
お知らせ • Oct 22North American Construction Group Ltd. to Report Q3, 2024 Results on Oct 30, 2024North American Construction Group Ltd. announced that they will report Q3, 2024 results After-Market on Oct 30, 2024
Recent Insider Transactions • Aug 15Chairman of the Board recently bought US$330k worth of stockOn the 9th of August, Martin Ferron bought around 19k shares on-market at roughly US$17.36 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Despite this recent buy, Martin has been a net seller over the last 12 months, reducing personal holdings by US$868k.
Declared Dividend • Aug 04Second quarter dividend of CA$0.10 announcedShareholders will receive a dividend of CA$0.10. Ex-date: 30th August 2024 Payment date: 4th October 2024 Dividend yield will be 1.8%, which is lower than the industry average of 2.3%. Sustainability & Growth Dividend is covered by earnings (10% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 17% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 97% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
お知らせ • Aug 02+ 1 more updateNorth American Construction Group Ltd. Declares Quarterly Dividend, Payable on October 4, 2024On July 31, 2024, the North American Construction Group Ltd. Board of Directors declared a regular quarterly dividend of CAD 0.10 per common share, payable to common shareholders of record at the close of business on August 30, 2024. The Dividend will be paid on October 4, 2024, and is an eligible dividend for Canadian income tax purposes.
New Risk • Aug 01New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 23% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.7x net interest cover). Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (5.0% net profit margin).
Reported Earnings • Aug 01Second quarter 2024 earnings: EPS and revenues miss analyst expectationsSecond quarter 2024 results: EPS: CA$0.52 (up from CA$0.46 in 2Q 2023). Revenue: CA$276.3m (up 43% from 2Q 2023). Net income: CA$14.0m (up 14% from 2Q 2023). Profit margin: 5.1% (down from 6.3% in 2Q 2023). Revenue missed analyst estimates by 13%. Earnings per share (EPS) also missed analyst estimates by 47%. Revenue is forecast to grow 10.0% p.a. on average during the next 2 years, compared to a 7.4% growth forecast for the Energy Services industry in the US. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth.
お知らせ • Jul 19North American Construction Group Ltd. to Report Q2, 2024 Results on Jul 31, 2024North American Construction Group Ltd. announced that they will report Q2, 2024 results After-Market on Jul 31, 2024
Seeking Alpha • Jul 04North American Construction Group: Steady Project Flows Curtailed By Utilization ConcernsSummary NOA has opportunities in the Australian heavy equipment market and oil sands industry, with recent awards improving asset utilization. Despite undervaluation, NOA's balance sheet with high debt and deteriorated cash flows raises concerns for strong returns in the short term. Acquisition of MacKellar diversified NOA's portfolio, but challenges like adverse weather and asset mobilization affected recent performance. Read the full article on Seeking Alpha
Recent Insider Transactions • Jun 25Chairman of the Board recently bought US$232k worth of stockOn the 24th of June, Martin Ferron bought around 12k shares on-market at roughly US$19.37 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Despite this recent buy, Martin has been a net seller over the last 12 months, reducing personal holdings by US$1.6m.
Upcoming Dividend • May 24Upcoming dividend of CA$0.10 per shareEligible shareholders must have bought the stock before 31 May 2024. Payment date: 05 July 2024. Payout ratio is a comfortable 20% and this is well supported by cash flows. Trailing yield: 1.5%. Lower than top quartile of American dividend payers (4.7%). Lower than average of industry peers (2.3%).
Recent Insider Transactions • May 17Chairman of the Board recently bought US$102k worth of stockOn the 16th of May, Martin Ferron bought around 5k shares on-market at roughly US$20.33 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Despite this recent buy, Martin has been a net seller over the last 12 months, reducing personal holdings by US$2.1m.
New Risk • May 03New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 5.4% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.4x net interest cover). Minor Risks Profit margins are more than 30% lower than last year (5.2% net profit margin). Shareholders have been diluted in the past year (5.4% increase in shares outstanding). Significant insider selling over the past 3 months (US$551k sold).
Reported Earnings • May 02First quarter 2024 earnings: EPS misses analyst expectationsFirst quarter 2024 results: EPS: CA$0.43 (down from CA$0.83 in 1Q 2023). Revenue: CA$297.0m (up 22% from 1Q 2023). Net income: CA$11.4m (down 48% from 1Q 2023). Profit margin: 3.8% (down from 9.0% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 46%. Revenue is forecast to grow 18% p.a. on average during the next 2 years, compared to a 7.7% growth forecast for the Energy Services industry in the US. Over the last 3 years on average, earnings per share has increased by 19% per year whereas the company’s share price has increased by 14% per year.
お知らせ • May 02+ 1 more updateNorth American Construction Group Ltd. Declares Quarterly Dividend, Payable on July 5, 2024North American Construction Group Ltd. announced on April 30, 2024, the board of directors declared a regular quarterly dividend of CAD 0.10 per common share, payable to common shareholders of record at the close of business on May 31, 2024. The Dividend will be paid on July 5, 2024, and is an eligible dividend for Canadian income tax purposes.
お知らせ • Apr 21North American Construction Group Ltd. to Report Q1, 2024 Results on May 01, 2024North American Construction Group Ltd. announced that they will report Q1, 2024 results After-Market on May 01, 2024
Recent Insider Transactions • Apr 10Chairman of the Board recently sold US$457k worth of stockOn the 2nd of April, Martin Ferron sold around 20k shares on-market at roughly US$22.85 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Martin has been a net seller over the last 12 months, reducing personal holdings by US$2.6m.
Recent Insider Transactions • Mar 27Chairman of the Board recently sold US$94k worth of stockOn the 19th of March, Martin Ferron sold around 4k shares on-market at roughly US$23.47 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Martin has been a net seller over the last 12 months, reducing personal holdings by US$2.2m.
Reported Earnings • Mar 15Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2023 results: EPS: CA$2.38 (down from CA$2.46 in FY 2022). Revenue: CA$957.2m (up 24% from FY 2022). Net income: CA$63.1m (down 6.3% from FY 2022). Profit margin: 6.6% (down from 8.8% in FY 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.4%. Earnings per share (EPS) missed analyst estimates by 17%. Revenue is forecast to grow 18% p.a. on average during the next 2 years, compared to a 7.8% growth forecast for the Energy Services industry in the US. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has increased by 28% per year, which means it is tracking significantly ahead of earnings growth.
お知らせ • Mar 14North American Construction Group Ltd. Provides Earnings Guidance for the Year 2024North American Construction Group Ltd. provided earnings guidance for the year 2024. For the period, the company expects combined revenue to be in the range of $1.5 billion - $1.7 billion.
お知らせ • Mar 09North American Construction Group Ltd., Annual General Meeting, May 15, 2024North American Construction Group Ltd., Annual General Meeting, May 15, 2024.
お知らせ • Mar 02North American Construction Group Ltd. Appoints Vanessa Guthrie AO to Its Board of DirectorsNorth American Construction Group Ltd. announced the appointment of Dr. Vanessa Guthrie AO to its Board of Directors, effective March 1, 2024. Dr. Guthrie has broad strategic experience in the natural resources sector in Australia, spanning more than 30 years. She hasheld a diverse array of senior leadership positions across operations, indigenous affairs, corporate development, andsustainability. These include being the Managing Director of Toro Energy Limited, an Australia Stock Exchange ("ASX") listedcompany involved in uranium mining, Vice President of Sustainable Development for Woodside Energy Group Ltd. and a minemanager for Alcoa Corporation. Dr. Guthrie also has extensive past and current experience serving on the boards of several prominent ASX-listed companies,including Santos Ltd, Orica Ltd. and Lynas Rare Earths Ltd. She is a former chair of Minerals Council of Australia and acurrent board member of Infrastructure Australia. Her contribution to the mining and resources industry was recognized in2017, via the award of an Honorary Doctor of Science degree from Curtin University, where she is now Chancellor Elect, for hercontribution to sustainability, innovation, and policy leadership in the resources industry. In 2021 she was also made an Officerof the Order of Australia for distinguished service to the minerals and resources sector, and as a role model for women inbusiness. Dr. Guthrie has a PhD in Geology, as well as qualifications in law, environment, and business management.
Upcoming Dividend • Feb 29Upcoming dividend of CA$0.10 per shareEligible shareholders must have bought the stock before 07 March 2024. Payment date: 05 April 2024. Payout ratio is a comfortable 14% and this is well supported by cash flows. Trailing yield: 1.2%. Lower than top quartile of American dividend payers (4.8%). Lower than average of industry peers (2.3%).
Declared Dividend • Feb 25Third quarter dividend of CA$0.10 announcedShareholders will receive a dividend of CA$0.10. Ex-date: 7th March 2024 Payment date: 5th April 2024 Dividend yield will be 1.3%, which is lower than the industry average of 2.3%. Sustainability & Growth Dividend is well covered by both earnings (14% earnings payout ratio) and cash flows (24% cash payout ratio). The dividend has increased by an average of 17% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 73% over the next 2 years, which should provide support to the dividend and adequate earnings cover.
お知らせ • Feb 22North American Construction Group Ltd. Declares Regular Quarterly Dividend, Payable on April 5, 2024On February 20, 2024, the North American Construction Group Ltd. announced that the board of directors declared a regular quarterly dividend of CAD 0.10 per common share, payable to common shareholders of record at the close of business on March 8, 2024. The Dividend will be paid on April 5, 2024, and is an eligible dividend for Canadian income tax purposes.
お知らせ • Feb 15North American Construction Group Ltd. to Report Q4, 2023 Results on Mar 13, 2024North American Construction Group Ltd. announced that they will report Q4, 2023 results After-Market on Mar 13, 2024
Seeking Alpha • Jan 17North American Construction - MacKellar Acquisition Makes This Too Cheap To IgnoreSummary North American Construction Group is a global provider of earthmoving services to the mining and oil and gas sectors. The recent acquisition of the MacKellar Group in Australia diversifies NOA's commodity exposure and is expected to boost earnings by ~50% in 2024. NOA's shares are trading at a low valuation of 6.7x Fwd P/E, making them a compelling buy with significant upside potential. Read the full article on Seeking Alpha
Seeking Alpha • Dec 29Bonhoeffer Capital - North American Construction Group: Awash With Competitive Advantages And Barriers To EntrySummary North American Construction Group is a construction services firm that provides heavy civil and bulk earthmoving services in supply-constrained markets. NAC has experienced significant growth in equipment utilization, return on invested capital (RoIC), and return on equity (RoE) over the past decade. The company has a strong competitive advantage in the industry, with a large equipment fleet, indigenous partnerships, and a contracted backlog of $3.0 billion. Read the full article on Seeking Alpha
Upcoming Dividend • Nov 24Upcoming dividend of CA$0.10 per share at 1.5% yieldEligible shareholders must have bought the stock before 29 November 2023. Payment date: 05 January 2024. Payout ratio is a comfortable 14% and this is well supported by cash flows. Trailing yield: 1.5%. Lower than top quartile of American dividend payers (5.0%). Lower than average of industry peers (2.0%).
Reported Earnings • Nov 02Third quarter 2023 earnings: EPS and revenues miss analyst expectationsThird quarter 2023 results: EPS: CA$0.43 (down from CA$0.75 in 3Q 2022). Revenue: CA$194.7m (up 1.8% from 3Q 2022). Net income: CA$11.4m (down 44% from 3Q 2022). Profit margin: 5.8% (down from 11% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 7.5%. Earnings per share (EPS) also missed analyst estimates by 26%. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has increased by 34% per year, which means it is tracking significantly ahead of earnings growth.
お知らせ • Nov 02North American Construction Group Ltd. Declares Regular Quarterly Dividend, Payable on January 5, 2024On October 31, 2023, North American Construction Group Ltd. Board of Directors declared a regular quarterly dividend of CAD 0.10 per common share, payable to common shareholders of record at the close of business on November 30, 2023. The Dividend will be paid on January 5, 2024, and is an eligible dividend for Canadian income tax purposes.
お知らせ • Oct 20North American Construction Group Ltd. to Report Q3, 2023 Results on Nov 01, 2023North American Construction Group Ltd. announced that they will report Q3, 2023 results After-Market on Nov 01, 2023
Seeking Alpha • Sep 12North American Construction Group: Interesting Indirect Mining PlaySummary North American Construction Group Ltd. announced the acquisition of Australian Heavy Equipment Solution provider MacKellar Group. The acquisition brings diversification in terms of geographical region, activities, and end clients. The deal is seen as very accretive to earnings per share and improves pro forma EBITDA. Read the full article on Seeking Alpha
Recent Insider Transactions • Sep 03Chairman of the Board recently sold US$367k worth of stockOn the 25th of August, Martin Ferron sold around 15k shares on-market at roughly US$24.44 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth US$501k. Martin has been a net seller over the last 12 months, reducing personal holdings by US$2.8m.
Upcoming Dividend • Aug 24Upcoming dividend of CA$0.10 per share at 1.2% yieldEligible shareholders must have bought the stock before 30 August 2023. Payment date: 06 October 2023. Payout ratio is a comfortable 12% and this is well supported by cash flows. Trailing yield: 1.2%. Lower than top quartile of American dividend payers (4.9%). Lower than average of industry peers (1.9%).
New Risk • Aug 17New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 9.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.9x net interest cover). Minor Risks Share price has been volatile over the past 3 months (9.7% average weekly change). Significant insider selling over the past 3 months (US$501k sold).
Recent Insider Transactions • Aug 11Chairman of the Board recently sold US$501k worth of stockOn the 2nd of August, Martin Ferron sold around 20k shares on-market at roughly US$25.06 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Martin has been a net seller over the last 12 months, reducing personal holdings by US$2.5m.
New Risk • Jul 29New major risk - Financial positionThe company's interest payments are not well covered by earnings. Net interest cover: 2.9x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.9x net interest cover). Minor Risk Significant insider selling over the past 3 months (US$879k sold).
Reported Earnings • Jul 28Second quarter 2023 earnings: EPS and revenues exceed analyst expectationsSecond quarter 2023 results: EPS: CA$0.46 (up from CA$0.27 in 2Q 2022). Revenue: CA$193.6m (up 15% from 2Q 2022). Net income: CA$12.3m (up 63% from 2Q 2022). Profit margin: 6.3% (up from 4.5% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 6.1%. Earnings per share (EPS) also surpassed analyst estimates by 12%. Revenue is forecast to grow 25% p.a. on average during the next 2 years, compared to a 8.9% growth forecast for the Energy Services industry in the US. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has increased by 57% per year, which means it is tracking significantly ahead of earnings growth.
お知らせ • Jul 28+ 1 more updateNorth American Construction Group Ltd. (TSX:NOA) entered into a definitive purchase and sale agreement to acquire Mackellar Mining Pty Ltd for CAD 395 million.North American Construction Group Ltd. (TSX:NOA) entered into a definitive purchase and sale agreement to acquire Mackellar Mining Pty Ltd for CAD 395 million on July 26, 2023. Under the terms of agreement, consideration consists of an upfront payment of CAD 67 million (AUD 75 million) which will be funded by the upsized revolving Credit Facility. In addition, liquidity from the Credit Facility and assumed equipment financing of MacKellar is estimated to provide CAD 200 million of the total consideration. The remaining amount will be paid as an earnout payment to be paid over 4 years. North American Construction Group currently has in place a CAD 300 million revolving credit facility with a syndicate of financial institutions. The transaction is subject to obtaining contractual consents and the satisfaction of other customary closing conditions. The transaction is expected to close in the fourth quarter of 2023. The transaction is represented less than 2.75x of expected EBITDA in 2024 and is expected to be over 50% accretive based on incremental earnings per share. National Bank Financial, Inc. acted as financial advisor to North American Construction Group. Fasken Martineau DuMoulin LLP and Corrs Chambers Westgarth acted as legal advisor to North American Construction Group.
New Risk • Jul 14New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 0.6% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.6% per year for the foreseeable future. Minor Risks High level of debt (107% net debt to equity). Significant insider selling over the past 3 months (US$879k sold).