View ValuationAecon Group 향후 성장Future 기준 점검 3/6Aecon Group (는) 각각 연간 61.6% 및 5.6% 수익과 수익이 증가할 것으로 예상됩니다. EPS는 연간 57% 만큼 성장할 것으로 예상됩니다. 자기자본이익률은 3년 후 11.7% 로 예상됩니다.핵심 정보61.6%이익 성장률57.04%EPS 성장률Construction 이익 성장10.9%매출 성장률5.6%향후 자기자본이익률11.75%애널리스트 커버리지Good마지막 업데이트21 May 2026최근 향후 성장 업데이트공시 • Oct 30Aecon Group Inc. Provides Financial Guidance for the Full Year 2025 and 2026Aecon Group Inc. provided financial guidance for the full year 2025 and 2026. For the full year 2025, the company's Revenue is expected to be stronger than 2024, driven by record reported backlog of $10.8 billion at the end of the third quarter of 2025, recurring revenue programs continuing to see solid demand, a strong bid pipeline, and the impact of strategic acquisitions completed in 2024 and 2025. For the year 2026, the company believes it is positioned to achieve further revenue growth.공시 • Jul 24Aecon Group Inc. Provides Earnings Guidance for the Year 2021Aecon Group Inc. provided earnings guidance for the year 2021. The overall outlook for 2021 remains positive as construction continues on a number of projects that ramped up in 2019 and 2020, and due to the level of backlog and new awards during 2021 and the strong demand environment for Aecon's services going forward, including recurring revenue programs, all subject to the unknown impacts of COVID-19 going forward.모든 업데이트 보기Recent updatesRecent Insider Transactions • May 21Non-Executive Chairman recently sold €621k worth of stockOn the 13th of May, John Beck sold around 20k shares on-market at roughly €31.03 per share. This transaction amounted to 9.0% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. John has been a net seller over the last 12 months, reducing personal holdings by €1.3m.공시 • Mar 27Aecon Group Inc. has completed a Follow-on Equity Offering in the amount of CAD 150.0135 million.Aecon Group Inc. has completed a Follow-on Equity Offering in the amount of CAD 150.0135 million. Security Name: Common Shares Security Type: Common Stock Securities Offered: 3,822,000 Price\Range: CAD 39.25 Discount Per Security: CAD 1.57공시 • Mar 26Aecon Group Inc. to Report Q1, 2026 Results on Apr 28, 2026Aecon Group Inc. announced that they will report Q1, 2026 results After-Market on Apr 28, 2026공시 • Mar 17Aecon Group Inc., Annual General Meeting, Jun 01, 2026Aecon Group Inc., Annual General Meeting, Jun 01, 2026.공시 • Mar 12Aecon Group Inc. has filed a Follow-on Equity Offering in the amount of CAD 150.0135 million.Aecon Group Inc. has filed a Follow-on Equity Offering in the amount of CAD 150.0135 million. Security Name: Common Shares Security Type: Common Stock Securities Offered: 3,822,000 Price\Range: CAD 39.25공시 • Mar 06+ 2 more updatesAecon Group Inc. Appoints Jeff Lyash to Board of Directors, Effective March 5, 2026Aecon Group Inc. announced the appointment of Jeff Lyash to Aecon’s Board of Directors, effective March 5, 2026. Mr. Lyash will stand for election as a Director at the next Annual General Meeting of the Corporation on June 1, 2026. Mr. Lyash brings four decades of nuclear and power industry experience, including over 20 years as a senior corporate executive. He previously served as President and CEO at Tennessee Valley Authority and Ontario Power Generation, President of Chicago Bridge & Iron Power, Executive Vice President of Energy Supply at Duke Energy and Progress Energy, and President and CEO at Progress Energy Florida, among other leadership roles. Mr. Lyash began his career at the U.S. Nuclear Regulatory Commission, where he served in senior technical and management positions. He currently serves on the Board of Directors for Dominion Energy Inc. and has previously served on the Board of Directors for Granite Construction, as well as multiple power industry institutes and associations. He received his undergraduate degree in Mechanical Engineering from Drexel University, where he currently serves as a member of the Board of Trustees. Mr. Lyash holds the ICD.D designation from the Institute of Corporate Directors, and the NACD.DC designation from the National Association of Corporate Directors.공시 • Jan 09Aecon Group Inc. to Report Q4, 2025 Results on Mar 05, 2026Aecon Group Inc. announced that they will report Q4, 2025 results After-Market on Mar 05, 2026공시 • Dec 16Aecon Group Inc. Announces Quarterly Dividend, Payable on January 5, 2026Aecon Group Inc. announced that the Board of Directors approved its next quarterly dividend of 19 cents per share. The dividend will be paid on January 5, 2026 to shareholders of record as of December 24, 2025.공시 • Oct 30Aecon Group Inc. Provides Financial Guidance for the Full Year 2025 and 2026Aecon Group Inc. provided financial guidance for the full year 2025 and 2026. For the full year 2025, the company's Revenue is expected to be stronger than 2024, driven by record reported backlog of $10.8 billion at the end of the third quarter of 2025, recurring revenue programs continuing to see solid demand, a strong bid pipeline, and the impact of strategic acquisitions completed in 2024 and 2025. For the year 2026, the company believes it is positioned to achieve further revenue growth.공시 • Sep 16Aecon Group Inc. to Report Q3, 2025 Results on Oct 29, 2025Aecon Group Inc. announced that they will report Q3, 2025 results at 4:00 PM, US Eastern Standard Time on Oct 29, 2025공시 • Aug 08Aecon Group Inc. (TSX:ARE) acquired Bodell Construction Co.Aecon Group Inc. (TSX:ARE) acquired Bodell Construction Co. on August 7, 2025. Aecon Group Inc. (TSX:ARE) completed the acquisition of Bodell Construction Co. on August 7, 2025.공시 • Aug 02Aecon Group Inc. announces Quarterly dividend, payable on October 02, 2025Aecon Group Inc. announced Quarterly dividend of CAD 0.1900 per share payable on October 02, 2025, ex-date on September 22, 2025 and record date on September 22, 2025.공시 • Jun 20Aecon Group Inc. to Report Q2, 2025 Results on Jul 31, 2025Aecon Group Inc. announced that they will report Q2, 2025 results After-Market on Jul 31, 2025공시 • Jun 04+ 1 more updateAecon Group Inc. Approves its Next Quarterly Dividend, Payable on July 3, 2025Aecon Group Inc.’s board of directors approved its next quarterly dividend of 19 cents per common share. The dividend will be paid on July 3, 2025 to shareholders of record as of June 23, 2025. Unless indicated otherwise, all common share dividends paid by Aecon to shareholders are designated as “eligible” dividends for the purpose of the Income Tax Act (Canada) and any similar provincial legislation.공시 • Apr 08Aecon Group Inc., Annual General Meeting, Jun 03, 2025Aecon Group Inc., Annual General Meeting, Jun 03, 2025. Location: ontario, toronto Canada공시 • Mar 26Aecon Group Inc. to Report Q1, 2025 Results on Apr 23, 2025Aecon Group Inc. announced that they will report Q1, 2025 results After-Market on Apr 23, 2025공시 • Mar 06Aecon Group Inc. Approves A Quarterly Dividend, Payable on April 2, 2025Aecon Group Inc. approved A Quarterly Dividend, Payable on April 2, 2025. For the period, the company reported dividend of 19 cents per share. The dividend will be paid to shareholders of record on March 21, 2025.공시 • Jan 10Aecon Group Inc. to Report Q4, 2024 Results on Mar 05, 2025Aecon Group Inc. announced that they will report Q4, 2024 results After-Market on Mar 05, 2025공시 • Dec 18Aecon Group Inc. (TSX:ARE) completed the acquisition of United Engineers & Constructors, Inc. (“United”) from CriticalPoint Partners, LLC.Aecon Group Inc. (TSX:ARE) agreed to acquire United Engineers & Constructors, Inc. (“United”) from CriticalPoint Partners, LLC for $33 million on October 28, 2024. A cash consideration of $33 million will be paid by Aecon Group Inc. The transaction is subject to customary adjustments and closing conditions, including obtaining all necessary regulatory approvals. United’s management and operational teams will join Aecon upon closing of the Transaction. Aecon Group Inc. (TSX:ARE) completed the acquisition of United Engineers & Constructors, Inc. (“United”) from CriticalPoint Partners, LLC on December 17, 2024.Reported Earnings • Nov 01Third quarter 2024 earnings released: EPS: CA$0.90 (vs CA$2.16 in 3Q 2023)Third quarter 2024 results: EPS: CA$0.90 (down from CA$2.16 in 3Q 2023). Revenue: CA$1.28b (up 2.9% from 3Q 2023). Net income: CA$56.5m (down 58% from 3Q 2023). Profit margin: 4.4% (down from 11% in 3Q 2023). Revenue is forecast to grow 8.0% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Construction industry in Europe. Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 7% per year.공시 • Oct 28Aecon Group Inc. (TSX:ARE) agreed to acquire United Engineers & Constructors, Inc. (“United”) from CriticalPoint Partners, LLC for $33 millionAecon Group Inc. (TSX:ARE) agreed to acquire United Engineers & Constructors, Inc. (“United”) from CriticalPoint Partners, LLC for $33 million on October 28, 2024. A cash consideration of $33 million will be paid by Aecon Group Inc. The transaction is subject to customary adjustments and closing conditions, including obtaining all necessary regulatory approvals. United’s management and operational teams will join Aecon upon closing of the Transaction.Upcoming Dividend • Sep 13Upcoming dividend of CA$0.19 per shareEligible shareholders must have bought the stock before 20 September 2024. Payment date: 02 October 2024. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 3.9%. Lower than top quartile of German dividend payers (4.9%). In line with average of industry peers (3.7%).Recent Insider Transactions • Aug 02Executive VP & CFO recently bought €103k worth of stockOn the 30th of July, Jerome Julier bought around 9k shares on-market at roughly €11.07 per share. This trade did not impact their existing holding. This was the largest purchase by an insider in the last 3 months. This was Jerome's only on-market trade for the last 12 months.Declared Dividend • Jul 29Second quarter dividend of CA$0.19 announcedShareholders will receive a dividend of CA$0.19. Ex-date: 20th September 2024 Payment date: 2nd October 2024 Dividend yield will be 5.9%, which is higher than the industry average of 2.9%. Sustainability & Growth Dividend is not covered by earnings (355% earnings payout ratio). However, it is well covered by cash flows (30% cash payout ratio). The dividend has increased by an average of 9.0% 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. The company's earnings per share (EPS) would need to grow by 295% to bring the payout ratio under control. EPS is expected to grow by 536% over the next 3 years, which is sufficient to bring the dividend into a sustainable range.New Risk • Jul 25New minor risk - Profit margin trendThe company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 0.3% Last year net profit margin: 1.5% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by earnings (347% payout ratio). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.3% net profit margin).Reported Earnings • Jul 25Second quarter 2024 earnings released: CA$1.99 loss per share (vs CA$0.46 profit in 2Q 2023)Second quarter 2024 results: CA$1.99 loss per share (down from CA$0.46 profit in 2Q 2023). Revenue: CA$853.8m (down 27% from 2Q 2023). Net loss: CA$123.9m (down CA$152.1m from profit in 2Q 2023). Revenue is forecast to grow 7.3% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Construction industry in Europe. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings.공시 • Jul 25Aecon Group Inc. Approves Quarterly Dividend, Payable on October 2, 2024Aecon Group Inc.’s board of directors approved its next quarterly dividend of 19 cents per share. The dividend will be paid on October 2, 2024 to shareholders of record as of September 20, 2024.Valuation Update With 7 Day Price Move • Jul 08Investor sentiment deteriorates as stock falls 18%After last week's 18% share price decline to €9.30, the stock trades at a forward P/E ratio of 171x. Average forward P/E is 12x in the Construction industry in Europe. Total loss to shareholders of 9.7% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €9.23 per share.공시 • Jun 15Aecon Group Inc. to Report Q2, 2024 Results on Jul 24, 2024Aecon Group Inc. announced that they will report Q2, 2024 results After-Market on Jul 24, 2024Declared Dividend • Jun 10First quarter dividend of CA$0.19 announcedShareholders will receive a dividend of CA$0.19. Ex-date: 21st June 2024 Payment date: 3rd July 2024 Dividend yield will be 5.0%, which is higher than the industry average of 2.9%. Sustainability & Growth Dividend is covered by earnings (28% earnings payout ratio) but not covered by cash flows (dividend approximately 42x free cash flows). The dividend has increased by an average of 9.0% 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 decline by 35% over the next year. However, it would need to fall by 69% to increase the payout ratio to a potentially unsustainable range.공시 • Jun 06+ 1 more updateAecon Group Inc. Announces Board ChangesAecon Group Inc. announced that the nominees listed in the Management Information Circular dated May 2, 2024 were elected as directors of Aecon, to hold office until the close of the next Annual General Meeting of the Corporation or until their successors are appointed. As disclosed, Anthony P. Franceschini and J.D. Hole did not stand for re-election and have retired from Aecon’s Board. On behalf of Aecon’s Board of Directors, John M. Beck, Chairman, announced the election of Leslie Kass, Rod Phillips and Scott Stewart to Aecon’s Board. Leslie Kass is currently serving as the CEO and Director of the Board of North Coast Holdings and Lewis Services. Ms. Kass is a respected leader with over 30 years of experience in the utility and energy sectors. She was previously the CEO at Babcock & Wilcox and served as Executive Vice President at TC Energy’s Corporate Technical Centre. Ms. Kass has also held leadership positions at Westinghouse Electric Company, Nuclear Energy Institute, Entergy, and Duke Energy. Ms. Kass earned an undergraduate degree in Materials Science and Engineering from the Massachusetts Institute of Technology and holds an MBA from Duke University. She has also served on the Board of Bruce Power and Babcock & Wilcox Enterprises. Rod Phillips is the Vice Chair of Canaccord Genuity Corporation and a member of the Board of Directors of Canaccord Genuity Group Inc. In 2018, he was elected as the Member of Provincial Parliament representing Ajax. Mr. Phillips also served as the Minister of Finance, the Minister of Long-Term Care, and the Minister of Environment, Conservation and Parks. Prior to his public service, he was the President and CEO of the Ontario Lottery and Gaming Corporation and Morneau-Shepell. Mr. Phillips served as the Chair of the Board of Postmedia Network Inc., as Canadian Chair and Global Advisory Board member of Afiniti, and served on the corporate boards of Data Communications Management, Top Aces, and the Interprovincial Lottery Corporation. A graduate of the MBA program at Wilfrid Laurier University, he also holds an Honours Bachelor of Arts degree in Political Science and English from Western University, and holds the Institute of Corporate Directors designation, ICD.D. Scott Stewart served for over four decades at IBI Group (“IBI”) taking on various leadership roles. Mr. Stewart led the growth of the company geographically across North America and internationally, and the diversification into technology and systems. He took over as the CEO of IBI in 2013 and fulfilled that role until the sale of the company in 2022. He was also a member of IBI’s Board of Directors from 2004 to 2022. Mr. Stewart’s current and previous Board experience spans various associations including the Transportation Association of Canada and the Intelligent Transportation Society of Canada. He holds a Civil Engineering degree from the University of Waterloo and is a Professional Engineer (P.Eng) in multiple Canadian jurisdictions. Mr. Franceschini held the role of Lead Director since 2021 and was also previously Chair of Aecon’s Audit Committee, a member of the Risk Committee, and the Environmental, Health and Safety Committee. He is the retired President and CEO of Stantec Inc. Mr. Hole served as Chair of Aecon’s Environmental, Health and Safety Committee and as a member of the Audit Committee. He previously served as Chairman of Lockerbie & Hole, an Aecon predecessor company.Buy Or Sell Opportunity • May 27Now 20% overvalued after recent price riseOver the last 90 days, the stock has risen 20% to €11.30. The fair value is estimated to be €9.41, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 8.0% over the last 3 years. Earnings per share has grown by 33%. Revenue is forecast to grow by 0.8% in a year. Earnings are forecast to decline by 52% in the next year.Buy Or Sell Opportunity • Apr 26Now 21% overvalued after recent price riseOver the last 90 days, the stock has risen 25% to €11.60. The fair value is estimated to be €9.59, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 8.0% over the last 3 years. Earnings per share has grown by 33%. Revenue is forecast to decline by 1.1% in a year. Earnings are forecast to decline by 56% in the next year.Reported Earnings • Apr 25First quarter 2024 earnings released: CA$0.10 loss per share (vs CA$0.15 loss in 1Q 2023)First quarter 2024 results: CA$0.10 loss per share (improved from CA$0.15 loss in 1Q 2023). Revenue: CA$846.6m (down 24% from 1Q 2023). Net loss: CA$6.12m (loss narrowed 35% from 1Q 2023). Revenue is forecast to grow 5.2% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Construction industry in Europe. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings.Buy Or Sell Opportunity • Apr 02Now 20% overvalued after recent price riseOver the last 90 days, the stock has risen 29% to €11.50. The fair value is estimated to be €9.56, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years. Earnings per share has grown by 17%. Revenue is forecast to grow by 3.7% in 2 years. Earnings are forecast to decline by 33% in the next 2 years.공시 • Mar 26Aecon Group Inc. to Report Q1, 2024 Results on Apr 24, 2024Aecon Group Inc. announced that they will report Q1, 2024 results After-Market on Apr 24, 2024Upcoming Dividend • Mar 14Upcoming dividend of CA$0.19 per shareEligible shareholders must have bought the stock before 21 March 2024. Payment date: 03 April 2024. Payout ratio is a comfortable 28% but the company is paying out more than the cash it is generating. Trailing yield: 4.7%. Lower than top quartile of German dividend payers (5.0%). Higher than average of industry peers (4.0%).Valuation Update With 7 Day Price Move • Mar 12Investor sentiment improves as stock rises 17%After last week's 17% share price gain to €11.40, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 12x in the Construction industry in Europe. Total returns to shareholders of 3.3% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €9.78 per share.공시 • Mar 11+ 1 more updateAecon Group Inc. Appoints Jerome Julier as Chief Financial Officer, Effective April 8, 2024Aecon Group Inc. announced that Jerome Julier has been appointed to the position of Chief Financial Officer, effective April 8, 2024. Most recently serving as Managing Director and Co-Head of CIBC Capital Markets’ Global Diversified Industries investment banking practice, Mr. Julier joins Aecon with nearly 20 years of leadership experience in finance, strategy, and capital markets with significant focus on industrial businesses in the construction, engineering, and transportation sectors. Mr. Julier has served as a trusted advisor to many of Aecon’s clients and partners and, in recent years, has worked closely with Aecon on several transactions, including the divestiture of Aecon Transportation East and the strategic investment by Oaktree Capital Management, L.P. in Aecon Utilities – strengthening Aecon’s balance sheet and positioning the business for future growth. Mr. Julier holds a Master of Business Administration from INSEAD in France and earned a Bachelor of Business Administration from the Schulich School of Business at York University.Declared Dividend • Mar 11Fourth quarter dividend of CA$0.19 announcedShareholders will receive a dividend of CA$0.19. Ex-date: 21st March 2024 Payment date: 3rd April 2024 Dividend yield will be 5.0%, which is higher than the industry average of 2.9%. Sustainability & Growth Dividend is covered by earnings (28% earnings payout ratio) but not covered by cash flows (175% cash payout ratio). The dividend has increased by an average of 9.0% 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 decline by 66% over the next 2 years. However, it would need to fall by 69% to increase the payout ratio to a potentially unsustainable range.New Risk • Mar 10New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 472% 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 Earnings are forecast to decline by an average of 24% per year for the foreseeable future. Minor Risks Dividend is not well covered by cash flows (175% cash payout ratio). Large one-off items impacting financial results. Significant insider selling over the past 3 months (€146k sold).공시 • Mar 07Aecon Group Inc., Annual General Meeting, Jun 04, 2024Aecon Group Inc., Annual General Meeting, Jun 04, 2024, at 09:00 Eastern Daylight. Location: 20 Carlson Court, Suite 105 Toronto CanadaReported Earnings • Mar 07Full year 2023 earnings released: EPS: CA$2.62 (vs CA$0.50 in FY 2022)Full year 2023 results: EPS: CA$2.62 (up from CA$0.50 in FY 2022). Revenue: CA$4.64b (down 1.1% from FY 2022). Net income: CA$161.9m (up 433% from FY 2022). Profit margin: 3.5% (up from 0.6% in FY 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 2.6% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the Construction industry in Europe. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings.공시 • Mar 06Aecon Group Inc. Announces Quarterly Dividend, Payable on April 3, 2024Aecon's Board of Directors approved an increase to the quarterly dividend to 19 cents per share from 18.5 cents per share previously. The first increased dividend will be paid on April 3, 2024, to shareholders of record on March 22, 2024.공시 • Jan 09Aecon Group Inc. to Report Q4, 2023 Results on Mar 05, 2024Aecon Group Inc. announced that they will report Q4, 2023 results After-Market on Mar 05, 2024Recent Insider Transactions • Dec 22Insider recently sold €83k worth of stockOn the 19th of December, Adam Borgatti sold around 10k shares on-market at roughly €8.24 per share. This transaction amounted to 74% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €742k more than they bought in the last 12 months.공시 • Dec 16Aecon Group Inc. Announces Departure of Its Chief Financial Officer, David Smales Effective January 26, 2024Aecon Group Inc. announced the departure of Chief Financial Officer David Smales who has decided to pursue another leadership opportunity. Mr. Smales will resign from his role effective January 26, 2024 and is committed to working with Aecon's management team to ensure a smooth transition. Aecon is considering all alternatives for his replacement. Mr. Smales joined Aecon as Executive Vice President and Chief Financial Officer in November 2009 and has been a guiding force on Aecon's leadership team. David built a strong multi-disciplinary team with oversight spanning all corporate and operational finance activities including Investor Relations, Capital Market activities, Information Services, Procurement, Insurance, Sustainability, and Communications.공시 • Dec 15Aecon Group Inc. Announces Upcoming Departure of David Smales, Executive Vice President Effective January 26, 2024Aecon Group Inc. announced the departure of Executive Vice President David Smales who has decided to pursue another leadership opportunity. Mr. Smales will resign from his role effective January 26, 2024 and is committed to working with Aecon's management team to ensure a smooth transition. Aecon is considering all alternatives for his replacement. Mr. Smales joined Aecon as Executive Vice President and Chief Financial Officer in November 2009 and has been a guiding force on Aecon's leadership team. David built a strong multi-disciplinary team with oversight spanning all corporate and operational finance activities including Investor Relations, Capital Market activities, Information Services, Procurement, Insurance, Sustainability, and Communications.공시 • Dec 13Aecon Group Inc. Announces Quarterly Dividend, Payable on January 3, 2024Aecon Group Inc. announced on December 8, 2023 Aecon's Board of Directors approved its next quarterly dividend of 18.5 cents per share. The dividend will be paid on January 3, 2024 to shareholders of record as of December 22, 2023.Recent Insider Transactions • Nov 01Non-Executive Chairman recently bought €67k worth of stockOn the 30th of October, John Beck bought around 10k shares on-market at roughly €6.68 per share. This trade did not impact their existing holding. This was the largest purchase by an insider in the last 3 months. This was John's only on-market trade for the last 12 months.New Risk • Oct 30New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 41% 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 Risks Earnings are forecast to decline by an average of 41% per year for the foreseeable future. High level of non-cash earnings (27% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows.Buying Opportunity • Oct 27Now 27% undervalued after recent price dropOver the last 90 days, the stock is down 11%. The fair value is estimated to be €8.48, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 2.4% in 2 years. Earnings is forecast to decline by 41% in the next 2 years.Reported Earnings • Oct 26Third quarter 2023 earnings released: EPS: CA$2.16 (vs CA$0.57 in 3Q 2022)Third quarter 2023 results: EPS: CA$2.16 (up from CA$0.57 in 3Q 2022). Revenue: CA$1.24b (down 6.1% from 3Q 2022). Net income: CA$133.4m (up 287% from 3Q 2022). Profit margin: 11% (up from 2.6% in 3Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 1.2% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Construction industry in Germany. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has fallen by 5% per year.New Risk • Oct 26New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 49% 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 Risks Earnings are forecast to decline by an average of 49% per year for the foreseeable future. High level of non-cash earnings (26% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (6.4% average weekly change).공시 • Sep 21Connor, Clark & Lunn Infrastructure Ltd. completed the acquisition of 49.9% stake in Bermuda Airport from Aecon Group Inc. (TSX:ARE) for $120 million.Connor, Clark & Lunn Infrastructure Ltd. entered into an agreement to acquire 49.9% stake in Bermuda Airport from Aecon Group Inc. (TSX:ARE) for approximately $130 million on March 15, 2023. The transaction is subject to customary closing conditions and is expected to close in the second quarter of 2023. Solomon Partners acted as financial advisor and McCarthy Tétrault LLP acted as legal advisor to Aecon Group Inc.Connor, Clark & Lunn Infrastructure Ltd. completed the acquisition of 49.9% stake in Bermuda Airport from Aecon Group Inc. (TSX:ARE) for $120 million on September 20, 2023. The final sale price was $120 million following certain closing adjustments. Aecon Concessions will retain the management contract for the airport and remain the controlling shareholder of Skyport, owning a 50.1% interest.공시 • Sep 19Aecon Group Inc. to Report Q3, 2023 Results on Oct 25, 2023Aecon Group Inc. announced that they will report Q3, 2023 results After-Market on Oct 25, 2023Upcoming Dividend • Sep 14Upcoming dividend of CA$0.18 per share at 6.8% yieldEligible shareholders must have bought the stock before 21 September 2023. Payment date: 03 October 2023. Payout ratio is a comfortable 62% but the company is not cash flow positive. Trailing yield: 6.8%. Within top quartile of German dividend payers (4.9%). Higher than average of industry peers (4.0%).Reported Earnings • Jul 28Second quarter 2023 earnings released: EPS: CA$0.46 (vs CA$0.10 loss in 2Q 2022)Second quarter 2023 results: EPS: CA$0.46 (up from CA$0.10 loss in 2Q 2022). Revenue: CA$1.17b (up 3.9% from 2Q 2022). Net income: CA$28.2m (up CA$34.6m from 2Q 2022). Profit margin: 2.4% (up from net loss in 2Q 2022). Revenue is forecast to stay flat during the next 3 years compared to a 3.0% growth forecast for the Construction industry in Germany. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings.공시 • Jun 20Aecon Group Inc. to Report Q2, 2023 Results on Jul 26, 2023Aecon Group Inc. announced that they will report Q2, 2023 results After-Market on Jul 26, 2023Upcoming Dividend • Jun 15Upcoming dividend of CA$0.18 per share at 5.6% yieldEligible shareholders must have bought the stock before 22 June 2023. Payment date: 05 July 2023. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 5.6%. Within top quartile of German dividend payers (4.6%). Higher than average of industry peers (3.7%).공시 • Jun 07+ 1 more updateAecon Group Approves Quarterly Dividend Payable on July 5, 2023Aecon's Board of Directors approved its next quarterly dividend of 18.5 cents per share. The dividend will be paid on July 5, 2023 to shareholders of record as of June 23, 2023.Reported Earnings • Apr 26First quarter 2023 earnings released: CA$0.15 loss per share (vs CA$0.29 loss in 1Q 2022)First quarter 2023 results: CA$0.15 loss per share (improved from CA$0.29 loss in 1Q 2022). Revenue: CA$1.11b (up 12% from 1Q 2022). Net loss: CA$9.44m (loss narrowed 46% from 1Q 2022). Revenue is forecast to grow 1.3% p.a. on average during the next 3 years, compared to a 2.3% growth forecast for the Construction industry in Europe. 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 2% per year, which means it has not declined as severely as earnings.Recent Insider Transactions • Mar 22President recently sold €730k worth of stockOn the 20th of March, Jean-Louis Servranckx sold around 81k shares on-market at roughly €8.98 per share. This transaction amounted to 94% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Jean-Louis has been a net seller over the last 12 months, reducing personal holdings by €1.1m.Upcoming Dividend • Mar 16Upcoming dividend of CA$0.18 per share at 5.6% yieldEligible shareholders must have bought the stock before 23 March 2023. Payment date: 04 April 2023. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 5.6%. Within top quartile of German dividend payers (4.8%). Higher than average of industry peers (3.9%).Valuation Update With 7 Day Price Move • Mar 07Investor sentiment improves as stock rises 17%After last week's 17% share price gain to €8.30, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 11x in the Construction industry in Europe. Total loss to shareholders of 7.4% over the past three years.Reported Earnings • Mar 01Full year 2022 earnings released: EPS: CA$0.50 (vs CA$0.82 in FY 2021)Full year 2022 results: EPS: CA$0.50 (down from CA$0.82 in FY 2021). Revenue: CA$4.70b (up 18% from FY 2021). Net income: CA$30.4m (down 39% from FY 2021). Profit margin: 0.6% (down from 1.2% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 1.1% p.a. on average during the next 3 years, compared to a 2.5% growth forecast for the Construction industry in Europe. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings.공시 • Jan 04Aecon Group Inc. to Report Fiscal Year 2022 Results on Feb 28, 2023Aecon Group Inc. announced that they will report fiscal year 2022 results at 4:00 PM, US Eastern Standard Time on Feb 28, 2023공시 • Jan 01Aecon Group Inc. Announces the Retirement of John W. Brace from the Board of DirectorsAecon Group Inc. announced that John W. Brace has retired from Aecon's Board of Directors. Mr. Brace was appointed to Aecon's Board of Directors in 2019 and served as Chair of the Risk Committee and as a contributing member of the Audit Committee.Upcoming Dividend • Dec 15Upcoming dividend of CA$0.18 per shareEligible shareholders must have bought the stock before 22 December 2022. Payment date: 04 January 2023. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 7.9%. Within top quartile of German dividend payers (4.9%). Higher than average of industry peers (4.0%).공시 • Dec 07Aecon Group Inc. Announces Quarterly Dividend, Payable on January 4, 2023Aecon Group Inc. announced its quarterly dividend of 18.5 cents per share will be paid on January 4, 2023 to shareholders of record as of December 23, 2022.Board Change • Nov 16Insufficient new directorsThere is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 5 experienced directors. 4 highly experienced directors. Independent Director Scott Thon was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.Reported Earnings • Oct 27Third quarter 2022 earnings released: EPS: CA$0.57 (vs CA$0.64 in 3Q 2021)Third quarter 2022 results: EPS: CA$0.57 (down from CA$0.64 in 3Q 2021). Revenue: CA$1.32b (up 14% from 3Q 2021). Net income: CA$34.5m (down 10% from 3Q 2021). Profit margin: 2.6% (down from 3.3% in 3Q 2021). Revenue is forecast to stay flat during the next 3 years compared to a 3.4% growth forecast for the Construction industry in Europe. Over the last 3 years on average, earnings per share has fallen by 22% per year whereas the company’s share price has fallen by 17% per year.공시 • Sep 20Aecon Group Inc. to Report Q3, 2022 Results on Oct 26, 2022Aecon Group Inc. announced that they will report Q3, 2022 results at 4:00 PM, US Eastern Standard Time on Oct 26, 2022Board Change • Aug 01Insufficient new directorsThere is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 5 experienced directors. 4 highly experienced directors. Independent Director Scott Thon was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.Reported Earnings • Jul 30Second quarter 2022 earnings releasedSecond quarter 2022 results: Revenue: CA$1.12b (up 16% from 2Q 2021). Net loss: CA$6.35m (down 136% from profit in 2Q 2021). Over the next year, revenue is forecast to grow 3.1%, compared to a 9.2% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has fallen by 14% per year, which means it is performing significantly worse than earnings.공시 • Jul 29Aecon Group Inc. Announces Quarterly Dividend, Payable on October 4, 2022Aecon's next quarterly dividend of 18.5 cents per share will be paid on October 4, 2022 to shareholders of record as of September 23, 2022.Board Change • Jul 02Insufficient new directorsThere is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 5 experienced directors. 4 highly experienced directors. Independent Director Scott Thon was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.공시 • Jun 14Aecon Group Inc. to Report Q2, 2022 Results on Jul 28, 2022Aecon Group Inc. announced that they will report Q2, 2022 results After-Market on Jul 28, 2022Reported Earnings • Apr 28First quarter 2022 earnings released: CA$0.29 loss per share (vs CA$0.30 loss in 1Q 2021)First quarter 2022 results: CA$0.29 loss per share (up from CA$0.30 loss in 1Q 2021). Revenue: CA$985.9m (up 31% from 1Q 2021). Net loss: CA$17.4m (loss narrowed 5.3% from 1Q 2021). Over the next year, revenue is forecast to stay flat compared to a 6.0% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has remained flat.Upcoming Dividend • Mar 17Upcoming dividend of CA$0.18 per shareEligible shareholders must have bought the stock before 24 March 2022. Payment date: 04 April 2022. Payout ratio is on the higher end at 85% but the company is not cash flow positive. Trailing yield: 4.7%. Within top quartile of German dividend payers (3.6%). Higher than average of industry peers (3.8%).Reported Earnings • Mar 03Full year 2021 earnings: EPS in line with expectations, revenues disappointFull year 2021 results: EPS: CA$0.82 (down from CA$1.47 in FY 2020). Revenue: CA$3.98b (up 9.2% from FY 2020). Net income: CA$49.7m (down 44% from FY 2020). Profit margin: 1.2% (down from 2.4% in FY 2020). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 1.0%. Over the next year, revenue is forecast to grow 4.1%, compared to a 5.7% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has fallen by 2% per year.공시 • Mar 03Aecon Group Inc. Approves Quarterly Dividend , Payable on April 4,2022Aecon Group Inc. announced that the Board of Directors approved an increase to the quarterly dividend to 18.5 cents per share from 17.5 cents per share previously. The first increased dividend will be paid on April 4, 2022 to shareholders of record on March 25, 2022.공시 • Feb 06Aecon Group Inc., Annual General Meeting, Jun 02, 2022Aecon Group Inc., Annual General Meeting, Jun 02, 2022.Recent Insider Transactions • Dec 05President recently bought €221k worth of stockOn the 1st of December, Jean-Louis Servranckx bought around 20k shares on-market at roughly €11.17 per share. This was the largest purchase by an insider in the last 3 months. This was Jean-Louis' only on-market trade for the last 12 months.Reported Earnings • Oct 30Third quarter 2021 earnings released: EPS CA$0.64 (vs CA$1.23 in 3Q 2020)The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: CA$1.16b (up 12% from 3Q 2020). Net income: CA$38.4m (down 48% from 3Q 2020). Profit margin: 3.3% (down from 7.1% in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth.Upcoming Dividend • Sep 16Upcoming dividend of CA$0.17 per shareEligible shareholders must have bought the stock before 23 September 2021. Payment date: 04 October 2021. Trailing yield: 3.2%. Within top quartile of German dividend payers (3.2%). In line with average of industry peers (3.1%).공시 • Jul 24Aecon Group Inc. Provides Earnings Guidance for the Year 2021Aecon Group Inc. provided earnings guidance for the year 2021. The overall outlook for 2021 remains positive as construction continues on a number of projects that ramped up in 2019 and 2020, and due to the level of backlog and new awards during 2021 and the strong demand environment for Aecon's services going forward, including recurring revenue programs, all subject to the unknown impacts of COVID-19 going forward.Reported Earnings • Jul 24Second quarter 2021 earnings released: EPS CA$0.29 (vs CA$0.10 loss in 2Q 2020)The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: CA$971.3m (up 25% from 2Q 2020). Net income: CA$17.6m (up CA$23.8m from 2Q 2020). Profit margin: 1.8% (up from net loss in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth.Upcoming Dividend • Jun 17Upcoming dividend of CA$0.17 per shareEligible shareholders must have bought the stock before 24 June 2021. Payment date: 05 July 2021. Trailing yield: 3.9%. Within top quartile of German dividend payers (3.2%). Higher than average of industry peers (3.2%).Executive Departure • Jun 10Independent Corporate Director Joseph Carrabba has left the companyOn the 8th of June, Joseph Carrabba's tenure as Independent Corporate Director ended after 7.9 years in the role. We don't have any record of a personal shareholding under Joseph's name. Joseph is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 4.50 years.Reported Earnings • Apr 24First quarter 2021 earnings released: CA$0.31 loss per share (vs CA$0.19 loss in 1Q 2020)The company reported a poor first quarter result with increased losses and weaker control over costs, although revenues were flat. First quarter 2021 results: Revenue: CA$754.0m (flat on 1Q 2020). Net loss: CA$18.4m (loss widened 61% from 1Q 2020). Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth.Upcoming Dividend • Mar 15Upcoming Dividend of CA$0.17 Per ShareWill be paid on the 5th of April to those who are registered shareholders by the 22nd of March. The trailing yield of 3.3% is below the top quartile of German dividend payers (3.3%), but is in line with industry peers (3.2%).Is New 90 Day High Low • Mar 01New 90-day high: €12.40The company is up 19% from its price of €10.40 on 01 December 2020. The German market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Construction industry, which is down 8.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €31.94 per share.이익 및 매출 성장 예측DB:2AE - 애널리스트 향후 추정치 및 과거 재무 데이터 (CAD Millions)날짜매출이익자유현금흐름영업현금흐름평균 애널리스트 수12/31/20286,553N/AN/AN/A112/31/20276,2361321552791112/31/20265,9569761217113/31/20265,63035191261N/A12/31/20255,4351559127N/A9/30/20255,1608-90-34N/A6/30/20254,90625-90-31N/A3/31/20254,458-91-76-9N/A12/31/20244,243-60-468N/A9/30/20244,106-6496147N/A6/30/20244,07013157199N/A3/31/20244,383165131N/A12/31/20234,6441622751N/A9/30/20234,780172-122-88N/A6/30/20234,86173-253-210N/A3/31/20234,81838-122-80N/A12/31/20224,69630-155-114N/A9/30/20224,51823-113-77N/A6/30/20224,36127-120-94N/A3/31/20224,20951-174-143N/A12/31/20213,97750-73-31N/A9/30/20213,9667018109N/A6/30/20213,842105155262N/A3/31/20213,65081124242N/A12/31/20203,64488134273N/A9/30/20203,48476206333N/A6/30/20203,4704531186N/A3/31/20203,55871-5187N/A12/31/20193,46073N/A196N/A9/30/20193,49281N/A-77N/A6/30/20193,48680N/A106N/A3/31/20193,37368N/A385N/A12/31/20183,26659N/A369N/A9/30/20183,00352N/A545N/A6/30/20182,74335N/A421N/A3/31/20182,67427N/A90N/A12/31/20172,80628N/A197N/A9/30/20172,96636N/A113N/A6/30/20173,04439N/A132N/A3/31/20173,19745N/A174N/A12/31/20163,21347N/A27N/A9/30/20163,24265N/A65N/A6/30/20163,27964N/A26N/A3/31/20163,10769N/A95N/A12/31/20152,91869N/A58N/A9/30/20152,76650N/A43N/A6/30/20152,73164N/A85N/A더 보기애널리스트 향후 성장 전망수입 대 저축률: 2AE 의 연간 예상 수익 증가율(61.6%)이 saving rate(1.9%)보다 높습니다.수익 vs 시장: 2AE 의 연간 수익(61.6%)이 German 시장(17.1%)보다 빠르게 성장할 것으로 예상됩니다.고성장 수익: 2AE 의 수입은 향후 3년 동안 상당히 증가할 것으로 예상됩니다.수익 대 시장: 2AE 의 수익(연간 5.6%)이 German 시장(연간 6.8%)보다 느리게 성장할 것으로 예상됩니다.고성장 매출: 2AE 의 수익(연간 5.6%)은 연간 20%보다 느리게 증가할 것으로 예상됩니다.주당순이익 성장 예측향후 자기자본이익률미래 ROE: 2AE의 자본 수익률은 3년 후 11.7%로 낮을 것으로 예상됩니다.성장 기업 찾아보기7D1Y7D1Y7D1YCapital-goods 산업의 고성장 기업.View Past Performance기업 분석 및 재무 데이터 상태데이터최종 업데이트 (UTC 시간)기업 분석2026/05/24 20:09종가2026/05/22 00:00수익2026/03/31연간 수익2025/12/31데이터 소스당사의 기업 분석에 사용되는 데이터는 S&P Global Market Intelligence LLC에서 제공됩니다. 아래 데이터는 이 보고서를 생성하기 위해 분석 모델에서 사용됩니다. 데이터는 정규화되므로 소스가 제공된 후 지연이 발생할 수 있습니다.패키지데이터기간미국 소스 예시 *기업 재무제표10년손익계산서현금흐름표대차대조표SEC 양식 10-KSEC 양식 10-Q분석가 컨센서스 추정치+3년재무 예측분석가 목표주가분석가 리서치 보고서Blue Matrix시장 가격30년주가배당, 분할 및 기타 조치ICE 시장 데이터SEC 양식 S-1지분 구조10년주요 주주내부자 거래SEC 양식 4SEC 양식 13D경영진10년리더십 팀이사회SEC 양식 10-KSEC 양식 DEF 14A주요 개발10년회사 공시SEC 양식 8-K* 미국 증권에 대한 예시이며, 비(非)미국 증권에는 해당 국가의 규제 서식 및 자료원을 사용합니다.별도로 명시되지 않는 한 모든 재무 데이터는 연간 기간을 기준으로 하지만 분기별로 업데이트됩니다. 이를 TTM(최근 12개월) 또는 LTM(지난 12개월) 데이터라고 합니다. 자세히 알아보기.분석 모델 및 스노우플레이크이 보고서를 생성하는 데 사용된 분석 모델에 대한 자세한 내용은 당사의 Github 페이지에서 확인하실 수 있습니다. 또한 보고서 활용 방법에 대한 가이드와 YouTube 튜토리얼도 제공합니다.Simply Wall St 분석 모델을 설계하고 구축한 세계적 수준의 팀에 대해 알아보세요.산업 및 섹터 지표산업 및 섹터 지표는 Simply Wall St가 6시간마다 계산하며, 프로세스에 대한 자세한 내용은 Github에서 확인할 수 있습니다.분석가 소스Aecon Group Inc.는 17명의 분석가가 다루고 있습니다. 이 중 11명의 분석가가 우리 보고서에 입력 데이터로 사용되는 매출 또는 수익 추정치를 제출했습니다. 분석가의 제출 자료는 하루 종일 업데이트됩니다.분석가기관Christopher MurrayATB CormarkGareth TinglingBeacon Securities LimitedDevin DodgeBMO Capital Markets Equity Research14명의 분석가 더 보기
공시 • Oct 30Aecon Group Inc. Provides Financial Guidance for the Full Year 2025 and 2026Aecon Group Inc. provided financial guidance for the full year 2025 and 2026. For the full year 2025, the company's Revenue is expected to be stronger than 2024, driven by record reported backlog of $10.8 billion at the end of the third quarter of 2025, recurring revenue programs continuing to see solid demand, a strong bid pipeline, and the impact of strategic acquisitions completed in 2024 and 2025. For the year 2026, the company believes it is positioned to achieve further revenue growth.
공시 • Jul 24Aecon Group Inc. Provides Earnings Guidance for the Year 2021Aecon Group Inc. provided earnings guidance for the year 2021. The overall outlook for 2021 remains positive as construction continues on a number of projects that ramped up in 2019 and 2020, and due to the level of backlog and new awards during 2021 and the strong demand environment for Aecon's services going forward, including recurring revenue programs, all subject to the unknown impacts of COVID-19 going forward.
Recent Insider Transactions • May 21Non-Executive Chairman recently sold €621k worth of stockOn the 13th of May, John Beck sold around 20k shares on-market at roughly €31.03 per share. This transaction amounted to 9.0% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. John has been a net seller over the last 12 months, reducing personal holdings by €1.3m.
공시 • Mar 27Aecon Group Inc. has completed a Follow-on Equity Offering in the amount of CAD 150.0135 million.Aecon Group Inc. has completed a Follow-on Equity Offering in the amount of CAD 150.0135 million. Security Name: Common Shares Security Type: Common Stock Securities Offered: 3,822,000 Price\Range: CAD 39.25 Discount Per Security: CAD 1.57
공시 • Mar 26Aecon Group Inc. to Report Q1, 2026 Results on Apr 28, 2026Aecon Group Inc. announced that they will report Q1, 2026 results After-Market on Apr 28, 2026
공시 • Mar 17Aecon Group Inc., Annual General Meeting, Jun 01, 2026Aecon Group Inc., Annual General Meeting, Jun 01, 2026.
공시 • Mar 12Aecon Group Inc. has filed a Follow-on Equity Offering in the amount of CAD 150.0135 million.Aecon Group Inc. has filed a Follow-on Equity Offering in the amount of CAD 150.0135 million. Security Name: Common Shares Security Type: Common Stock Securities Offered: 3,822,000 Price\Range: CAD 39.25
공시 • Mar 06+ 2 more updatesAecon Group Inc. Appoints Jeff Lyash to Board of Directors, Effective March 5, 2026Aecon Group Inc. announced the appointment of Jeff Lyash to Aecon’s Board of Directors, effective March 5, 2026. Mr. Lyash will stand for election as a Director at the next Annual General Meeting of the Corporation on June 1, 2026. Mr. Lyash brings four decades of nuclear and power industry experience, including over 20 years as a senior corporate executive. He previously served as President and CEO at Tennessee Valley Authority and Ontario Power Generation, President of Chicago Bridge & Iron Power, Executive Vice President of Energy Supply at Duke Energy and Progress Energy, and President and CEO at Progress Energy Florida, among other leadership roles. Mr. Lyash began his career at the U.S. Nuclear Regulatory Commission, where he served in senior technical and management positions. He currently serves on the Board of Directors for Dominion Energy Inc. and has previously served on the Board of Directors for Granite Construction, as well as multiple power industry institutes and associations. He received his undergraduate degree in Mechanical Engineering from Drexel University, where he currently serves as a member of the Board of Trustees. Mr. Lyash holds the ICD.D designation from the Institute of Corporate Directors, and the NACD.DC designation from the National Association of Corporate Directors.
공시 • Jan 09Aecon Group Inc. to Report Q4, 2025 Results on Mar 05, 2026Aecon Group Inc. announced that they will report Q4, 2025 results After-Market on Mar 05, 2026
공시 • Dec 16Aecon Group Inc. Announces Quarterly Dividend, Payable on January 5, 2026Aecon Group Inc. announced that the Board of Directors approved its next quarterly dividend of 19 cents per share. The dividend will be paid on January 5, 2026 to shareholders of record as of December 24, 2025.
공시 • Oct 30Aecon Group Inc. Provides Financial Guidance for the Full Year 2025 and 2026Aecon Group Inc. provided financial guidance for the full year 2025 and 2026. For the full year 2025, the company's Revenue is expected to be stronger than 2024, driven by record reported backlog of $10.8 billion at the end of the third quarter of 2025, recurring revenue programs continuing to see solid demand, a strong bid pipeline, and the impact of strategic acquisitions completed in 2024 and 2025. For the year 2026, the company believes it is positioned to achieve further revenue growth.
공시 • Sep 16Aecon Group Inc. to Report Q3, 2025 Results on Oct 29, 2025Aecon Group Inc. announced that they will report Q3, 2025 results at 4:00 PM, US Eastern Standard Time on Oct 29, 2025
공시 • Aug 08Aecon Group Inc. (TSX:ARE) acquired Bodell Construction Co.Aecon Group Inc. (TSX:ARE) acquired Bodell Construction Co. on August 7, 2025. Aecon Group Inc. (TSX:ARE) completed the acquisition of Bodell Construction Co. on August 7, 2025.
공시 • Aug 02Aecon Group Inc. announces Quarterly dividend, payable on October 02, 2025Aecon Group Inc. announced Quarterly dividend of CAD 0.1900 per share payable on October 02, 2025, ex-date on September 22, 2025 and record date on September 22, 2025.
공시 • Jun 20Aecon Group Inc. to Report Q2, 2025 Results on Jul 31, 2025Aecon Group Inc. announced that they will report Q2, 2025 results After-Market on Jul 31, 2025
공시 • Jun 04+ 1 more updateAecon Group Inc. Approves its Next Quarterly Dividend, Payable on July 3, 2025Aecon Group Inc.’s board of directors approved its next quarterly dividend of 19 cents per common share. The dividend will be paid on July 3, 2025 to shareholders of record as of June 23, 2025. Unless indicated otherwise, all common share dividends paid by Aecon to shareholders are designated as “eligible” dividends for the purpose of the Income Tax Act (Canada) and any similar provincial legislation.
공시 • Apr 08Aecon Group Inc., Annual General Meeting, Jun 03, 2025Aecon Group Inc., Annual General Meeting, Jun 03, 2025. Location: ontario, toronto Canada
공시 • Mar 26Aecon Group Inc. to Report Q1, 2025 Results on Apr 23, 2025Aecon Group Inc. announced that they will report Q1, 2025 results After-Market on Apr 23, 2025
공시 • Mar 06Aecon Group Inc. Approves A Quarterly Dividend, Payable on April 2, 2025Aecon Group Inc. approved A Quarterly Dividend, Payable on April 2, 2025. For the period, the company reported dividend of 19 cents per share. The dividend will be paid to shareholders of record on March 21, 2025.
공시 • Jan 10Aecon Group Inc. to Report Q4, 2024 Results on Mar 05, 2025Aecon Group Inc. announced that they will report Q4, 2024 results After-Market on Mar 05, 2025
공시 • Dec 18Aecon Group Inc. (TSX:ARE) completed the acquisition of United Engineers & Constructors, Inc. (“United”) from CriticalPoint Partners, LLC.Aecon Group Inc. (TSX:ARE) agreed to acquire United Engineers & Constructors, Inc. (“United”) from CriticalPoint Partners, LLC for $33 million on October 28, 2024. A cash consideration of $33 million will be paid by Aecon Group Inc. The transaction is subject to customary adjustments and closing conditions, including obtaining all necessary regulatory approvals. United’s management and operational teams will join Aecon upon closing of the Transaction. Aecon Group Inc. (TSX:ARE) completed the acquisition of United Engineers & Constructors, Inc. (“United”) from CriticalPoint Partners, LLC on December 17, 2024.
Reported Earnings • Nov 01Third quarter 2024 earnings released: EPS: CA$0.90 (vs CA$2.16 in 3Q 2023)Third quarter 2024 results: EPS: CA$0.90 (down from CA$2.16 in 3Q 2023). Revenue: CA$1.28b (up 2.9% from 3Q 2023). Net income: CA$56.5m (down 58% from 3Q 2023). Profit margin: 4.4% (down from 11% in 3Q 2023). Revenue is forecast to grow 8.0% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Construction industry in Europe. Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 7% per year.
공시 • Oct 28Aecon Group Inc. (TSX:ARE) agreed to acquire United Engineers & Constructors, Inc. (“United”) from CriticalPoint Partners, LLC for $33 millionAecon Group Inc. (TSX:ARE) agreed to acquire United Engineers & Constructors, Inc. (“United”) from CriticalPoint Partners, LLC for $33 million on October 28, 2024. A cash consideration of $33 million will be paid by Aecon Group Inc. The transaction is subject to customary adjustments and closing conditions, including obtaining all necessary regulatory approvals. United’s management and operational teams will join Aecon upon closing of the Transaction.
Upcoming Dividend • Sep 13Upcoming dividend of CA$0.19 per shareEligible shareholders must have bought the stock before 20 September 2024. Payment date: 02 October 2024. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 3.9%. Lower than top quartile of German dividend payers (4.9%). In line with average of industry peers (3.7%).
Recent Insider Transactions • Aug 02Executive VP & CFO recently bought €103k worth of stockOn the 30th of July, Jerome Julier bought around 9k shares on-market at roughly €11.07 per share. This trade did not impact their existing holding. This was the largest purchase by an insider in the last 3 months. This was Jerome's only on-market trade for the last 12 months.
Declared Dividend • Jul 29Second quarter dividend of CA$0.19 announcedShareholders will receive a dividend of CA$0.19. Ex-date: 20th September 2024 Payment date: 2nd October 2024 Dividend yield will be 5.9%, which is higher than the industry average of 2.9%. Sustainability & Growth Dividend is not covered by earnings (355% earnings payout ratio). However, it is well covered by cash flows (30% cash payout ratio). The dividend has increased by an average of 9.0% 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. The company's earnings per share (EPS) would need to grow by 295% to bring the payout ratio under control. EPS is expected to grow by 536% over the next 3 years, which is sufficient to bring the dividend into a sustainable range.
New Risk • Jul 25New minor risk - Profit margin trendThe company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 0.3% Last year net profit margin: 1.5% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by earnings (347% payout ratio). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.3% net profit margin).
Reported Earnings • Jul 25Second quarter 2024 earnings released: CA$1.99 loss per share (vs CA$0.46 profit in 2Q 2023)Second quarter 2024 results: CA$1.99 loss per share (down from CA$0.46 profit in 2Q 2023). Revenue: CA$853.8m (down 27% from 2Q 2023). Net loss: CA$123.9m (down CA$152.1m from profit in 2Q 2023). Revenue is forecast to grow 7.3% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Construction industry in Europe. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings.
공시 • Jul 25Aecon Group Inc. Approves Quarterly Dividend, Payable on October 2, 2024Aecon Group Inc.’s board of directors approved its next quarterly dividend of 19 cents per share. The dividend will be paid on October 2, 2024 to shareholders of record as of September 20, 2024.
Valuation Update With 7 Day Price Move • Jul 08Investor sentiment deteriorates as stock falls 18%After last week's 18% share price decline to €9.30, the stock trades at a forward P/E ratio of 171x. Average forward P/E is 12x in the Construction industry in Europe. Total loss to shareholders of 9.7% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €9.23 per share.
공시 • Jun 15Aecon Group Inc. to Report Q2, 2024 Results on Jul 24, 2024Aecon Group Inc. announced that they will report Q2, 2024 results After-Market on Jul 24, 2024
Declared Dividend • Jun 10First quarter dividend of CA$0.19 announcedShareholders will receive a dividend of CA$0.19. Ex-date: 21st June 2024 Payment date: 3rd July 2024 Dividend yield will be 5.0%, which is higher than the industry average of 2.9%. Sustainability & Growth Dividend is covered by earnings (28% earnings payout ratio) but not covered by cash flows (dividend approximately 42x free cash flows). The dividend has increased by an average of 9.0% 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 decline by 35% over the next year. However, it would need to fall by 69% to increase the payout ratio to a potentially unsustainable range.
공시 • Jun 06+ 1 more updateAecon Group Inc. Announces Board ChangesAecon Group Inc. announced that the nominees listed in the Management Information Circular dated May 2, 2024 were elected as directors of Aecon, to hold office until the close of the next Annual General Meeting of the Corporation or until their successors are appointed. As disclosed, Anthony P. Franceschini and J.D. Hole did not stand for re-election and have retired from Aecon’s Board. On behalf of Aecon’s Board of Directors, John M. Beck, Chairman, announced the election of Leslie Kass, Rod Phillips and Scott Stewart to Aecon’s Board. Leslie Kass is currently serving as the CEO and Director of the Board of North Coast Holdings and Lewis Services. Ms. Kass is a respected leader with over 30 years of experience in the utility and energy sectors. She was previously the CEO at Babcock & Wilcox and served as Executive Vice President at TC Energy’s Corporate Technical Centre. Ms. Kass has also held leadership positions at Westinghouse Electric Company, Nuclear Energy Institute, Entergy, and Duke Energy. Ms. Kass earned an undergraduate degree in Materials Science and Engineering from the Massachusetts Institute of Technology and holds an MBA from Duke University. She has also served on the Board of Bruce Power and Babcock & Wilcox Enterprises. Rod Phillips is the Vice Chair of Canaccord Genuity Corporation and a member of the Board of Directors of Canaccord Genuity Group Inc. In 2018, he was elected as the Member of Provincial Parliament representing Ajax. Mr. Phillips also served as the Minister of Finance, the Minister of Long-Term Care, and the Minister of Environment, Conservation and Parks. Prior to his public service, he was the President and CEO of the Ontario Lottery and Gaming Corporation and Morneau-Shepell. Mr. Phillips served as the Chair of the Board of Postmedia Network Inc., as Canadian Chair and Global Advisory Board member of Afiniti, and served on the corporate boards of Data Communications Management, Top Aces, and the Interprovincial Lottery Corporation. A graduate of the MBA program at Wilfrid Laurier University, he also holds an Honours Bachelor of Arts degree in Political Science and English from Western University, and holds the Institute of Corporate Directors designation, ICD.D. Scott Stewart served for over four decades at IBI Group (“IBI”) taking on various leadership roles. Mr. Stewart led the growth of the company geographically across North America and internationally, and the diversification into technology and systems. He took over as the CEO of IBI in 2013 and fulfilled that role until the sale of the company in 2022. He was also a member of IBI’s Board of Directors from 2004 to 2022. Mr. Stewart’s current and previous Board experience spans various associations including the Transportation Association of Canada and the Intelligent Transportation Society of Canada. He holds a Civil Engineering degree from the University of Waterloo and is a Professional Engineer (P.Eng) in multiple Canadian jurisdictions. Mr. Franceschini held the role of Lead Director since 2021 and was also previously Chair of Aecon’s Audit Committee, a member of the Risk Committee, and the Environmental, Health and Safety Committee. He is the retired President and CEO of Stantec Inc. Mr. Hole served as Chair of Aecon’s Environmental, Health and Safety Committee and as a member of the Audit Committee. He previously served as Chairman of Lockerbie & Hole, an Aecon predecessor company.
Buy Or Sell Opportunity • May 27Now 20% overvalued after recent price riseOver the last 90 days, the stock has risen 20% to €11.30. The fair value is estimated to be €9.41, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 8.0% over the last 3 years. Earnings per share has grown by 33%. Revenue is forecast to grow by 0.8% in a year. Earnings are forecast to decline by 52% in the next year.
Buy Or Sell Opportunity • Apr 26Now 21% overvalued after recent price riseOver the last 90 days, the stock has risen 25% to €11.60. The fair value is estimated to be €9.59, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 8.0% over the last 3 years. Earnings per share has grown by 33%. Revenue is forecast to decline by 1.1% in a year. Earnings are forecast to decline by 56% in the next year.
Reported Earnings • Apr 25First quarter 2024 earnings released: CA$0.10 loss per share (vs CA$0.15 loss in 1Q 2023)First quarter 2024 results: CA$0.10 loss per share (improved from CA$0.15 loss in 1Q 2023). Revenue: CA$846.6m (down 24% from 1Q 2023). Net loss: CA$6.12m (loss narrowed 35% from 1Q 2023). Revenue is forecast to grow 5.2% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Construction industry in Europe. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings.
Buy Or Sell Opportunity • Apr 02Now 20% overvalued after recent price riseOver the last 90 days, the stock has risen 29% to €11.50. The fair value is estimated to be €9.56, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years. Earnings per share has grown by 17%. Revenue is forecast to grow by 3.7% in 2 years. Earnings are forecast to decline by 33% in the next 2 years.
공시 • Mar 26Aecon Group Inc. to Report Q1, 2024 Results on Apr 24, 2024Aecon Group Inc. announced that they will report Q1, 2024 results After-Market on Apr 24, 2024
Upcoming Dividend • Mar 14Upcoming dividend of CA$0.19 per shareEligible shareholders must have bought the stock before 21 March 2024. Payment date: 03 April 2024. Payout ratio is a comfortable 28% but the company is paying out more than the cash it is generating. Trailing yield: 4.7%. Lower than top quartile of German dividend payers (5.0%). Higher than average of industry peers (4.0%).
Valuation Update With 7 Day Price Move • Mar 12Investor sentiment improves as stock rises 17%After last week's 17% share price gain to €11.40, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 12x in the Construction industry in Europe. Total returns to shareholders of 3.3% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €9.78 per share.
공시 • Mar 11+ 1 more updateAecon Group Inc. Appoints Jerome Julier as Chief Financial Officer, Effective April 8, 2024Aecon Group Inc. announced that Jerome Julier has been appointed to the position of Chief Financial Officer, effective April 8, 2024. Most recently serving as Managing Director and Co-Head of CIBC Capital Markets’ Global Diversified Industries investment banking practice, Mr. Julier joins Aecon with nearly 20 years of leadership experience in finance, strategy, and capital markets with significant focus on industrial businesses in the construction, engineering, and transportation sectors. Mr. Julier has served as a trusted advisor to many of Aecon’s clients and partners and, in recent years, has worked closely with Aecon on several transactions, including the divestiture of Aecon Transportation East and the strategic investment by Oaktree Capital Management, L.P. in Aecon Utilities – strengthening Aecon’s balance sheet and positioning the business for future growth. Mr. Julier holds a Master of Business Administration from INSEAD in France and earned a Bachelor of Business Administration from the Schulich School of Business at York University.
Declared Dividend • Mar 11Fourth quarter dividend of CA$0.19 announcedShareholders will receive a dividend of CA$0.19. Ex-date: 21st March 2024 Payment date: 3rd April 2024 Dividend yield will be 5.0%, which is higher than the industry average of 2.9%. Sustainability & Growth Dividend is covered by earnings (28% earnings payout ratio) but not covered by cash flows (175% cash payout ratio). The dividend has increased by an average of 9.0% 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 decline by 66% over the next 2 years. However, it would need to fall by 69% to increase the payout ratio to a potentially unsustainable range.
New Risk • Mar 10New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 472% 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 Earnings are forecast to decline by an average of 24% per year for the foreseeable future. Minor Risks Dividend is not well covered by cash flows (175% cash payout ratio). Large one-off items impacting financial results. Significant insider selling over the past 3 months (€146k sold).
공시 • Mar 07Aecon Group Inc., Annual General Meeting, Jun 04, 2024Aecon Group Inc., Annual General Meeting, Jun 04, 2024, at 09:00 Eastern Daylight. Location: 20 Carlson Court, Suite 105 Toronto Canada
Reported Earnings • Mar 07Full year 2023 earnings released: EPS: CA$2.62 (vs CA$0.50 in FY 2022)Full year 2023 results: EPS: CA$2.62 (up from CA$0.50 in FY 2022). Revenue: CA$4.64b (down 1.1% from FY 2022). Net income: CA$161.9m (up 433% from FY 2022). Profit margin: 3.5% (up from 0.6% in FY 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 2.6% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the Construction industry in Europe. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings.
공시 • Mar 06Aecon Group Inc. Announces Quarterly Dividend, Payable on April 3, 2024Aecon's Board of Directors approved an increase to the quarterly dividend to 19 cents per share from 18.5 cents per share previously. The first increased dividend will be paid on April 3, 2024, to shareholders of record on March 22, 2024.
공시 • Jan 09Aecon Group Inc. to Report Q4, 2023 Results on Mar 05, 2024Aecon Group Inc. announced that they will report Q4, 2023 results After-Market on Mar 05, 2024
Recent Insider Transactions • Dec 22Insider recently sold €83k worth of stockOn the 19th of December, Adam Borgatti sold around 10k shares on-market at roughly €8.24 per share. This transaction amounted to 74% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €742k more than they bought in the last 12 months.
공시 • Dec 16Aecon Group Inc. Announces Departure of Its Chief Financial Officer, David Smales Effective January 26, 2024Aecon Group Inc. announced the departure of Chief Financial Officer David Smales who has decided to pursue another leadership opportunity. Mr. Smales will resign from his role effective January 26, 2024 and is committed to working with Aecon's management team to ensure a smooth transition. Aecon is considering all alternatives for his replacement. Mr. Smales joined Aecon as Executive Vice President and Chief Financial Officer in November 2009 and has been a guiding force on Aecon's leadership team. David built a strong multi-disciplinary team with oversight spanning all corporate and operational finance activities including Investor Relations, Capital Market activities, Information Services, Procurement, Insurance, Sustainability, and Communications.
공시 • Dec 15Aecon Group Inc. Announces Upcoming Departure of David Smales, Executive Vice President Effective January 26, 2024Aecon Group Inc. announced the departure of Executive Vice President David Smales who has decided to pursue another leadership opportunity. Mr. Smales will resign from his role effective January 26, 2024 and is committed to working with Aecon's management team to ensure a smooth transition. Aecon is considering all alternatives for his replacement. Mr. Smales joined Aecon as Executive Vice President and Chief Financial Officer in November 2009 and has been a guiding force on Aecon's leadership team. David built a strong multi-disciplinary team with oversight spanning all corporate and operational finance activities including Investor Relations, Capital Market activities, Information Services, Procurement, Insurance, Sustainability, and Communications.
공시 • Dec 13Aecon Group Inc. Announces Quarterly Dividend, Payable on January 3, 2024Aecon Group Inc. announced on December 8, 2023 Aecon's Board of Directors approved its next quarterly dividend of 18.5 cents per share. The dividend will be paid on January 3, 2024 to shareholders of record as of December 22, 2023.
Recent Insider Transactions • Nov 01Non-Executive Chairman recently bought €67k worth of stockOn the 30th of October, John Beck bought around 10k shares on-market at roughly €6.68 per share. This trade did not impact their existing holding. This was the largest purchase by an insider in the last 3 months. This was John's only on-market trade for the last 12 months.
New Risk • Oct 30New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 41% 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 Risks Earnings are forecast to decline by an average of 41% per year for the foreseeable future. High level of non-cash earnings (27% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows.
Buying Opportunity • Oct 27Now 27% undervalued after recent price dropOver the last 90 days, the stock is down 11%. The fair value is estimated to be €8.48, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 2.4% in 2 years. Earnings is forecast to decline by 41% in the next 2 years.
Reported Earnings • Oct 26Third quarter 2023 earnings released: EPS: CA$2.16 (vs CA$0.57 in 3Q 2022)Third quarter 2023 results: EPS: CA$2.16 (up from CA$0.57 in 3Q 2022). Revenue: CA$1.24b (down 6.1% from 3Q 2022). Net income: CA$133.4m (up 287% from 3Q 2022). Profit margin: 11% (up from 2.6% in 3Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 1.2% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Construction industry in Germany. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has fallen by 5% per year.
New Risk • Oct 26New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 49% 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 Risks Earnings are forecast to decline by an average of 49% per year for the foreseeable future. High level of non-cash earnings (26% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (6.4% average weekly change).
공시 • Sep 21Connor, Clark & Lunn Infrastructure Ltd. completed the acquisition of 49.9% stake in Bermuda Airport from Aecon Group Inc. (TSX:ARE) for $120 million.Connor, Clark & Lunn Infrastructure Ltd. entered into an agreement to acquire 49.9% stake in Bermuda Airport from Aecon Group Inc. (TSX:ARE) for approximately $130 million on March 15, 2023. The transaction is subject to customary closing conditions and is expected to close in the second quarter of 2023. Solomon Partners acted as financial advisor and McCarthy Tétrault LLP acted as legal advisor to Aecon Group Inc.Connor, Clark & Lunn Infrastructure Ltd. completed the acquisition of 49.9% stake in Bermuda Airport from Aecon Group Inc. (TSX:ARE) for $120 million on September 20, 2023. The final sale price was $120 million following certain closing adjustments. Aecon Concessions will retain the management contract for the airport and remain the controlling shareholder of Skyport, owning a 50.1% interest.
공시 • Sep 19Aecon Group Inc. to Report Q3, 2023 Results on Oct 25, 2023Aecon Group Inc. announced that they will report Q3, 2023 results After-Market on Oct 25, 2023
Upcoming Dividend • Sep 14Upcoming dividend of CA$0.18 per share at 6.8% yieldEligible shareholders must have bought the stock before 21 September 2023. Payment date: 03 October 2023. Payout ratio is a comfortable 62% but the company is not cash flow positive. Trailing yield: 6.8%. Within top quartile of German dividend payers (4.9%). Higher than average of industry peers (4.0%).
Reported Earnings • Jul 28Second quarter 2023 earnings released: EPS: CA$0.46 (vs CA$0.10 loss in 2Q 2022)Second quarter 2023 results: EPS: CA$0.46 (up from CA$0.10 loss in 2Q 2022). Revenue: CA$1.17b (up 3.9% from 2Q 2022). Net income: CA$28.2m (up CA$34.6m from 2Q 2022). Profit margin: 2.4% (up from net loss in 2Q 2022). Revenue is forecast to stay flat during the next 3 years compared to a 3.0% growth forecast for the Construction industry in Germany. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings.
공시 • Jun 20Aecon Group Inc. to Report Q2, 2023 Results on Jul 26, 2023Aecon Group Inc. announced that they will report Q2, 2023 results After-Market on Jul 26, 2023
Upcoming Dividend • Jun 15Upcoming dividend of CA$0.18 per share at 5.6% yieldEligible shareholders must have bought the stock before 22 June 2023. Payment date: 05 July 2023. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 5.6%. Within top quartile of German dividend payers (4.6%). Higher than average of industry peers (3.7%).
공시 • Jun 07+ 1 more updateAecon Group Approves Quarterly Dividend Payable on July 5, 2023Aecon's Board of Directors approved its next quarterly dividend of 18.5 cents per share. The dividend will be paid on July 5, 2023 to shareholders of record as of June 23, 2023.
Reported Earnings • Apr 26First quarter 2023 earnings released: CA$0.15 loss per share (vs CA$0.29 loss in 1Q 2022)First quarter 2023 results: CA$0.15 loss per share (improved from CA$0.29 loss in 1Q 2022). Revenue: CA$1.11b (up 12% from 1Q 2022). Net loss: CA$9.44m (loss narrowed 46% from 1Q 2022). Revenue is forecast to grow 1.3% p.a. on average during the next 3 years, compared to a 2.3% growth forecast for the Construction industry in Europe. 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 2% per year, which means it has not declined as severely as earnings.
Recent Insider Transactions • Mar 22President recently sold €730k worth of stockOn the 20th of March, Jean-Louis Servranckx sold around 81k shares on-market at roughly €8.98 per share. This transaction amounted to 94% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Jean-Louis has been a net seller over the last 12 months, reducing personal holdings by €1.1m.
Upcoming Dividend • Mar 16Upcoming dividend of CA$0.18 per share at 5.6% yieldEligible shareholders must have bought the stock before 23 March 2023. Payment date: 04 April 2023. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 5.6%. Within top quartile of German dividend payers (4.8%). Higher than average of industry peers (3.9%).
Valuation Update With 7 Day Price Move • Mar 07Investor sentiment improves as stock rises 17%After last week's 17% share price gain to €8.30, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 11x in the Construction industry in Europe. Total loss to shareholders of 7.4% over the past three years.
Reported Earnings • Mar 01Full year 2022 earnings released: EPS: CA$0.50 (vs CA$0.82 in FY 2021)Full year 2022 results: EPS: CA$0.50 (down from CA$0.82 in FY 2021). Revenue: CA$4.70b (up 18% from FY 2021). Net income: CA$30.4m (down 39% from FY 2021). Profit margin: 0.6% (down from 1.2% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 1.1% p.a. on average during the next 3 years, compared to a 2.5% growth forecast for the Construction industry in Europe. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings.
공시 • Jan 04Aecon Group Inc. to Report Fiscal Year 2022 Results on Feb 28, 2023Aecon Group Inc. announced that they will report fiscal year 2022 results at 4:00 PM, US Eastern Standard Time on Feb 28, 2023
공시 • Jan 01Aecon Group Inc. Announces the Retirement of John W. Brace from the Board of DirectorsAecon Group Inc. announced that John W. Brace has retired from Aecon's Board of Directors. Mr. Brace was appointed to Aecon's Board of Directors in 2019 and served as Chair of the Risk Committee and as a contributing member of the Audit Committee.
Upcoming Dividend • Dec 15Upcoming dividend of CA$0.18 per shareEligible shareholders must have bought the stock before 22 December 2022. Payment date: 04 January 2023. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 7.9%. Within top quartile of German dividend payers (4.9%). Higher than average of industry peers (4.0%).
공시 • Dec 07Aecon Group Inc. Announces Quarterly Dividend, Payable on January 4, 2023Aecon Group Inc. announced its quarterly dividend of 18.5 cents per share will be paid on January 4, 2023 to shareholders of record as of December 23, 2022.
Board Change • Nov 16Insufficient new directorsThere is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 5 experienced directors. 4 highly experienced directors. Independent Director Scott Thon was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.
Reported Earnings • Oct 27Third quarter 2022 earnings released: EPS: CA$0.57 (vs CA$0.64 in 3Q 2021)Third quarter 2022 results: EPS: CA$0.57 (down from CA$0.64 in 3Q 2021). Revenue: CA$1.32b (up 14% from 3Q 2021). Net income: CA$34.5m (down 10% from 3Q 2021). Profit margin: 2.6% (down from 3.3% in 3Q 2021). Revenue is forecast to stay flat during the next 3 years compared to a 3.4% growth forecast for the Construction industry in Europe. Over the last 3 years on average, earnings per share has fallen by 22% per year whereas the company’s share price has fallen by 17% per year.
공시 • Sep 20Aecon Group Inc. to Report Q3, 2022 Results on Oct 26, 2022Aecon Group Inc. announced that they will report Q3, 2022 results at 4:00 PM, US Eastern Standard Time on Oct 26, 2022
Board Change • Aug 01Insufficient new directorsThere is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 5 experienced directors. 4 highly experienced directors. Independent Director Scott Thon was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.
Reported Earnings • Jul 30Second quarter 2022 earnings releasedSecond quarter 2022 results: Revenue: CA$1.12b (up 16% from 2Q 2021). Net loss: CA$6.35m (down 136% from profit in 2Q 2021). Over the next year, revenue is forecast to grow 3.1%, compared to a 9.2% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has fallen by 14% per year, which means it is performing significantly worse than earnings.
공시 • Jul 29Aecon Group Inc. Announces Quarterly Dividend, Payable on October 4, 2022Aecon's next quarterly dividend of 18.5 cents per share will be paid on October 4, 2022 to shareholders of record as of September 23, 2022.
Board Change • Jul 02Insufficient new directorsThere is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 5 experienced directors. 4 highly experienced directors. Independent Director Scott Thon was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.
공시 • Jun 14Aecon Group Inc. to Report Q2, 2022 Results on Jul 28, 2022Aecon Group Inc. announced that they will report Q2, 2022 results After-Market on Jul 28, 2022
Reported Earnings • Apr 28First quarter 2022 earnings released: CA$0.29 loss per share (vs CA$0.30 loss in 1Q 2021)First quarter 2022 results: CA$0.29 loss per share (up from CA$0.30 loss in 1Q 2021). Revenue: CA$985.9m (up 31% from 1Q 2021). Net loss: CA$17.4m (loss narrowed 5.3% from 1Q 2021). Over the next year, revenue is forecast to stay flat compared to a 6.0% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has remained flat.
Upcoming Dividend • Mar 17Upcoming dividend of CA$0.18 per shareEligible shareholders must have bought the stock before 24 March 2022. Payment date: 04 April 2022. Payout ratio is on the higher end at 85% but the company is not cash flow positive. Trailing yield: 4.7%. Within top quartile of German dividend payers (3.6%). Higher than average of industry peers (3.8%).
Reported Earnings • Mar 03Full year 2021 earnings: EPS in line with expectations, revenues disappointFull year 2021 results: EPS: CA$0.82 (down from CA$1.47 in FY 2020). Revenue: CA$3.98b (up 9.2% from FY 2020). Net income: CA$49.7m (down 44% from FY 2020). Profit margin: 1.2% (down from 2.4% in FY 2020). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 1.0%. Over the next year, revenue is forecast to grow 4.1%, compared to a 5.7% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has fallen by 2% per year.
공시 • Mar 03Aecon Group Inc. Approves Quarterly Dividend , Payable on April 4,2022Aecon Group Inc. announced that the Board of Directors approved an increase to the quarterly dividend to 18.5 cents per share from 17.5 cents per share previously. The first increased dividend will be paid on April 4, 2022 to shareholders of record on March 25, 2022.
공시 • Feb 06Aecon Group Inc., Annual General Meeting, Jun 02, 2022Aecon Group Inc., Annual General Meeting, Jun 02, 2022.
Recent Insider Transactions • Dec 05President recently bought €221k worth of stockOn the 1st of December, Jean-Louis Servranckx bought around 20k shares on-market at roughly €11.17 per share. This was the largest purchase by an insider in the last 3 months. This was Jean-Louis' only on-market trade for the last 12 months.
Reported Earnings • Oct 30Third quarter 2021 earnings released: EPS CA$0.64 (vs CA$1.23 in 3Q 2020)The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: CA$1.16b (up 12% from 3Q 2020). Net income: CA$38.4m (down 48% from 3Q 2020). Profit margin: 3.3% (down from 7.1% in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth.
Upcoming Dividend • Sep 16Upcoming dividend of CA$0.17 per shareEligible shareholders must have bought the stock before 23 September 2021. Payment date: 04 October 2021. Trailing yield: 3.2%. Within top quartile of German dividend payers (3.2%). In line with average of industry peers (3.1%).
공시 • Jul 24Aecon Group Inc. Provides Earnings Guidance for the Year 2021Aecon Group Inc. provided earnings guidance for the year 2021. The overall outlook for 2021 remains positive as construction continues on a number of projects that ramped up in 2019 and 2020, and due to the level of backlog and new awards during 2021 and the strong demand environment for Aecon's services going forward, including recurring revenue programs, all subject to the unknown impacts of COVID-19 going forward.
Reported Earnings • Jul 24Second quarter 2021 earnings released: EPS CA$0.29 (vs CA$0.10 loss in 2Q 2020)The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: CA$971.3m (up 25% from 2Q 2020). Net income: CA$17.6m (up CA$23.8m from 2Q 2020). Profit margin: 1.8% (up from net loss in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth.
Upcoming Dividend • Jun 17Upcoming dividend of CA$0.17 per shareEligible shareholders must have bought the stock before 24 June 2021. Payment date: 05 July 2021. Trailing yield: 3.9%. Within top quartile of German dividend payers (3.2%). Higher than average of industry peers (3.2%).
Executive Departure • Jun 10Independent Corporate Director Joseph Carrabba has left the companyOn the 8th of June, Joseph Carrabba's tenure as Independent Corporate Director ended after 7.9 years in the role. We don't have any record of a personal shareholding under Joseph's name. Joseph is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 4.50 years.
Reported Earnings • Apr 24First quarter 2021 earnings released: CA$0.31 loss per share (vs CA$0.19 loss in 1Q 2020)The company reported a poor first quarter result with increased losses and weaker control over costs, although revenues were flat. First quarter 2021 results: Revenue: CA$754.0m (flat on 1Q 2020). Net loss: CA$18.4m (loss widened 61% from 1Q 2020). Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth.
Upcoming Dividend • Mar 15Upcoming Dividend of CA$0.17 Per ShareWill be paid on the 5th of April to those who are registered shareholders by the 22nd of March. The trailing yield of 3.3% is below the top quartile of German dividend payers (3.3%), but is in line with industry peers (3.2%).
Is New 90 Day High Low • Mar 01New 90-day high: €12.40The company is up 19% from its price of €10.40 on 01 December 2020. The German market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Construction industry, which is down 8.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €31.94 per share.