View ValuationNorth American Construction Group 향후 성장Future 기준 점검 3/6North American Construction Group (는) 각각 연간 33.3% 및 9.4% 수익과 수익이 증가할 것으로 예상됩니다. EPS는 연간 33.7% 만큼 성장할 것으로 예상됩니다. 자기자본이익률은 3년 후 13.5% 로 예상됩니다.핵심 정보33.3%이익 성장률33.71%EPS 성장률Energy Services 이익 성장21.1%매출 성장률9.4%향후 자기자본이익률13.50%애널리스트 커버리지Low마지막 업데이트18 May 2026최근 향후 성장 업데이트공시 • May 15+ 1 more updateNorth American Construction Group Ltd. Maintains Earnings Guidance for the Year 2026North American Construction Group Ltd. maintained earnings guidance for the year 2026. For the year, the company maintained combined revenue of $1.5 billion to $1.7 billion.공시 • Mar 12+ 1 more updateNorth American Construction Group Ltd. Provides Earnings Guidance for the outlook the year 2026North American Construction Group Ltd. provided earnings guidance for the outlook the year 2026. For the period, the company expects Combined revenue to be in the range of $1.5 Billion to $1.7 Billion.공시 • Dec 05North American Construction Group Ltd. Provides Earnings Guidance of for the Fourth Quarter 2024 and Full Year 2025North American Construction Group Ltd. provided earnings guidance of for the fourth quarter 2024 and full year 2025, for the quarter the company expects combined revenue of $350 million to $375 million. for the year, the company expects combined revenue of $1.4 billion to $1.6 billion.공시 • Mar 14North American Construction Group Ltd. Provides Earnings Guidance for the Year 2024North American Construction Group Ltd. provided earnings guidance for the year 2024. For the period, the company expects combined revenue to be in the range of $1.5 billion - $1.7 billion.모든 업데이트 보기Recent updatesRecent Insider Transactions • May 20Independent Chairman of the Board recently bought US$149k worth of stockOn the 19th of May, Martin Ferron bought around 10k shares on-market at roughly US$14.86 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Martin has been a buyer over the last 12 months, purchasing a net total of US$298k worth in shares.Declared Dividend • May 17First quarter dividend of CA$0.12 announcedShareholders will receive a dividend of CA$0.12. Ex-date: 3rd June 2026 Payment date: 3rd July 2026 Dividend yield will be 2.5%, which is higher than the industry average of 2.3%. Sustainability & Growth Dividend is covered by earnings (41% earnings payout ratio) but not covered by cash flows (dividend approximately 7x free cash flows). The dividend has increased by an average of 20% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 130% over the next 3 years, which should provide support to the dividend and adequate earnings cover.공시 • May 15+ 1 more updateNorth American Construction Group Ltd. Maintains Earnings Guidance for the Year 2026North American Construction Group Ltd. maintained earnings guidance for the year 2026. For the year, the company maintained combined revenue of $1.5 billion to $1.7 billion.Reported Earnings • May 14First quarter 2026 earnings: EPS misses analyst expectationsFirst quarter 2026 results: EPS: CA$0.20 (down from CA$0.22 in 1Q 2025). Revenue: CA$319.2m (down 6.3% from 1Q 2025). Net income: CA$5.55m (down 9.9% from 1Q 2025). Profit margin: 1.7% (in line with 1Q 2025). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 46%. Revenue is forecast to grow 8.5% p.a. on average during the next 2 years, compared to a 5.8% growth forecast for the Energy Services industry in the US. Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings.공시 • Apr 28North American Construction Group Ltd. to Report Q1, 2026 Results on May 13, 2026North American Construction Group Ltd. announced that they will report Q1, 2026 results After-Market on May 13, 2026공시 • Apr 08North American Construction Group Ltd. (TSX:NOA) completed the acquisition of Iron Mine Contracting Pty Ltd for approximately CAD 120 million.North American Construction Group Ltd. (TSX:NOA) entered into a definitive share purchase agreement to acquire Iron Mine Contracting Pty Ltd for approximately CAD 120 million on December 18, 2025. The acquisition is expected to be significantly accretive, increasing NACG’s incremental earnings per share by approximately 20% in 2026. The Transaction will be fully funded by senior-secured bank financing (65% of the purchase price) and vendor-provided debt financing (35% of the purchase price). The estimated upfront payment of approximately CAD 40 million will be funded by North American Construction Group Ltd’s existing revolving credit facility. In addition, NACG plans to assume secured equipment financing of CAD 35 million. The remaining CAD 40 million of the consideration will be addressed through structured earn-out and deferred payment mechanisms payable to the vendors over the next four years. The Transaction is subject to satisfaction of certain regulatory and other customary closing conditions and is expected to close in the first quarter of 2026. National Bank of Canada Financial Markets acted as financial advisor for North American Construction Group Ltd. Fasken Martineau DuMoulin LLP acted as legal advisor for North American Construction Group Ltd. MinterEllison acted as legal advisor for North American Construction Group Ltd. North American Construction Group Ltd. (TSX:NOA) completed the acquisition of Iron Mine Contracting Pty Ltd for on April 7, 2026.Recent Insider Transactions • Mar 19Independent Lead Director recently bought US$52k worth of stockOn the 16th of March, Bryan Pinney bought around 4k shares on-market at roughly US$13.07 per share. This transaction amounted to 20% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought US$1.2m more in shares than they have sold in the last 12 months.Valuation Update With 7 Day Price Move • Mar 18Investor sentiment deteriorates as stock falls 19%After last week's 19% share price decline to US$13.51, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 19x in the Energy Services industry in the US. Total loss to shareholders of 11% over the past three years.Seeking Alpha • Mar 17Stronger Backlog, Higher Leverage: North American Construction's Strategy TestedSummary North American Construction (NOA) is expanding aggressively in Australia, leveraging the IMC acquisition to boost its mining contractor platform and backlog by ~30%. NOA’s backlog reached $3.9 billion, with management projecting 7% revenue and 12% adjusted EBITDA growth for FY2026, driven by IMC synergies. Following a 20% stock price drop and underpriced valuation multiples, I upgrade my rating to 'Hold' on improved backlog momentum but elevated financial risk. Read the full article on Seeking AlphaDeclared Dividend • Mar 15Fourth quarter dividend of CA$0.12 announcedShareholders will receive a dividend of CA$0.12. Ex-date: 26th March 2026 Payment date: 9th April 2026 Dividend yield will be 3.0%, which is higher than the industry average of 2.3%. Sustainability & Growth Dividend is covered by earnings (41% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 20% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 142% over the next 3 years, which should provide support to the dividend and adequate earnings cover.New Risk • Mar 12New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 86% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.9x net interest cover). Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.6% net profit margin).Reported Earnings • Mar 12Full year 2025 earnings: EPS misses analyst expectationsFull year 2025 results: EPS: CA$1.18 (down from CA$1.65 in FY 2024). Revenue: CA$1.28b (up 10% from FY 2024). Net income: CA$33.8m (down 23% from FY 2024). Profit margin: 2.6% (down from 3.8% in FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 32%. Revenue is forecast to grow 4.7% p.a. on average during the next 2 years, compared to a 4.0% growth forecast for the Energy Services industry in the US. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings.공시 • Mar 12+ 1 more updateNorth American Construction Group Ltd. Provides Earnings Guidance for the outlook the year 2026North American Construction Group Ltd. provided earnings guidance for the outlook the year 2026. For the period, the company expects Combined revenue to be in the range of $1.5 Billion to $1.7 Billion.공시 • Feb 19North American Construction Group Ltd. to Report Q4, 2025 Results on Mar 11, 2026North American Construction Group Ltd. announced that they will report Q4, 2025 results at 4:00 PM, US Eastern Standard Time on Mar 11, 2026공시 • Feb 17North American Construction Group Ltd., Annual General Meeting, May 20, 2026North American Construction Group Ltd., Annual General Meeting, May 20, 2026.공시 • Jan 22+ 1 more updateNorth American Construction Group Ltd. Announces CEO ChangesNorth American Construction Group Ltd. announced that Joe Lambert has resigned from his position as Chief Executive Officer of the Company to pursue other opportunities. Effective immediately, the Company's Chief Operating Officer, Barry Palmer, has assumed the role of Chief Executive Officer. The Company has begun the process of assessing both internal and external candidates to assume the role on a permanent basis.공시 • Dec 20North American Construction Group Ltd. (TSX:NOA) entered into a definitive share purchase agreement to acquire Iron Mine Contracting Pty Ltd for approximately CAD 120 million.North American Construction Group Ltd. (TSX:NOA) entered into a definitive share purchase agreement to acquire Iron Mine Contracting Pty Ltd for approximately CAD 120 million on December 18, 2025. The acquisition is expected to be significantly accretive, increasing NACG’s incremental earnings per share by approximately 20% in 2026. The Transaction will be fully funded by senior-secured bank financing (65% of the purchase price) and vendor-provided debt financing (35% of the purchase price). The estimated upfront payment of approximately CAD 40 million will be funded by North American Construction Group Ltd’s existing revolving credit facility. In addition, NACG plans to assume secured equipment financing of CAD 35 million. The remaining CAD 40 million of the consideration will be addressed through structured earn-out and deferred payment mechanisms payable to the vendors over the next four years. The Transaction is subject to satisfaction of certain regulatory and other customary closing conditions and is expected to close in the first quarter of 2026. National Bank of Canada Financial Markets acted as financial advisor for North American Construction Group Ltd. Fasken Martineau DuMoulin LLP acted as legal advisor for North American Construction Group Ltd. MinterEllison acted as legal advisor for North American Construction Group Ltd.Declared Dividend • Nov 16Third quarter dividend of CA$0.12 announcedShareholders will receive a dividend of CA$0.12. Ex-date: 26th November 2025 Payment date: 9th January 2026 Dividend yield will be 2.7%, which is higher than the industry average of 2.3%. Sustainability & Growth Dividend is covered by earnings (9% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 20% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 74% over the next 2 years, which should provide support to the dividend and adequate earnings cover.Reported Earnings • Nov 14Third quarter 2025 earnings: EPS and revenues miss analyst expectationsThird quarter 2025 results: EPS: CA$0.59 (up from CA$0.52 in 3Q 2024). Revenue: CA$317.2m (up 11% from 3Q 2024). Net income: CA$17.3m (up 24% from 3Q 2024). Profit margin: 5.5% (up from 4.8% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 2.4%. Earnings per share (EPS) also missed analyst estimates by 10%. Revenue is forecast to grow 6.0% p.a. on average during the next 3 years, compared to a 3.6% growth forecast for the Energy Services industry in the US. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings.공시 • Nov 13+ 1 more updateNorth American Construction Group Ltd. Declares Regular Quarterly Dividend, Payable on January 9, 2026On November 10, 2025, the North American Construction Group Ltd. Board of Directors declared a regular quarterly dividend (the “Dividend”) of twelve Canadian cents (CAD 0.12) per common share, payable to common shareholders of record at the close of business on November 26, 2025. The Dividend will be paid on January 9, 2026, and is an eligible dividend for Canadian income tax purposes.공시 • Oct 17North American Construction Group Ltd. to Report Q3, 2025 Results on Nov 12, 2025North American Construction Group Ltd. announced that they will report Q3, 2025 results After-Market on Nov 12, 2025Recent Insider Transactions • Aug 22Independent Chairman of the Board recently bought US$264k worth of stockOn the 20th of August, Martin Ferron bought around 21k shares on-market at roughly US$12.40 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Martin has been a buyer over the last 12 months, purchasing a net total of US$658k worth in shares.Valuation Update With 7 Day Price Move • Aug 20Investor sentiment deteriorates as stock falls 23%After last week's 23% share price decline to US$12.98, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 13x in the Energy Services industry in the US. Total returns to shareholders of 14% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$5.36 per share.Declared Dividend • Aug 17Second quarter dividend of CA$0.12 announcedShareholders will receive a dividend of CA$0.12. Ex-date: 29th August 2025 Payment date: 3rd October 2025 Dividend yield will be 3.1%, which is higher than the industry average of 2.3%. Sustainability & Growth Dividend is covered by earnings (37% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 20% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 126% over the next 3 years, which should provide support to the dividend and adequate earnings cover.Reported Earnings • Aug 14Second quarter 2025 earnings: EPS and revenues miss analyst expectationsSecond quarter 2025 results: EPS: CA$0.35 (down from CA$0.52 in 2Q 2024). Revenue: CA$320.6m (up 16% from 2Q 2024). Net income: CA$10.3m (down 27% from 2Q 2024). Profit margin: 3.2% (down from 5.1% in 2Q 2024). Revenue missed analyst estimates by 3.1%. Earnings per share (EPS) also missed analyst estimates by 52%. Revenue is forecast to grow 4.9% p.a. on average during the next 2 years, compared to a 3.2% growth forecast for the Energy Services industry in the US. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings.공시 • Aug 14+ 1 more updateNorth American Construction Group Ltd. Declares Quarterly Dividend, Payable on October 3, 2025On August 12th, 2025, North American Construction Group Ltd. Board of Directors declared a regular quarterly dividend (the “Dividend”) of twelve Canadian cents ($0.12) per common share, payable to common shareholders of record at the close of business on August 29, 2025. The Dividend will be paid on October 3, 2025, and is an eligible dividend for Canadian income tax purposes.공시 • Jul 18North American Construction Group Ltd. to Report Q2, 2025 Results on Aug 13, 2025North American Construction Group Ltd. announced that they will report Q2, 2025 results After-Market on Aug 13, 2025New Risk • Jul 05New minor risk - Insider sellingThere has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: US$181k This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.5x net interest cover). Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (3.2% net profit margin). Significant insider selling over the past 3 months (US$181k sold).Recent Insider Transactions • Jun 18Independent Chairman of the Board recently sold US$181k worth of stockOn the 10th of June, Martin Ferron sold around 10k shares on-market at roughly US$18.09 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Despite the recent sale, Martin has been a net buyer over the last 12 months, purchasing a net total of US$957k worth of shares.Declared Dividend • May 18First quarter dividend of CA$0.12 announcedShareholders will receive a dividend of CA$0.12. Ex-date: 4th June 2025 Payment date: 11th July 2025 Dividend yield will be 2.1%, which is lower than the industry average of 2.3%. Sustainability & Growth Dividend is covered by earnings (29% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 20% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 128% over the next 3 years, which should provide support to the dividend and adequate earnings cover.Reported Earnings • May 16First quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behindFirst quarter 2025 results: EPS: CA$0.22 (down from CA$0.42 in 1Q 2024). Revenue: CA$340.8m (up 15% from 1Q 2024). Net income: CA$6.16m (down 46% from 1Q 2024). Profit margin: 1.8% (down from 3.8% in 1Q 2024). Revenue exceeded analyst estimates by 15%. Earnings per share (EPS) missed analyst estimates by 71%. Revenue is forecast to grow 5.8% p.a. on average during the next 2 years, compared to a 2.9% growth forecast for the Energy Services industry in the US. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings.공시 • May 15+ 1 more updateNorth American Construction Group Ltd. Declares Regular Quarterly Dividend, Payable on July 11, 2025North American Construction Group Ltd. board declared a regular quarterly dividend of CAD 0.12 per common share, payable to common shareholders of record at the close of business on June 4, 2025. The Dividend will be paid on July 11, 2025.공시 • Apr 21North American Construction Group Ltd. to Report Q1, 2025 Results on May 14, 2025North American Construction Group Ltd. announced that they will report Q1, 2025 results at 4:00 PM, US Eastern Standard Time on May 14, 2025Valuation Update With 7 Day Price Move • Apr 08Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to US$13.44, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 11x in the Energy Services industry in the US. Total loss to shareholders of 2.5% over the past three years.Recent Insider Transactions • Mar 28Chairman of the Board recently bought US$65k worth of stockOn the 24th of March, Martin Ferron bought around 4k shares on-market at roughly US$16.30 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Martin has been a buyer over the last 12 months, purchasing a net total of US$192k worth in shares.New Risk • Mar 20New major risk - Financial positionThe company's interest payments are not well covered by earnings. Net interest cover: 2.6x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.6x net interest cover). Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (3.8% net profit margin). Significant insider selling over the past 3 months (US$668k sold).Reported Earnings • Mar 20Full year 2024 earnings: EPS misses analyst expectationsFull year 2024 results: EPS: CA$1.65 (down from CA$2.38 in FY 2023). Revenue: CA$1.17b (up 21% from FY 2023). Net income: CA$44.1m (down 30% from FY 2023). Profit margin: 3.8% (down from 6.5% in FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 28%. Revenue is forecast to grow 5.8% p.a. on average during the next 2 years, compared to a 4.1% growth forecast for the Energy Services industry in the US. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has increased by 3% per year.공시 • Mar 10North American Construction Group Ltd., Annual General Meeting, May 14, 2025North American Construction Group Ltd., Annual General Meeting, May 14, 2025.Declared Dividend • Feb 28Third quarter dividend of CA$0.12 announcedShareholders will receive a dividend of CA$0.12. Ex-date: 13th March 2025 Payment date: 9th April 2025 Dividend yield will be 2.0%, which is lower than the industry average of 2.3%. Sustainability & Growth Dividend is covered by earnings (19% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 20% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 47% over the next 2 years, which should provide support to the dividend and adequate earnings cover.공시 • Feb 26North American Construction Group Ltd. Announces Regular Quarterly Dividend, Payable on April 9, 2025On February 24, 2025, the North American Construction Group Ltd. Board of Directors declared a regular quarterly dividend of twelve Canadian cents ($0.12) per common share, payable to common shareholders of record at the close of business on March 13, 2025. The Dividend will be paid on April 9, 2025, and is an eligible dividend for Canadian income tax purposes.공시 • Feb 05North American Construction Group Ltd. to Report Q4, 2024 Results on Mar 05, 2025North American Construction Group Ltd. announced that they will report Q4, 2024 results After-Market on Mar 05, 2025Seeking Alpha • Jan 06North American Construction Will Start To Fire From All Cylinders (Upgrade)Summary North American Construction Group Ltd.'s diversified contracts in Australia and Canada, coupled with improved fleet utilization, are expected to drive significant revenue and EBITDA growth in 2025. Despite high debt, improved profit margins and cash flow recovery are anticipated, enabling NOA to reduce leverage and increase dividends. NOA stock is undervalued compared to peers, which supports a “Buy” rating, with expectations of higher returns in the medium term. Read the full article on Seeking AlphaNew Risk • Jan 05New minor risk - Insider sellingThere has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: US$424k This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Minor Risks High level of debt (173% net debt to equity). Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (4.8% net profit margin). Significant insider selling over the past 3 months (US$424k sold).공시 • Dec 05North American Construction Group Ltd. Provides Earnings Guidance of for the Fourth Quarter 2024 and Full Year 2025North American Construction Group Ltd. provided earnings guidance of for the fourth quarter 2024 and full year 2025, for the quarter the company expects combined revenue of $350 million to $375 million. for the year, the company expects combined revenue of $1.4 billion to $1.6 billion.Upcoming Dividend • Nov 20Upcoming dividend of CA$0.12 per shareEligible shareholders must have bought the stock before 27 November 2024. Payment date: 03 January 2025. Payout ratio is a comfortable 19% but the company is not cash flow positive. Trailing yield: 1.7%. Lower than top quartile of American dividend payers (4.3%). Lower than average of industry peers (2.3%).Recent Insider Transactions • Nov 14Chairman of the Board recently bought US$121k worth of stockOn the 12th of November, Martin Ferron bought around 6k shares on-market at roughly US$20.13 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Martin has been a buyer over the last 12 months, purchasing a net total of US$84k worth in shares.Valuation Update With 7 Day Price Move • Nov 06Investor sentiment improves as stock rises 24%After last week's 24% share price gain to US$20.86, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 11x in the Energy Services industry in the US. Total returns to shareholders of 34% over the past three years.Declared Dividend • Nov 03Third quarter dividend of CA$0.12 announcedShareholders will receive a dividend of CA$0.12. Ex-date: 27th November 2024 Payment date: 3rd January 2025 Dividend yield will be 1.7%, which is lower than the industry average of 2.3%. Sustainability & Growth Dividend is covered by earnings (5% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 17% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 75% over the next 2 years, which should provide support to the dividend and adequate earnings cover.Reported Earnings • Nov 01Third quarter 2024 earnings: EPS and revenues miss analyst expectationsThird quarter 2024 results: EPS: CA$0.52 (up from CA$0.43 in 3Q 2023). Revenue: CA$286.9m (up 47% from 3Q 2023). Net income: CA$13.9m (up 22% from 3Q 2023). Profit margin: 4.8% (down from 5.8% in 3Q 2023). Revenue missed analyst estimates by 2.5%. Earnings per share (EPS) also missed analyst estimates by 51%. Revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Energy Services industry in the US. Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 6% per year.공시 • Oct 31North American Construction Group Ltd. Declares Quarterly Dividend, Payable on January 3, 2025On October 29, 2024, North American Construction Group Ltd.'s Board of Directors declared a regular quarterly dividend of CAD 0.12 per common share, payable to common shareholders of record at the close of business on November 27, 2024. The Dividend will be paid on January 3, 2025, and is an eligible dividend for Canadian income tax purposes.공시 • Oct 22North American Construction Group Ltd. to Report Q3, 2024 Results on Oct 30, 2024North American Construction Group Ltd. announced that they will report Q3, 2024 results After-Market on Oct 30, 2024Recent Insider Transactions • Aug 15Chairman of the Board recently bought US$330k worth of stockOn the 9th of August, Martin Ferron bought around 19k shares on-market at roughly US$17.36 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Despite this recent buy, Martin has been a net seller over the last 12 months, reducing personal holdings by US$868k.Declared Dividend • Aug 04Second quarter dividend of CA$0.10 announcedShareholders will receive a dividend of CA$0.10. Ex-date: 30th August 2024 Payment date: 4th October 2024 Dividend yield will be 1.8%, which is lower than the industry average of 2.3%. Sustainability & Growth Dividend is covered by earnings (10% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 17% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 97% over the next 3 years, which should provide support to the dividend and adequate earnings cover.공시 • Aug 02+ 1 more updateNorth American Construction Group Ltd. Declares Quarterly Dividend, Payable on October 4, 2024On July 31, 2024, the North American Construction Group Ltd. Board of Directors declared a regular quarterly dividend of CAD 0.10 per common share, payable to common shareholders of record at the close of business on August 30, 2024. The Dividend will be paid on October 4, 2024, and is an eligible dividend for Canadian income tax purposes.New Risk • Aug 01New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 23% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.7x net interest cover). Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (5.0% net profit margin).Reported Earnings • Aug 01Second quarter 2024 earnings: EPS and revenues miss analyst expectationsSecond quarter 2024 results: EPS: CA$0.52 (up from CA$0.46 in 2Q 2023). Revenue: CA$276.3m (up 43% from 2Q 2023). Net income: CA$14.0m (up 14% from 2Q 2023). Profit margin: 5.1% (down from 6.3% in 2Q 2023). Revenue missed analyst estimates by 13%. Earnings per share (EPS) also missed analyst estimates by 47%. Revenue is forecast to grow 10.0% p.a. on average during the next 2 years, compared to a 7.4% growth forecast for the Energy Services industry in the US. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth.공시 • Jul 19North American Construction Group Ltd. to Report Q2, 2024 Results on Jul 31, 2024North American Construction Group Ltd. announced that they will report Q2, 2024 results After-Market on Jul 31, 2024Seeking Alpha • Jul 04North American Construction Group: Steady Project Flows Curtailed By Utilization ConcernsSummary NOA has opportunities in the Australian heavy equipment market and oil sands industry, with recent awards improving asset utilization. Despite undervaluation, NOA's balance sheet with high debt and deteriorated cash flows raises concerns for strong returns in the short term. Acquisition of MacKellar diversified NOA's portfolio, but challenges like adverse weather and asset mobilization affected recent performance. Read the full article on Seeking AlphaRecent Insider Transactions • Jun 25Chairman of the Board recently bought US$232k worth of stockOn the 24th of June, Martin Ferron bought around 12k shares on-market at roughly US$19.37 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Despite this recent buy, Martin has been a net seller over the last 12 months, reducing personal holdings by US$1.6m.Upcoming Dividend • May 24Upcoming dividend of CA$0.10 per shareEligible shareholders must have bought the stock before 31 May 2024. Payment date: 05 July 2024. Payout ratio is a comfortable 20% and this is well supported by cash flows. Trailing yield: 1.5%. Lower than top quartile of American dividend payers (4.7%). Lower than average of industry peers (2.3%).Recent Insider Transactions • May 17Chairman of the Board recently bought US$102k worth of stockOn the 16th of May, Martin Ferron bought around 5k shares on-market at roughly US$20.33 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Despite this recent buy, Martin has been a net seller over the last 12 months, reducing personal holdings by US$2.1m.New Risk • May 03New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 5.4% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.4x net interest cover). Minor Risks Profit margins are more than 30% lower than last year (5.2% net profit margin). Shareholders have been diluted in the past year (5.4% increase in shares outstanding). Significant insider selling over the past 3 months (US$551k sold).Reported Earnings • May 02First quarter 2024 earnings: EPS misses analyst expectationsFirst quarter 2024 results: EPS: CA$0.43 (down from CA$0.83 in 1Q 2023). Revenue: CA$297.0m (up 22% from 1Q 2023). Net income: CA$11.4m (down 48% from 1Q 2023). Profit margin: 3.8% (down from 9.0% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 46%. Revenue is forecast to grow 18% p.a. on average during the next 2 years, compared to a 7.7% growth forecast for the Energy Services industry in the US. Over the last 3 years on average, earnings per share has increased by 19% per year whereas the company’s share price has increased by 14% per year.공시 • May 02+ 1 more updateNorth American Construction Group Ltd. Declares Quarterly Dividend, Payable on July 5, 2024North American Construction Group Ltd. announced on April 30, 2024, the board of directors declared a regular quarterly dividend of CAD 0.10 per common share, payable to common shareholders of record at the close of business on May 31, 2024. The Dividend will be paid on July 5, 2024, and is an eligible dividend for Canadian income tax purposes.공시 • Apr 21North American Construction Group Ltd. to Report Q1, 2024 Results on May 01, 2024North American Construction Group Ltd. announced that they will report Q1, 2024 results After-Market on May 01, 2024Recent Insider Transactions • Apr 10Chairman of the Board recently sold US$457k worth of stockOn the 2nd of April, Martin Ferron sold around 20k shares on-market at roughly US$22.85 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Martin has been a net seller over the last 12 months, reducing personal holdings by US$2.6m.Recent Insider Transactions • Mar 27Chairman of the Board recently sold US$94k worth of stockOn the 19th of March, Martin Ferron sold around 4k shares on-market at roughly US$23.47 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Martin has been a net seller over the last 12 months, reducing personal holdings by US$2.2m.Reported Earnings • Mar 15Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2023 results: EPS: CA$2.38 (down from CA$2.46 in FY 2022). Revenue: CA$957.2m (up 24% from FY 2022). Net income: CA$63.1m (down 6.3% from FY 2022). Profit margin: 6.6% (down from 8.8% in FY 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.4%. Earnings per share (EPS) missed analyst estimates by 17%. Revenue is forecast to grow 18% p.a. on average during the next 2 years, compared to a 7.8% growth forecast for the Energy Services industry in the US. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has increased by 28% per year, which means it is tracking significantly ahead of earnings growth.공시 • Mar 14North American Construction Group Ltd. Provides Earnings Guidance for the Year 2024North American Construction Group Ltd. provided earnings guidance for the year 2024. For the period, the company expects combined revenue to be in the range of $1.5 billion - $1.7 billion.공시 • Mar 09North American Construction Group Ltd., Annual General Meeting, May 15, 2024North American Construction Group Ltd., Annual General Meeting, May 15, 2024.공시 • Mar 02North American Construction Group Ltd. Appoints Vanessa Guthrie AO to Its Board of DirectorsNorth American Construction Group Ltd. announced the appointment of Dr. Vanessa Guthrie AO to its Board of Directors, effective March 1, 2024. Dr. Guthrie has broad strategic experience in the natural resources sector in Australia, spanning more than 30 years. She hasheld a diverse array of senior leadership positions across operations, indigenous affairs, corporate development, andsustainability. These include being the Managing Director of Toro Energy Limited, an Australia Stock Exchange ("ASX") listedcompany involved in uranium mining, Vice President of Sustainable Development for Woodside Energy Group Ltd. and a minemanager for Alcoa Corporation. Dr. Guthrie also has extensive past and current experience serving on the boards of several prominent ASX-listed companies,including Santos Ltd, Orica Ltd. and Lynas Rare Earths Ltd. She is a former chair of Minerals Council of Australia and acurrent board member of Infrastructure Australia. Her contribution to the mining and resources industry was recognized in2017, via the award of an Honorary Doctor of Science degree from Curtin University, where she is now Chancellor Elect, for hercontribution to sustainability, innovation, and policy leadership in the resources industry. In 2021 she was also made an Officerof the Order of Australia for distinguished service to the minerals and resources sector, and as a role model for women inbusiness. Dr. Guthrie has a PhD in Geology, as well as qualifications in law, environment, and business management.Upcoming Dividend • Feb 29Upcoming dividend of CA$0.10 per shareEligible shareholders must have bought the stock before 07 March 2024. Payment date: 05 April 2024. Payout ratio is a comfortable 14% and this is well supported by cash flows. Trailing yield: 1.2%. Lower than top quartile of American dividend payers (4.8%). Lower than average of industry peers (2.3%).Declared Dividend • Feb 25Third quarter dividend of CA$0.10 announcedShareholders will receive a dividend of CA$0.10. Ex-date: 7th March 2024 Payment date: 5th April 2024 Dividend yield will be 1.3%, which is lower than the industry average of 2.3%. Sustainability & Growth Dividend is well covered by both earnings (14% earnings payout ratio) and cash flows (24% cash payout ratio). The dividend has increased by an average of 17% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 73% over the next 2 years, which should provide support to the dividend and adequate earnings cover.공시 • Feb 22North American Construction Group Ltd. Declares Regular Quarterly Dividend, Payable on April 5, 2024On February 20, 2024, the North American Construction Group Ltd. announced that the board of directors declared a regular quarterly dividend of CAD 0.10 per common share, payable to common shareholders of record at the close of business on March 8, 2024. The Dividend will be paid on April 5, 2024, and is an eligible dividend for Canadian income tax purposes.공시 • Feb 15North American Construction Group Ltd. to Report Q4, 2023 Results on Mar 13, 2024North American Construction Group Ltd. announced that they will report Q4, 2023 results After-Market on Mar 13, 2024Seeking Alpha • Jan 17North American Construction - MacKellar Acquisition Makes This Too Cheap To IgnoreSummary North American Construction Group is a global provider of earthmoving services to the mining and oil and gas sectors. The recent acquisition of the MacKellar Group in Australia diversifies NOA's commodity exposure and is expected to boost earnings by ~50% in 2024. NOA's shares are trading at a low valuation of 6.7x Fwd P/E, making them a compelling buy with significant upside potential. Read the full article on Seeking AlphaSeeking Alpha • Dec 29Bonhoeffer Capital - North American Construction Group: Awash With Competitive Advantages And Barriers To EntrySummary North American Construction Group is a construction services firm that provides heavy civil and bulk earthmoving services in supply-constrained markets. NAC has experienced significant growth in equipment utilization, return on invested capital (RoIC), and return on equity (RoE) over the past decade. The company has a strong competitive advantage in the industry, with a large equipment fleet, indigenous partnerships, and a contracted backlog of $3.0 billion. Read the full article on Seeking AlphaUpcoming Dividend • Nov 24Upcoming dividend of CA$0.10 per share at 1.5% yieldEligible shareholders must have bought the stock before 29 November 2023. Payment date: 05 January 2024. Payout ratio is a comfortable 14% and this is well supported by cash flows. Trailing yield: 1.5%. Lower than top quartile of American dividend payers (5.0%). Lower than average of industry peers (2.0%).Reported Earnings • Nov 02Third quarter 2023 earnings: EPS and revenues miss analyst expectationsThird quarter 2023 results: EPS: CA$0.43 (down from CA$0.75 in 3Q 2022). Revenue: CA$194.7m (up 1.8% from 3Q 2022). Net income: CA$11.4m (down 44% from 3Q 2022). Profit margin: 5.8% (down from 11% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 7.5%. Earnings per share (EPS) also missed analyst estimates by 26%. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has increased by 34% per year, which means it is tracking significantly ahead of earnings growth.공시 • Nov 02North American Construction Group Ltd. Declares Regular Quarterly Dividend, Payable on January 5, 2024On October 31, 2023, North American Construction Group Ltd. Board of Directors declared a regular quarterly dividend of CAD 0.10 per common share, payable to common shareholders of record at the close of business on November 30, 2023. The Dividend will be paid on January 5, 2024, and is an eligible dividend for Canadian income tax purposes.공시 • Oct 20North American Construction Group Ltd. to Report Q3, 2023 Results on Nov 01, 2023North American Construction Group Ltd. announced that they will report Q3, 2023 results After-Market on Nov 01, 2023Seeking Alpha • Sep 12North American Construction Group: Interesting Indirect Mining PlaySummary North American Construction Group Ltd. announced the acquisition of Australian Heavy Equipment Solution provider MacKellar Group. The acquisition brings diversification in terms of geographical region, activities, and end clients. The deal is seen as very accretive to earnings per share and improves pro forma EBITDA. Read the full article on Seeking AlphaRecent Insider Transactions • Sep 03Chairman of the Board recently sold US$367k worth of stockOn the 25th of August, Martin Ferron sold around 15k shares on-market at roughly US$24.44 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth US$501k. Martin has been a net seller over the last 12 months, reducing personal holdings by US$2.8m.Upcoming Dividend • Aug 24Upcoming dividend of CA$0.10 per share at 1.2% yieldEligible shareholders must have bought the stock before 30 August 2023. Payment date: 06 October 2023. Payout ratio is a comfortable 12% and this is well supported by cash flows. Trailing yield: 1.2%. Lower than top quartile of American dividend payers (4.9%). Lower than average of industry peers (1.9%).New Risk • Aug 17New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 9.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.9x net interest cover). Minor Risks Share price has been volatile over the past 3 months (9.7% average weekly change). Significant insider selling over the past 3 months (US$501k sold).Recent Insider Transactions • Aug 11Chairman of the Board recently sold US$501k worth of stockOn the 2nd of August, Martin Ferron sold around 20k shares on-market at roughly US$25.06 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Martin has been a net seller over the last 12 months, reducing personal holdings by US$2.5m.New Risk • Jul 29New major risk - Financial positionThe company's interest payments are not well covered by earnings. Net interest cover: 2.9x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.9x net interest cover). Minor Risk Significant insider selling over the past 3 months (US$879k sold).Reported Earnings • Jul 28Second quarter 2023 earnings: EPS and revenues exceed analyst expectationsSecond quarter 2023 results: EPS: CA$0.46 (up from CA$0.27 in 2Q 2022). Revenue: CA$193.6m (up 15% from 2Q 2022). Net income: CA$12.3m (up 63% from 2Q 2022). Profit margin: 6.3% (up from 4.5% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 6.1%. Earnings per share (EPS) also surpassed analyst estimates by 12%. Revenue is forecast to grow 25% p.a. on average during the next 2 years, compared to a 8.9% growth forecast for the Energy Services industry in the US. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has increased by 57% per year, which means it is tracking significantly ahead of earnings growth.공시 • Jul 28+ 1 more updateNorth American Construction Group Ltd. (TSX:NOA) entered into a definitive purchase and sale agreement to acquire Mackellar Mining Pty Ltd for CAD 395 million.North American Construction Group Ltd. (TSX:NOA) entered into a definitive purchase and sale agreement to acquire Mackellar Mining Pty Ltd for CAD 395 million on July 26, 2023. Under the terms of agreement, consideration consists of an upfront payment of CAD 67 million (AUD 75 million) which will be funded by the upsized revolving Credit Facility. In addition, liquidity from the Credit Facility and assumed equipment financing of MacKellar is estimated to provide CAD 200 million of the total consideration. The remaining amount will be paid as an earnout payment to be paid over 4 years. North American Construction Group currently has in place a CAD 300 million revolving credit facility with a syndicate of financial institutions. The transaction is subject to obtaining contractual consents and the satisfaction of other customary closing conditions. The transaction is expected to close in the fourth quarter of 2023. The transaction is represented less than 2.75x of expected EBITDA in 2024 and is expected to be over 50% accretive based on incremental earnings per share. National Bank Financial, Inc. acted as financial advisor to North American Construction Group. Fasken Martineau DuMoulin LLP and Corrs Chambers Westgarth acted as legal advisor to North American Construction Group.New Risk • Jul 14New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 0.6% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.6% per year for the foreseeable future. Minor Risks High level of debt (107% net debt to equity). Significant insider selling over the past 3 months (US$879k sold).이익 및 매출 성장 예측NYSE:NOA - 애널리스트 향후 추정치 및 과거 재무 데이터 (CAD Millions)날짜매출이익자유현금흐름영업현금흐름평균 애널리스트 수12/31/20271,4967469318512/31/20261,401574227853/31/20261,263332242N/A12/31/20251,28434-21264N/A9/30/20251,28437-8285N/A6/30/20251,25434-47248N/A3/31/20251,21039-51250N/A12/31/20241,16644-67241N/A9/30/20241,18858-8309N/A6/30/20241,099555291N/A3/31/20241,0175321265N/A12/31/20239656375278N/A9/30/20238707245188N/A6/30/20238648046182N/A3/31/20238377652177N/A12/31/20227706754169N/A9/30/20227175744157N/A6/30/20226925048158N/A3/31/20226634636147N/A12/31/20216545151165N/A9/30/20216094647162N/A6/30/20215363922131N/A3/31/20214675034140N/A12/31/20204984929147N/A9/30/20205524738167N/A6/30/20206254820160N/A3/31/2020731492159N/A12/31/201971937N/A158N/A9/30/201966131N/A112N/A6/30/201957925N/A125N/A3/31/201948211N/A118N/A12/31/201841015N/A109N/A9/30/201836115N/A78N/A6/30/201834613N/A70N/A3/31/20183147N/A64N/A12/31/20172935N/A50N/A9/30/20172732N/A48N/A6/30/20172511N/A57N/A3/31/20172283N/A45N/A12/31/20162130N/A40N/A9/30/2016216-1N/A48N/A6/30/2016235-1N/A55N/A3/31/2016275-1N/A77N/A12/31/2015281-7N/A77N/A9/30/2015329-8N/A76N/A6/30/2015397-1N/A60N/A더 보기애널리스트 향후 성장 전망수입 대 저축률: NOA 의 연간 예상 수익 증가율(33.3%)이 saving rate(3.5%)보다 높습니다.수익 vs 시장: NOA 의 연간 수익(33.3%)이 US 시장(17%)보다 빠르게 성장할 것으로 예상됩니다.고성장 수익: NOA 의 수입은 향후 3년 동안 상당히 증가할 것으로 예상됩니다.수익 대 시장: NOA 의 수익(연간 9.4%)이 US 시장(연간 11.9%)보다 느리게 성장할 것으로 예상됩니다.고성장 매출: NOA 의 수익(연간 9.4%)은 연간 20%보다 느리게 증가할 것으로 예상됩니다.주당순이익 성장 예측향후 자기자본이익률미래 ROE: NOA의 자본 수익률은 3년 후 13.5%로 낮을 것으로 예상됩니다.성장 기업 찾아보기7D1Y7D1Y7D1YEnergy 산업의 고성장 기업.View Past Performance기업 분석 및 재무 데이터 상태데이터최종 업데이트 (UTC 시간)기업 분석2026/05/31 01:13종가2026/05/29 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 소스North American Construction Group Ltd.는 12명의 분석가가 다루고 있습니다. 이 중 5명의 분석가가 우리 보고서에 입력 데이터로 사용되는 매출 또는 수익 추정치를 제출했습니다. 분석가의 제출 자료는 하루 종일 업데이트됩니다.분석가기관Tim MonachelloATB CormarkJohn GibsonBMO Capital Markets Equity ResearchYuri LynkCanaccord Genuity9명의 분석가 더 보기
공시 • May 15+ 1 more updateNorth American Construction Group Ltd. Maintains Earnings Guidance for the Year 2026North American Construction Group Ltd. maintained earnings guidance for the year 2026. For the year, the company maintained combined revenue of $1.5 billion to $1.7 billion.
공시 • Mar 12+ 1 more updateNorth American Construction Group Ltd. Provides Earnings Guidance for the outlook the year 2026North American Construction Group Ltd. provided earnings guidance for the outlook the year 2026. For the period, the company expects Combined revenue to be in the range of $1.5 Billion to $1.7 Billion.
공시 • Dec 05North American Construction Group Ltd. Provides Earnings Guidance of for the Fourth Quarter 2024 and Full Year 2025North American Construction Group Ltd. provided earnings guidance of for the fourth quarter 2024 and full year 2025, for the quarter the company expects combined revenue of $350 million to $375 million. for the year, the company expects combined revenue of $1.4 billion to $1.6 billion.
공시 • Mar 14North American Construction Group Ltd. Provides Earnings Guidance for the Year 2024North American Construction Group Ltd. provided earnings guidance for the year 2024. For the period, the company expects combined revenue to be in the range of $1.5 billion - $1.7 billion.
Recent Insider Transactions • May 20Independent Chairman of the Board recently bought US$149k worth of stockOn the 19th of May, Martin Ferron bought around 10k shares on-market at roughly US$14.86 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Martin has been a buyer over the last 12 months, purchasing a net total of US$298k worth in shares.
Declared Dividend • May 17First quarter dividend of CA$0.12 announcedShareholders will receive a dividend of CA$0.12. Ex-date: 3rd June 2026 Payment date: 3rd July 2026 Dividend yield will be 2.5%, which is higher than the industry average of 2.3%. Sustainability & Growth Dividend is covered by earnings (41% earnings payout ratio) but not covered by cash flows (dividend approximately 7x free cash flows). The dividend has increased by an average of 20% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 130% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
공시 • May 15+ 1 more updateNorth American Construction Group Ltd. Maintains Earnings Guidance for the Year 2026North American Construction Group Ltd. maintained earnings guidance for the year 2026. For the year, the company maintained combined revenue of $1.5 billion to $1.7 billion.
Reported Earnings • May 14First quarter 2026 earnings: EPS misses analyst expectationsFirst quarter 2026 results: EPS: CA$0.20 (down from CA$0.22 in 1Q 2025). Revenue: CA$319.2m (down 6.3% from 1Q 2025). Net income: CA$5.55m (down 9.9% from 1Q 2025). Profit margin: 1.7% (in line with 1Q 2025). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 46%. Revenue is forecast to grow 8.5% p.a. on average during the next 2 years, compared to a 5.8% growth forecast for the Energy Services industry in the US. Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings.
공시 • Apr 28North American Construction Group Ltd. to Report Q1, 2026 Results on May 13, 2026North American Construction Group Ltd. announced that they will report Q1, 2026 results After-Market on May 13, 2026
공시 • Apr 08North American Construction Group Ltd. (TSX:NOA) completed the acquisition of Iron Mine Contracting Pty Ltd for approximately CAD 120 million.North American Construction Group Ltd. (TSX:NOA) entered into a definitive share purchase agreement to acquire Iron Mine Contracting Pty Ltd for approximately CAD 120 million on December 18, 2025. The acquisition is expected to be significantly accretive, increasing NACG’s incremental earnings per share by approximately 20% in 2026. The Transaction will be fully funded by senior-secured bank financing (65% of the purchase price) and vendor-provided debt financing (35% of the purchase price). The estimated upfront payment of approximately CAD 40 million will be funded by North American Construction Group Ltd’s existing revolving credit facility. In addition, NACG plans to assume secured equipment financing of CAD 35 million. The remaining CAD 40 million of the consideration will be addressed through structured earn-out and deferred payment mechanisms payable to the vendors over the next four years. The Transaction is subject to satisfaction of certain regulatory and other customary closing conditions and is expected to close in the first quarter of 2026. National Bank of Canada Financial Markets acted as financial advisor for North American Construction Group Ltd. Fasken Martineau DuMoulin LLP acted as legal advisor for North American Construction Group Ltd. MinterEllison acted as legal advisor for North American Construction Group Ltd. North American Construction Group Ltd. (TSX:NOA) completed the acquisition of Iron Mine Contracting Pty Ltd for on April 7, 2026.
Recent Insider Transactions • Mar 19Independent Lead Director recently bought US$52k worth of stockOn the 16th of March, Bryan Pinney bought around 4k shares on-market at roughly US$13.07 per share. This transaction amounted to 20% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought US$1.2m more in shares than they have sold in the last 12 months.
Valuation Update With 7 Day Price Move • Mar 18Investor sentiment deteriorates as stock falls 19%After last week's 19% share price decline to US$13.51, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 19x in the Energy Services industry in the US. Total loss to shareholders of 11% over the past three years.
Seeking Alpha • Mar 17Stronger Backlog, Higher Leverage: North American Construction's Strategy TestedSummary North American Construction (NOA) is expanding aggressively in Australia, leveraging the IMC acquisition to boost its mining contractor platform and backlog by ~30%. NOA’s backlog reached $3.9 billion, with management projecting 7% revenue and 12% adjusted EBITDA growth for FY2026, driven by IMC synergies. Following a 20% stock price drop and underpriced valuation multiples, I upgrade my rating to 'Hold' on improved backlog momentum but elevated financial risk. Read the full article on Seeking Alpha
Declared Dividend • Mar 15Fourth quarter dividend of CA$0.12 announcedShareholders will receive a dividend of CA$0.12. Ex-date: 26th March 2026 Payment date: 9th April 2026 Dividend yield will be 3.0%, which is higher than the industry average of 2.3%. Sustainability & Growth Dividend is covered by earnings (41% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 20% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 142% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
New Risk • Mar 12New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 86% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.9x net interest cover). Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.6% net profit margin).
Reported Earnings • Mar 12Full year 2025 earnings: EPS misses analyst expectationsFull year 2025 results: EPS: CA$1.18 (down from CA$1.65 in FY 2024). Revenue: CA$1.28b (up 10% from FY 2024). Net income: CA$33.8m (down 23% from FY 2024). Profit margin: 2.6% (down from 3.8% in FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 32%. Revenue is forecast to grow 4.7% p.a. on average during the next 2 years, compared to a 4.0% growth forecast for the Energy Services industry in the US. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings.
공시 • Mar 12+ 1 more updateNorth American Construction Group Ltd. Provides Earnings Guidance for the outlook the year 2026North American Construction Group Ltd. provided earnings guidance for the outlook the year 2026. For the period, the company expects Combined revenue to be in the range of $1.5 Billion to $1.7 Billion.
공시 • Feb 19North American Construction Group Ltd. to Report Q4, 2025 Results on Mar 11, 2026North American Construction Group Ltd. announced that they will report Q4, 2025 results at 4:00 PM, US Eastern Standard Time on Mar 11, 2026
공시 • Feb 17North American Construction Group Ltd., Annual General Meeting, May 20, 2026North American Construction Group Ltd., Annual General Meeting, May 20, 2026.
공시 • Jan 22+ 1 more updateNorth American Construction Group Ltd. Announces CEO ChangesNorth American Construction Group Ltd. announced that Joe Lambert has resigned from his position as Chief Executive Officer of the Company to pursue other opportunities. Effective immediately, the Company's Chief Operating Officer, Barry Palmer, has assumed the role of Chief Executive Officer. The Company has begun the process of assessing both internal and external candidates to assume the role on a permanent basis.
공시 • Dec 20North American Construction Group Ltd. (TSX:NOA) entered into a definitive share purchase agreement to acquire Iron Mine Contracting Pty Ltd for approximately CAD 120 million.North American Construction Group Ltd. (TSX:NOA) entered into a definitive share purchase agreement to acquire Iron Mine Contracting Pty Ltd for approximately CAD 120 million on December 18, 2025. The acquisition is expected to be significantly accretive, increasing NACG’s incremental earnings per share by approximately 20% in 2026. The Transaction will be fully funded by senior-secured bank financing (65% of the purchase price) and vendor-provided debt financing (35% of the purchase price). The estimated upfront payment of approximately CAD 40 million will be funded by North American Construction Group Ltd’s existing revolving credit facility. In addition, NACG plans to assume secured equipment financing of CAD 35 million. The remaining CAD 40 million of the consideration will be addressed through structured earn-out and deferred payment mechanisms payable to the vendors over the next four years. The Transaction is subject to satisfaction of certain regulatory and other customary closing conditions and is expected to close in the first quarter of 2026. National Bank of Canada Financial Markets acted as financial advisor for North American Construction Group Ltd. Fasken Martineau DuMoulin LLP acted as legal advisor for North American Construction Group Ltd. MinterEllison acted as legal advisor for North American Construction Group Ltd.
Declared Dividend • Nov 16Third quarter dividend of CA$0.12 announcedShareholders will receive a dividend of CA$0.12. Ex-date: 26th November 2025 Payment date: 9th January 2026 Dividend yield will be 2.7%, which is higher than the industry average of 2.3%. Sustainability & Growth Dividend is covered by earnings (9% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 20% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 74% over the next 2 years, which should provide support to the dividend and adequate earnings cover.
Reported Earnings • Nov 14Third quarter 2025 earnings: EPS and revenues miss analyst expectationsThird quarter 2025 results: EPS: CA$0.59 (up from CA$0.52 in 3Q 2024). Revenue: CA$317.2m (up 11% from 3Q 2024). Net income: CA$17.3m (up 24% from 3Q 2024). Profit margin: 5.5% (up from 4.8% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 2.4%. Earnings per share (EPS) also missed analyst estimates by 10%. Revenue is forecast to grow 6.0% p.a. on average during the next 3 years, compared to a 3.6% growth forecast for the Energy Services industry in the US. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings.
공시 • Nov 13+ 1 more updateNorth American Construction Group Ltd. Declares Regular Quarterly Dividend, Payable on January 9, 2026On November 10, 2025, the North American Construction Group Ltd. Board of Directors declared a regular quarterly dividend (the “Dividend”) of twelve Canadian cents (CAD 0.12) per common share, payable to common shareholders of record at the close of business on November 26, 2025. The Dividend will be paid on January 9, 2026, and is an eligible dividend for Canadian income tax purposes.
공시 • Oct 17North American Construction Group Ltd. to Report Q3, 2025 Results on Nov 12, 2025North American Construction Group Ltd. announced that they will report Q3, 2025 results After-Market on Nov 12, 2025
Recent Insider Transactions • Aug 22Independent Chairman of the Board recently bought US$264k worth of stockOn the 20th of August, Martin Ferron bought around 21k shares on-market at roughly US$12.40 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Martin has been a buyer over the last 12 months, purchasing a net total of US$658k worth in shares.
Valuation Update With 7 Day Price Move • Aug 20Investor sentiment deteriorates as stock falls 23%After last week's 23% share price decline to US$12.98, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 13x in the Energy Services industry in the US. Total returns to shareholders of 14% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$5.36 per share.
Declared Dividend • Aug 17Second quarter dividend of CA$0.12 announcedShareholders will receive a dividend of CA$0.12. Ex-date: 29th August 2025 Payment date: 3rd October 2025 Dividend yield will be 3.1%, which is higher than the industry average of 2.3%. Sustainability & Growth Dividend is covered by earnings (37% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 20% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 126% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
Reported Earnings • Aug 14Second quarter 2025 earnings: EPS and revenues miss analyst expectationsSecond quarter 2025 results: EPS: CA$0.35 (down from CA$0.52 in 2Q 2024). Revenue: CA$320.6m (up 16% from 2Q 2024). Net income: CA$10.3m (down 27% from 2Q 2024). Profit margin: 3.2% (down from 5.1% in 2Q 2024). Revenue missed analyst estimates by 3.1%. Earnings per share (EPS) also missed analyst estimates by 52%. Revenue is forecast to grow 4.9% p.a. on average during the next 2 years, compared to a 3.2% growth forecast for the Energy Services industry in the US. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings.
공시 • Aug 14+ 1 more updateNorth American Construction Group Ltd. Declares Quarterly Dividend, Payable on October 3, 2025On August 12th, 2025, North American Construction Group Ltd. Board of Directors declared a regular quarterly dividend (the “Dividend”) of twelve Canadian cents ($0.12) per common share, payable to common shareholders of record at the close of business on August 29, 2025. The Dividend will be paid on October 3, 2025, and is an eligible dividend for Canadian income tax purposes.
공시 • Jul 18North American Construction Group Ltd. to Report Q2, 2025 Results on Aug 13, 2025North American Construction Group Ltd. announced that they will report Q2, 2025 results After-Market on Aug 13, 2025
New Risk • Jul 05New minor risk - Insider sellingThere has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: US$181k This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.5x net interest cover). Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (3.2% net profit margin). Significant insider selling over the past 3 months (US$181k sold).
Recent Insider Transactions • Jun 18Independent Chairman of the Board recently sold US$181k worth of stockOn the 10th of June, Martin Ferron sold around 10k shares on-market at roughly US$18.09 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Despite the recent sale, Martin has been a net buyer over the last 12 months, purchasing a net total of US$957k worth of shares.
Declared Dividend • May 18First quarter dividend of CA$0.12 announcedShareholders will receive a dividend of CA$0.12. Ex-date: 4th June 2025 Payment date: 11th July 2025 Dividend yield will be 2.1%, which is lower than the industry average of 2.3%. Sustainability & Growth Dividend is covered by earnings (29% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 20% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 128% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
Reported Earnings • May 16First quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behindFirst quarter 2025 results: EPS: CA$0.22 (down from CA$0.42 in 1Q 2024). Revenue: CA$340.8m (up 15% from 1Q 2024). Net income: CA$6.16m (down 46% from 1Q 2024). Profit margin: 1.8% (down from 3.8% in 1Q 2024). Revenue exceeded analyst estimates by 15%. Earnings per share (EPS) missed analyst estimates by 71%. Revenue is forecast to grow 5.8% p.a. on average during the next 2 years, compared to a 2.9% growth forecast for the Energy Services industry in the US. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings.
공시 • May 15+ 1 more updateNorth American Construction Group Ltd. Declares Regular Quarterly Dividend, Payable on July 11, 2025North American Construction Group Ltd. board declared a regular quarterly dividend of CAD 0.12 per common share, payable to common shareholders of record at the close of business on June 4, 2025. The Dividend will be paid on July 11, 2025.
공시 • Apr 21North American Construction Group Ltd. to Report Q1, 2025 Results on May 14, 2025North American Construction Group Ltd. announced that they will report Q1, 2025 results at 4:00 PM, US Eastern Standard Time on May 14, 2025
Valuation Update With 7 Day Price Move • Apr 08Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to US$13.44, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 11x in the Energy Services industry in the US. Total loss to shareholders of 2.5% over the past three years.
Recent Insider Transactions • Mar 28Chairman of the Board recently bought US$65k worth of stockOn the 24th of March, Martin Ferron bought around 4k shares on-market at roughly US$16.30 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Martin has been a buyer over the last 12 months, purchasing a net total of US$192k worth in shares.
New Risk • Mar 20New major risk - Financial positionThe company's interest payments are not well covered by earnings. Net interest cover: 2.6x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.6x net interest cover). Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (3.8% net profit margin). Significant insider selling over the past 3 months (US$668k sold).
Reported Earnings • Mar 20Full year 2024 earnings: EPS misses analyst expectationsFull year 2024 results: EPS: CA$1.65 (down from CA$2.38 in FY 2023). Revenue: CA$1.17b (up 21% from FY 2023). Net income: CA$44.1m (down 30% from FY 2023). Profit margin: 3.8% (down from 6.5% in FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 28%. Revenue is forecast to grow 5.8% p.a. on average during the next 2 years, compared to a 4.1% growth forecast for the Energy Services industry in the US. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has increased by 3% per year.
공시 • Mar 10North American Construction Group Ltd., Annual General Meeting, May 14, 2025North American Construction Group Ltd., Annual General Meeting, May 14, 2025.
Declared Dividend • Feb 28Third quarter dividend of CA$0.12 announcedShareholders will receive a dividend of CA$0.12. Ex-date: 13th March 2025 Payment date: 9th April 2025 Dividend yield will be 2.0%, which is lower than the industry average of 2.3%. Sustainability & Growth Dividend is covered by earnings (19% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 20% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 47% over the next 2 years, which should provide support to the dividend and adequate earnings cover.
공시 • Feb 26North American Construction Group Ltd. Announces Regular Quarterly Dividend, Payable on April 9, 2025On February 24, 2025, the North American Construction Group Ltd. Board of Directors declared a regular quarterly dividend of twelve Canadian cents ($0.12) per common share, payable to common shareholders of record at the close of business on March 13, 2025. The Dividend will be paid on April 9, 2025, and is an eligible dividend for Canadian income tax purposes.
공시 • Feb 05North American Construction Group Ltd. to Report Q4, 2024 Results on Mar 05, 2025North American Construction Group Ltd. announced that they will report Q4, 2024 results After-Market on Mar 05, 2025
Seeking Alpha • Jan 06North American Construction Will Start To Fire From All Cylinders (Upgrade)Summary North American Construction Group Ltd.'s diversified contracts in Australia and Canada, coupled with improved fleet utilization, are expected to drive significant revenue and EBITDA growth in 2025. Despite high debt, improved profit margins and cash flow recovery are anticipated, enabling NOA to reduce leverage and increase dividends. NOA stock is undervalued compared to peers, which supports a “Buy” rating, with expectations of higher returns in the medium term. Read the full article on Seeking Alpha
New Risk • Jan 05New minor risk - Insider sellingThere has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: US$424k This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Minor Risks High level of debt (173% net debt to equity). Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (4.8% net profit margin). Significant insider selling over the past 3 months (US$424k sold).
공시 • Dec 05North American Construction Group Ltd. Provides Earnings Guidance of for the Fourth Quarter 2024 and Full Year 2025North American Construction Group Ltd. provided earnings guidance of for the fourth quarter 2024 and full year 2025, for the quarter the company expects combined revenue of $350 million to $375 million. for the year, the company expects combined revenue of $1.4 billion to $1.6 billion.
Upcoming Dividend • Nov 20Upcoming dividend of CA$0.12 per shareEligible shareholders must have bought the stock before 27 November 2024. Payment date: 03 January 2025. Payout ratio is a comfortable 19% but the company is not cash flow positive. Trailing yield: 1.7%. Lower than top quartile of American dividend payers (4.3%). Lower than average of industry peers (2.3%).
Recent Insider Transactions • Nov 14Chairman of the Board recently bought US$121k worth of stockOn the 12th of November, Martin Ferron bought around 6k shares on-market at roughly US$20.13 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Martin has been a buyer over the last 12 months, purchasing a net total of US$84k worth in shares.
Valuation Update With 7 Day Price Move • Nov 06Investor sentiment improves as stock rises 24%After last week's 24% share price gain to US$20.86, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 11x in the Energy Services industry in the US. Total returns to shareholders of 34% over the past three years.
Declared Dividend • Nov 03Third quarter dividend of CA$0.12 announcedShareholders will receive a dividend of CA$0.12. Ex-date: 27th November 2024 Payment date: 3rd January 2025 Dividend yield will be 1.7%, which is lower than the industry average of 2.3%. Sustainability & Growth Dividend is covered by earnings (5% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 17% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 75% over the next 2 years, which should provide support to the dividend and adequate earnings cover.
Reported Earnings • Nov 01Third quarter 2024 earnings: EPS and revenues miss analyst expectationsThird quarter 2024 results: EPS: CA$0.52 (up from CA$0.43 in 3Q 2023). Revenue: CA$286.9m (up 47% from 3Q 2023). Net income: CA$13.9m (up 22% from 3Q 2023). Profit margin: 4.8% (down from 5.8% in 3Q 2023). Revenue missed analyst estimates by 2.5%. Earnings per share (EPS) also missed analyst estimates by 51%. Revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Energy Services industry in the US. Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 6% per year.
공시 • Oct 31North American Construction Group Ltd. Declares Quarterly Dividend, Payable on January 3, 2025On October 29, 2024, North American Construction Group Ltd.'s Board of Directors declared a regular quarterly dividend of CAD 0.12 per common share, payable to common shareholders of record at the close of business on November 27, 2024. The Dividend will be paid on January 3, 2025, and is an eligible dividend for Canadian income tax purposes.
공시 • Oct 22North American Construction Group Ltd. to Report Q3, 2024 Results on Oct 30, 2024North American Construction Group Ltd. announced that they will report Q3, 2024 results After-Market on Oct 30, 2024
Recent Insider Transactions • Aug 15Chairman of the Board recently bought US$330k worth of stockOn the 9th of August, Martin Ferron bought around 19k shares on-market at roughly US$17.36 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Despite this recent buy, Martin has been a net seller over the last 12 months, reducing personal holdings by US$868k.
Declared Dividend • Aug 04Second quarter dividend of CA$0.10 announcedShareholders will receive a dividend of CA$0.10. Ex-date: 30th August 2024 Payment date: 4th October 2024 Dividend yield will be 1.8%, which is lower than the industry average of 2.3%. Sustainability & Growth Dividend is covered by earnings (10% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 17% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 97% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
공시 • Aug 02+ 1 more updateNorth American Construction Group Ltd. Declares Quarterly Dividend, Payable on October 4, 2024On July 31, 2024, the North American Construction Group Ltd. Board of Directors declared a regular quarterly dividend of CAD 0.10 per common share, payable to common shareholders of record at the close of business on August 30, 2024. The Dividend will be paid on October 4, 2024, and is an eligible dividend for Canadian income tax purposes.
New Risk • Aug 01New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 23% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.7x net interest cover). Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (5.0% net profit margin).
Reported Earnings • Aug 01Second quarter 2024 earnings: EPS and revenues miss analyst expectationsSecond quarter 2024 results: EPS: CA$0.52 (up from CA$0.46 in 2Q 2023). Revenue: CA$276.3m (up 43% from 2Q 2023). Net income: CA$14.0m (up 14% from 2Q 2023). Profit margin: 5.1% (down from 6.3% in 2Q 2023). Revenue missed analyst estimates by 13%. Earnings per share (EPS) also missed analyst estimates by 47%. Revenue is forecast to grow 10.0% p.a. on average during the next 2 years, compared to a 7.4% growth forecast for the Energy Services industry in the US. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth.
공시 • Jul 19North American Construction Group Ltd. to Report Q2, 2024 Results on Jul 31, 2024North American Construction Group Ltd. announced that they will report Q2, 2024 results After-Market on Jul 31, 2024
Seeking Alpha • Jul 04North American Construction Group: Steady Project Flows Curtailed By Utilization ConcernsSummary NOA has opportunities in the Australian heavy equipment market and oil sands industry, with recent awards improving asset utilization. Despite undervaluation, NOA's balance sheet with high debt and deteriorated cash flows raises concerns for strong returns in the short term. Acquisition of MacKellar diversified NOA's portfolio, but challenges like adverse weather and asset mobilization affected recent performance. Read the full article on Seeking Alpha
Recent Insider Transactions • Jun 25Chairman of the Board recently bought US$232k worth of stockOn the 24th of June, Martin Ferron bought around 12k shares on-market at roughly US$19.37 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Despite this recent buy, Martin has been a net seller over the last 12 months, reducing personal holdings by US$1.6m.
Upcoming Dividend • May 24Upcoming dividend of CA$0.10 per shareEligible shareholders must have bought the stock before 31 May 2024. Payment date: 05 July 2024. Payout ratio is a comfortable 20% and this is well supported by cash flows. Trailing yield: 1.5%. Lower than top quartile of American dividend payers (4.7%). Lower than average of industry peers (2.3%).
Recent Insider Transactions • May 17Chairman of the Board recently bought US$102k worth of stockOn the 16th of May, Martin Ferron bought around 5k shares on-market at roughly US$20.33 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Despite this recent buy, Martin has been a net seller over the last 12 months, reducing personal holdings by US$2.1m.
New Risk • May 03New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 5.4% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.4x net interest cover). Minor Risks Profit margins are more than 30% lower than last year (5.2% net profit margin). Shareholders have been diluted in the past year (5.4% increase in shares outstanding). Significant insider selling over the past 3 months (US$551k sold).
Reported Earnings • May 02First quarter 2024 earnings: EPS misses analyst expectationsFirst quarter 2024 results: EPS: CA$0.43 (down from CA$0.83 in 1Q 2023). Revenue: CA$297.0m (up 22% from 1Q 2023). Net income: CA$11.4m (down 48% from 1Q 2023). Profit margin: 3.8% (down from 9.0% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 46%. Revenue is forecast to grow 18% p.a. on average during the next 2 years, compared to a 7.7% growth forecast for the Energy Services industry in the US. Over the last 3 years on average, earnings per share has increased by 19% per year whereas the company’s share price has increased by 14% per year.
공시 • May 02+ 1 more updateNorth American Construction Group Ltd. Declares Quarterly Dividend, Payable on July 5, 2024North American Construction Group Ltd. announced on April 30, 2024, the board of directors declared a regular quarterly dividend of CAD 0.10 per common share, payable to common shareholders of record at the close of business on May 31, 2024. The Dividend will be paid on July 5, 2024, and is an eligible dividend for Canadian income tax purposes.
공시 • Apr 21North American Construction Group Ltd. to Report Q1, 2024 Results on May 01, 2024North American Construction Group Ltd. announced that they will report Q1, 2024 results After-Market on May 01, 2024
Recent Insider Transactions • Apr 10Chairman of the Board recently sold US$457k worth of stockOn the 2nd of April, Martin Ferron sold around 20k shares on-market at roughly US$22.85 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Martin has been a net seller over the last 12 months, reducing personal holdings by US$2.6m.
Recent Insider Transactions • Mar 27Chairman of the Board recently sold US$94k worth of stockOn the 19th of March, Martin Ferron sold around 4k shares on-market at roughly US$23.47 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Martin has been a net seller over the last 12 months, reducing personal holdings by US$2.2m.
Reported Earnings • Mar 15Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2023 results: EPS: CA$2.38 (down from CA$2.46 in FY 2022). Revenue: CA$957.2m (up 24% from FY 2022). Net income: CA$63.1m (down 6.3% from FY 2022). Profit margin: 6.6% (down from 8.8% in FY 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.4%. Earnings per share (EPS) missed analyst estimates by 17%. Revenue is forecast to grow 18% p.a. on average during the next 2 years, compared to a 7.8% growth forecast for the Energy Services industry in the US. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has increased by 28% per year, which means it is tracking significantly ahead of earnings growth.
공시 • Mar 14North American Construction Group Ltd. Provides Earnings Guidance for the Year 2024North American Construction Group Ltd. provided earnings guidance for the year 2024. For the period, the company expects combined revenue to be in the range of $1.5 billion - $1.7 billion.
공시 • Mar 09North American Construction Group Ltd., Annual General Meeting, May 15, 2024North American Construction Group Ltd., Annual General Meeting, May 15, 2024.
공시 • Mar 02North American Construction Group Ltd. Appoints Vanessa Guthrie AO to Its Board of DirectorsNorth American Construction Group Ltd. announced the appointment of Dr. Vanessa Guthrie AO to its Board of Directors, effective March 1, 2024. Dr. Guthrie has broad strategic experience in the natural resources sector in Australia, spanning more than 30 years. She hasheld a diverse array of senior leadership positions across operations, indigenous affairs, corporate development, andsustainability. These include being the Managing Director of Toro Energy Limited, an Australia Stock Exchange ("ASX") listedcompany involved in uranium mining, Vice President of Sustainable Development for Woodside Energy Group Ltd. and a minemanager for Alcoa Corporation. Dr. Guthrie also has extensive past and current experience serving on the boards of several prominent ASX-listed companies,including Santos Ltd, Orica Ltd. and Lynas Rare Earths Ltd. She is a former chair of Minerals Council of Australia and acurrent board member of Infrastructure Australia. Her contribution to the mining and resources industry was recognized in2017, via the award of an Honorary Doctor of Science degree from Curtin University, where she is now Chancellor Elect, for hercontribution to sustainability, innovation, and policy leadership in the resources industry. In 2021 she was also made an Officerof the Order of Australia for distinguished service to the minerals and resources sector, and as a role model for women inbusiness. Dr. Guthrie has a PhD in Geology, as well as qualifications in law, environment, and business management.
Upcoming Dividend • Feb 29Upcoming dividend of CA$0.10 per shareEligible shareholders must have bought the stock before 07 March 2024. Payment date: 05 April 2024. Payout ratio is a comfortable 14% and this is well supported by cash flows. Trailing yield: 1.2%. Lower than top quartile of American dividend payers (4.8%). Lower than average of industry peers (2.3%).
Declared Dividend • Feb 25Third quarter dividend of CA$0.10 announcedShareholders will receive a dividend of CA$0.10. Ex-date: 7th March 2024 Payment date: 5th April 2024 Dividend yield will be 1.3%, which is lower than the industry average of 2.3%. Sustainability & Growth Dividend is well covered by both earnings (14% earnings payout ratio) and cash flows (24% cash payout ratio). The dividend has increased by an average of 17% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 73% over the next 2 years, which should provide support to the dividend and adequate earnings cover.
공시 • Feb 22North American Construction Group Ltd. Declares Regular Quarterly Dividend, Payable on April 5, 2024On February 20, 2024, the North American Construction Group Ltd. announced that the board of directors declared a regular quarterly dividend of CAD 0.10 per common share, payable to common shareholders of record at the close of business on March 8, 2024. The Dividend will be paid on April 5, 2024, and is an eligible dividend for Canadian income tax purposes.
공시 • Feb 15North American Construction Group Ltd. to Report Q4, 2023 Results on Mar 13, 2024North American Construction Group Ltd. announced that they will report Q4, 2023 results After-Market on Mar 13, 2024
Seeking Alpha • Jan 17North American Construction - MacKellar Acquisition Makes This Too Cheap To IgnoreSummary North American Construction Group is a global provider of earthmoving services to the mining and oil and gas sectors. The recent acquisition of the MacKellar Group in Australia diversifies NOA's commodity exposure and is expected to boost earnings by ~50% in 2024. NOA's shares are trading at a low valuation of 6.7x Fwd P/E, making them a compelling buy with significant upside potential. Read the full article on Seeking Alpha
Seeking Alpha • Dec 29Bonhoeffer Capital - North American Construction Group: Awash With Competitive Advantages And Barriers To EntrySummary North American Construction Group is a construction services firm that provides heavy civil and bulk earthmoving services in supply-constrained markets. NAC has experienced significant growth in equipment utilization, return on invested capital (RoIC), and return on equity (RoE) over the past decade. The company has a strong competitive advantage in the industry, with a large equipment fleet, indigenous partnerships, and a contracted backlog of $3.0 billion. Read the full article on Seeking Alpha
Upcoming Dividend • Nov 24Upcoming dividend of CA$0.10 per share at 1.5% yieldEligible shareholders must have bought the stock before 29 November 2023. Payment date: 05 January 2024. Payout ratio is a comfortable 14% and this is well supported by cash flows. Trailing yield: 1.5%. Lower than top quartile of American dividend payers (5.0%). Lower than average of industry peers (2.0%).
Reported Earnings • Nov 02Third quarter 2023 earnings: EPS and revenues miss analyst expectationsThird quarter 2023 results: EPS: CA$0.43 (down from CA$0.75 in 3Q 2022). Revenue: CA$194.7m (up 1.8% from 3Q 2022). Net income: CA$11.4m (down 44% from 3Q 2022). Profit margin: 5.8% (down from 11% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 7.5%. Earnings per share (EPS) also missed analyst estimates by 26%. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has increased by 34% per year, which means it is tracking significantly ahead of earnings growth.
공시 • Nov 02North American Construction Group Ltd. Declares Regular Quarterly Dividend, Payable on January 5, 2024On October 31, 2023, North American Construction Group Ltd. Board of Directors declared a regular quarterly dividend of CAD 0.10 per common share, payable to common shareholders of record at the close of business on November 30, 2023. The Dividend will be paid on January 5, 2024, and is an eligible dividend for Canadian income tax purposes.
공시 • Oct 20North American Construction Group Ltd. to Report Q3, 2023 Results on Nov 01, 2023North American Construction Group Ltd. announced that they will report Q3, 2023 results After-Market on Nov 01, 2023
Seeking Alpha • Sep 12North American Construction Group: Interesting Indirect Mining PlaySummary North American Construction Group Ltd. announced the acquisition of Australian Heavy Equipment Solution provider MacKellar Group. The acquisition brings diversification in terms of geographical region, activities, and end clients. The deal is seen as very accretive to earnings per share and improves pro forma EBITDA. Read the full article on Seeking Alpha
Recent Insider Transactions • Sep 03Chairman of the Board recently sold US$367k worth of stockOn the 25th of August, Martin Ferron sold around 15k shares on-market at roughly US$24.44 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth US$501k. Martin has been a net seller over the last 12 months, reducing personal holdings by US$2.8m.
Upcoming Dividend • Aug 24Upcoming dividend of CA$0.10 per share at 1.2% yieldEligible shareholders must have bought the stock before 30 August 2023. Payment date: 06 October 2023. Payout ratio is a comfortable 12% and this is well supported by cash flows. Trailing yield: 1.2%. Lower than top quartile of American dividend payers (4.9%). Lower than average of industry peers (1.9%).
New Risk • Aug 17New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 9.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.9x net interest cover). Minor Risks Share price has been volatile over the past 3 months (9.7% average weekly change). Significant insider selling over the past 3 months (US$501k sold).
Recent Insider Transactions • Aug 11Chairman of the Board recently sold US$501k worth of stockOn the 2nd of August, Martin Ferron sold around 20k shares on-market at roughly US$25.06 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Martin has been a net seller over the last 12 months, reducing personal holdings by US$2.5m.
New Risk • Jul 29New major risk - Financial positionThe company's interest payments are not well covered by earnings. Net interest cover: 2.9x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.9x net interest cover). Minor Risk Significant insider selling over the past 3 months (US$879k sold).
Reported Earnings • Jul 28Second quarter 2023 earnings: EPS and revenues exceed analyst expectationsSecond quarter 2023 results: EPS: CA$0.46 (up from CA$0.27 in 2Q 2022). Revenue: CA$193.6m (up 15% from 2Q 2022). Net income: CA$12.3m (up 63% from 2Q 2022). Profit margin: 6.3% (up from 4.5% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 6.1%. Earnings per share (EPS) also surpassed analyst estimates by 12%. Revenue is forecast to grow 25% p.a. on average during the next 2 years, compared to a 8.9% growth forecast for the Energy Services industry in the US. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has increased by 57% per year, which means it is tracking significantly ahead of earnings growth.
공시 • Jul 28+ 1 more updateNorth American Construction Group Ltd. (TSX:NOA) entered into a definitive purchase and sale agreement to acquire Mackellar Mining Pty Ltd for CAD 395 million.North American Construction Group Ltd. (TSX:NOA) entered into a definitive purchase and sale agreement to acquire Mackellar Mining Pty Ltd for CAD 395 million on July 26, 2023. Under the terms of agreement, consideration consists of an upfront payment of CAD 67 million (AUD 75 million) which will be funded by the upsized revolving Credit Facility. In addition, liquidity from the Credit Facility and assumed equipment financing of MacKellar is estimated to provide CAD 200 million of the total consideration. The remaining amount will be paid as an earnout payment to be paid over 4 years. North American Construction Group currently has in place a CAD 300 million revolving credit facility with a syndicate of financial institutions. The transaction is subject to obtaining contractual consents and the satisfaction of other customary closing conditions. The transaction is expected to close in the fourth quarter of 2023. The transaction is represented less than 2.75x of expected EBITDA in 2024 and is expected to be over 50% accretive based on incremental earnings per share. National Bank Financial, Inc. acted as financial advisor to North American Construction Group. Fasken Martineau DuMoulin LLP and Corrs Chambers Westgarth acted as legal advisor to North American Construction Group.
New Risk • Jul 14New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 0.6% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.6% per year for the foreseeable future. Minor Risks High level of debt (107% net debt to equity). Significant insider selling over the past 3 months (US$879k sold).