Bird Construction Full Year 2023 Earnings: Beats Expectations

Bird Construction (TSE:BDT) Full Year 2023 Results

Key Financial Results

• Revenue: CA$2.80b (up 18% from FY 2022).
• Net income: CA$71.5m (up 44% from FY 2022).
• Profit margin: 2.6% (up from 2.1% in FY 2022). The increase in margin was driven by higher revenue.
• EPS: CA$1.33 (up from CA$0.93 in FY 2022).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Bird Construction Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 2.4%. Earnings per share (EPS) also surpassed analyst estimates by 2.7%.

In the last 12 months, the only revenue segment was General Contracting Sector of The Construction Industry contributing CA$2.80b. Notably, cost of sales worth CA$2.56b amounted to 91% of total revenue thereby underscoring the impact on earnings. The largest operating expense was General & Administrative costs, amounting to CA$153.6m (91% of total expenses). Explore how BDT's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 9.1% p.a. on average during the next 2 years, compared to a 1.9% growth forecast for the Construction industry in Canada.

Performance of the Canadian Construction industry.

The company's shares are up 7.3% from a week ago.

Risk Analysis

What about risks? Every company has them, and we've spotted 1 warning sign for Bird Construction you should know about.

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