Business
North American Construction Group Ltd. Announces Results for the Fourth Quarter and Year Ended December 31, 2025
ACHESON, Alberta, March 11, 2026 (GLOBE NEWSWIRE) -- North American Construction Group Ltd. ("NAC...
About this update from North American Construction Group Ltd.
[{"type":"text","content":"North American Construction Group Ltd. Announces Results for the Fourth Quarter and Year Ended December 31, 2025Free Cash Flow of $57 million for the Fourth Quarter of 2025\nACHESON, Alberta, March 11, 2026 (GLOBE NEWSWIRE) -- North American Construction Group Ltd. (\"NACG\") (TSX:NOA/NYSE:NOA) today announced results for the fourth quarter and year ended December 31, 2025. Unless otherwise indicated, figures are expressed in Canadian dollars with comparisons to prior periods ended December 31, 2024. Fourth Quarter 2025 Financial Highlights: Combined revenue was $344.0 million and decreased 7.7% (reported revenue of $305.6 million, no change)Combined gross profit was $29.3 million (8.5%) and decreased 35.9% (reported gross profit of $38.8 million (12.7%), decreased 3%)Adjusted EPS was $(0.14) and decreased from $1.01 (basic income per share of $0.00, decreased from $0.13)Adjusted EBITDA was $77.6 million and decreased 28.7% (net income of $0.1 million, decreased 96%)Free cash flow was an inflow of cash of $57.4 million and increased $7.0 millionNet debt was $878.5 million and decreased $25.5 million during the quarter Fourth Quarter 2025 Operational & Corporate Highlights: Fourth quarter operational and corporate achievements underscored our focus on growth, efficiency, and execution as we grow our scopes of work and set a strong foundation for future performance. The Fargo project progressed during the quarter and is nearing 85% of completion with our earthworks scopes advancing as planned. The joint venture project team provided a late-stage update with approximately $50 million of cost increases for scopes related to structures, railroads and aqueducts. Our share of the late change was one-time catch-up of $13 million and severely impacted both adjusted EBITDA and earnings per share.Australian operations delivered record fourth-quarter combined revenue, up 10% year-over-year, fueled by higher volumes from newly commissioned growth assets, recent contract wins and strong site performance and equipment utilization. Above average wet weather late in the quarter impacted the mines in Queensland and had a pronounced effect on the Carmichael mine given the alliance-type arrangement at that site.Our oil sands operations remained stable, with consistent equipment and personnel utilization from Q3 to Q4 with mechanical a...