North American Construction Group Ltd (NOA) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to the North American Construction Group conference call regarding the second quarter ended June 30, 2025. At this time, all participants are in listen-only mode. Following management's prepared remarks, there will be an opportunity for analysts, shareholders, and bondholders to ask questions. The media may monitor this call in listen-only mode. They are free to quote any member of management, but they are asked not to quote remarks from any other participants without the participant's permission. The company wishes to confirm that today's comments contain forward-looking information and that actual results could differ materially from a conclusion, forecast, or projection contained in that forward-looking information. Certain material factors or assumptions were applied in drawing conclusions or in making forecasts or projections that are reflected in the forward-looking information. Additional information about those material factors is contained in the company's most recent management discussion and analysis, which is available on CEDAR and EDGAR, as well as on the company's website at nacg.ca. I'll now turn the conference over to Mr. Jason Winstra. Thank you. Please go ahead. Thanks, Ina, and good morning, everyone. A bit of a change today as I'll start off right away with the financials and pass the call to Joe for the operational and outlook commentary. Starting on slide four, the headline EBITDA number of $80 million and the correlated 21.6% margin were impacted primarily by three distinct challenges in the quarter. First, based on the strong growth in Australia, we were required to incur higher than expected maintenance costs on subcontractor labor. The ramp-up curve in Australia has resulted in a lag in recruitment of our critical heavy equipment tec...