North American Construction Group Ltd (NOA) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, ladies and gentlemen. Welcome to the North American Construction Group conference call regarding the third quarter ended September 30th, 2025. At this time, all participants are in a 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 participant without that 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 CDAR and EDGAR, as well as on the company's website at nacg.ca. I will now turn the conference over to Jason Beanstra, CFO. Please go ahead. Thanks, Joanna. Good morning, everyone. As we did last quarter, I'll start off with the financials and pass the call to Joe for the operational and forward-looking commentary. Starting on slide four, The headline EBITDA numbers of $99 million and 14.6% gross margin were generated by a strong operational quarter and were much improved from the second quarter of 2025. We will discuss the specifics of the margin performance later, but in general, the operational teams were able to execute their plans effectively given steady weather conditions and con...