Q4 2025 Bird Construction Inc Earnings Call Transcript

Mar 12, 2026 / 02:00 PM GMT

Release Date Price: €21.4 (+7.00%)

Transcript

Key Points

Positve

Bird Construction Inc (BIRDF) reported a record backlog of over 11 billion, reflecting a 45% growth over 2024, providing multi-year visibility and confidence in revenue margin trajectory.
The company secured $4.7 billion worth of work in 2025, highlighting strong client relationships and a robust bidding environment.
Bird Construction Inc (BIRDF) achieved a full year gross profit margin of 10.5%, up from 9.7% in 2024, driven by higher growth in infrastructure and a shift toward higher margin collaborative work.
The acquisition of FRPD has expanded Bird Construction Inc (BIRDF)'s self-performed capabilities in marine construction, dredging, and land foundations, unlocking new cross-selling opportunities.
Bird Construction Inc (BIRDF) has a strong balance sheet with $167 million in cash and cash equivalents, providing resilience and flexibility for future growth and acquisitions.

Negative

Bird Construction Inc (BIRDF) experienced a net loss of $14 million in Q4 2025, primarily due to a $62.2 million impairment on accounts receivable and contract assets related to a single customer's creditworthiness concerns.
Revenue in 2025 was flat compared to 2024, impacted by delays in project starts due to economic uncertainty and less favorable weather conditions.
Quarterly margins were down modestly year over year, reflecting project delays and deferrals in industrial construction and industrial maintenance.
Adjusted EBITDA in Q4 2025 was $66.2 million, down from $71.9 million in the previous year, with a slight decrease in adjusted EBITDA margin.
The company faces potential challenges in accessing labor for large-scale data center projects, given the current full utilization of its electrical capacity.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

BDT.TO - Bird Construction Inc
Q4 2025 Bird Construction Inc Earnings Call
Mar 12, 2026 / 02:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good day, and thank you for standing by.

Welcome to the Bird Construction fourth quarter in full year 2025 results conference call and webcast.

We will begin with Terry McKibben, President and Chief Executive Officer, this presentation.

Which will be followed by a question-and-answer session.

To ask a question during this session, analysts will need to press 11 on your telephone.

You will then hear an automated message advising your hand is raised.

Please be advised that today's conference is being recorded.

And at this time, all participants are in a listen-only mode.

Before commencing with the conference call, the company reminds those present that

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