North American Construction Group Ltd (FRA:N5Z)

Q1 2025 North American Construction Group Ltd Earnings Call Transcript

May 15, 2025 / 01:00 PM GMT

Release Date Price: €14.9 (+2.05%)

Transcript

Key Points

Positve

North American Construction Group Ltd (NOA) achieved a record trailing 12-month combined revenue of $1.5 billion, indicating strong financial performance.
The company expanded its heavy equipment fleet in Australia by over 10%, enhancing capacity to meet growing demand.
In Canada's oil sands, NOA achieved a 60% equipment utilization rate, with February peaking at 70%, reflecting operational efficiency.
The Fargo project surpassed 65% completion, with final construction underway, showcasing progress in key projects.
NOA maintained administrative costs at 3.9%, meeting internal targets and demonstrating disciplined management.

Negative

Weather conditions negatively impacted earnings, with a 5-7% reduction in gross margins due to rain in Australia and extreme cold in Canada.
The Australian operations faced poor equipment utilization due to consistent rain, particularly affecting the Carmichael mine.
High early component failures in Canada impacted gross profit margins, although measures are being taken to address this.
The company experienced increased depreciation costs due to high idle hours in Canada, affecting earnings per share.
NOA's net debt levels increased by $11 million in the quarter, partly due to free cash flow usage and growth spending.

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

NOA.TO - North American Construction Group Ltd
Q1 2025 North American Construction Group Ltd Earnings Call
May 15, 2025 / 01:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good morning ladies and gentlemen. Welcome to the North American Construction Group conference call regarding the first quarter ended March 31, 2025. At this time, all participants are in listen-only mode. Following management prepared remarks, there will be an opportunity for analysts and shareholders and bondholders to ask questions. The media may monitor this call in listen-only mode. They are free to call any member of management, but they are asked not to code remarks from any other participant without the participant's permission.

The company wishes to confirm that today's comments contain forward-looking information and the actual resource could differatilly from a conclusion, forecast

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