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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
North American Construction Group
North American Construction Group (NOA) investor relations material
North American Construction Group Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary5 Nov, 2026
Executive summary
Q3 combined revenue rose 12% YoY to $438.1M; adjusted EBITDA was $100.1M, while net loss was $24.2M.
Strong oil sands demand and IMC supported revenue; Australian operating challenges and Fargo costs weighed on margins and earnings.
FY26 revenue guidance rose to $1.7B–$1.8B, while adjusted EBITDA guidance narrowed to $370M–$400M; contractual backlog exceeded $3.2B.
Financial highlights
Q3 combined gross profit was $51.6M versus $56.8M, with margin of 11.8% versus 14.5%; adjusted EBITDA margin was 22.8% versus 25.3%.
Q3 adjusted net earnings were $6.6M versus $19.6M; adjusted EPS was $0.25 versus $0.66. Net loss was $24.2M versus net income of $17.3M.
Nine-month reported revenue was $1.13B versus $978.7M; adjusted EBITDA was $293.0M versus $278.9M.
Q3 cash from operations was $47.2M; free cash flow was an outflow of $28.3M versus an inflow of $45.7M a year earlier.
Outlook and guidance
FY26 combined revenue guidance rose to $1.7B–$1.8B from $1.6B–$1.8B; adjusted EBITDA guidance fell to $370M–$400M from $380M–$420M.
Q4 improvement is expected from IMC ramp-up, stronger Australian margins, higher oil sands utilization and Nuna fleet expansion; the $385M EBITDA midpoint depends on execution.
Remaining-year priorities include Australian workforce and cost optimization, IMC fleet commissioning and improved oil sands fleet availability.
Active bids totaled $3.8B, balanced between Australia and North America; awards were expected through late 2026 and early 2027.
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Latest events from North American Construction Group
- Record backlog and acquisitions drive strong 2026 outlook and global expansion.NOA
Investor presentation - Record Q2 revenue and raised 2026 guidance highlight strong growth and IMC integration.NOAQ2 2026
- Q1 2026 revenue up 8% to $423M, IMC drives growth, 2026 outlook strong with $3.9B backlog.NOAQ1 2026
- Entering 2026 with a $3.9B backlog and $1.6B revenue guidance, driven by global expansion.NOAInvestor presentation
- Global mining and infrastructure contractor targets $1.5–1.7B revenue in 2026.NOAInvestor presentation
- Record 2025 revenue, but Q4 hit by project costs; 2026 outlook strong with IMC acquisition.NOAQ4 2025
- Record Q3 revenue and EBITDA growth driven by MacKellar and Australian operations; 2024 outlook strong.NOAQ3 2024
- Record Q1 revenue and EBITDA, but margins fell on weather; 2025 outlook remains strong.NOAQ1 2025
- Record revenue, backlog, and Australian growth support robust 2025 outlook and diversification.NOAQ4 2024
Next North American Construction Group earnings date
Q4 202610 Mar, 2027
North American Construction Group
Next North American Construction Group earnings date
Q4 202610 Mar, 2027
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Frequently asked questions
North American Construction Group Ltd provides heavy civil construction and mining services to resource-based industries. The company offers earthworks, mine construction, and maintenance services to customers in the oil sands, gold, and other mineral sectors. The company is headquartered in Acheson, Canada, and its shares are listed on the TSX.