North American Construction Group Ltd. (NOA) Form 6-K — Nov 4, 2026
North American Construction Group reported a Q3 2026 net loss of $24.2 million ($0.90 per share) versus net income of $17.3 million a year ago, driven by a $49.9 million loss on its 30%-owned Fargo-Moorhead Flood Diversion joint venture after project costs were revised up by roughly $150 million on a 100% basis. Underlying operations were stronger: revenue rose 30% to $413.3 million with combined revenue of $438.1 million, and adjusted EBITDA was essentially flat at $100.1 million, though margins compressed on Australian fleet availability issues and a Western Australia pit wall failure.
Key figures
- Revenue
- 413276000
- Guidance
- 2026 combined revenue $1.7-1.8B (raised from $1.6-1.8B); adjusted EBITDA $370-400M (lowered from $380-420M)
- Total Debt
- Net debt $1,123.0M; senior-secured debt $646.2M; senior unsecured notes $550.0M
- Revenue Yoy
- 30%
- Total Assets
- 2223716000
- Cash Position
- 111657000
- Adjusted eps q3
- 0.25
- Total liquidity
- 411900000
- Combined backlog
- 3226576000
- Adjusted ebitda q3
- 100079000
- Dividend per share
- $0.12/quarter
- Combined revenue q3
- 438088000
- Average cost of debt
- 6.9%
- Fargo project write down
- 49900000
- Adjusted ebitda margin q3
- 22.8%
- Fargo cost increase 100pct
- 150000000
AI analysis
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