NOA: Record Q3 revenue, but Australia and Fargo losses pressured earnings and cash conversion

Q3 combined revenue reached CAD 438 million and EBITDA was CAD 100 million, but Australian costs and Fargo’s contract loss weighed on earnings. FY revenue guidance midpoint rose to CAD 1.75 billion, while adjusted EBITDA midpoint fell to CAD 385 million.

Based on North American Construction Group Ltd. [NOA] Q3 2026 Audio Transcript — Nov. 5 2026