Aecon profits rise but fall short of expectations
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Hey there, time traveller!
This article was published 05/03/2025 (390 days ago), so information in it may no longer be current.
TORONTO – Aecon Group Inc. is reporting a quarterly profit boost of 44 per cent year-over-year, but the big earnings increase failed to match analysts’ expectations.
The construction contractor says income attributable to shareholders rose to $14.0 million in the quarter ended Dec. 31 from $9.7 million in the same period a year earlier.
Aecon says fourth-quarter revenues increased 12 per cent to $1.27 billion from $1.13 billion the year before.
On an adjusted basis, the Toronto-based infrastructure firm says diluted earnings jumped to 25 cents per share from 12 cents per share.
However, analysts were forecasting adjusted earnings of 41 cents per share, according to financial markets firm LSEG Data & Analytics.
The quarter capped off a year that saw Aecon report $59.5 million in losses, with CEO Jean-Louis Servranckx citing income drops owing partly to the sale of a minority stake in Skyport, which is handling an infrastructure overhaul at the Bermuda airport.
This report by The Canadian Press was first published March 5, 2025.
Companies in this story: (TSX:ARE)