Aecon Group Inc

Latest Results (16.10.2025):

Aecon Group Inc. reported strong financial results for the second quarter of 2025, highlighting significant revenue growth, improved profitability, and the highest-ever backlog in the company's history. The company's strategic acquisitions and robust project pipeline have contributed to its enhanced performance and positive outlook for the year.

Revenue Growth

Revenue for Q2 2025 reached $1,302 million, marking a 52% increase compared to Q2 2024. This growth was driven by higher volumes in industrial, nuclear, civil operations, and the impact of strategic acquisitions made in 2024.

Improved Operating Profit

Operating profit surged to $2.3 million in Q2 2025, a significant turnaround from an operating loss of $166.3 million in the same period last year. This improvement was primarily due to a decrease in losses from fixed price legacy projects.

Enhanced Adjusted EBITDA

Adjusted EBITDA for Q2 2025 was $41.1 million with a margin of 3.2%, compared to a negative Adjusted EBITDA of $(153.5) million in Q2 2024. The increase was largely due to reduced losses on legacy projects and higher gross profits in construction segments.

Reduced Loss at Shareholder Level

Loss attributable to shareholders decreased to $7.6 million in Q2 2025, compared to $123.9 million in Q2 2024. Diluted loss per share also improved from $1.99 to $0.12.

Record Backlog

As of June 30, 2025, Aecon reported a backlog of $10.746 billion, the highest in its history, up from $6.186 billion the previous year. New contract awards during the quarter contributed significantly to this record backlog.

Strategic Project Wins

Aecon secured a $1.3 billion alliance construction contract for the Darlington New Nuclear Project and reached financial close on a $477 million civil project post-quarter, further strengthening its Construction segment pipeline.

Operational Milestones

The Oneida Energy Storage Project commenced commercial operations, becoming Canada's largest grid-scale battery energy storage facility. Additionally, Aecon was recognized as one of Corporate Knights' 2025 Best 50 Corporate Citizens in Canada.