Inferra AI / Company / NOA
North American Construction Group
NOA · Industrials
Last earnings Aug 12, 2026
Key results
Revenuequarter
$456.1 million
In the second quarter of 2026, we delivered strong top-line growth, recording combined revenue of $456.1 million, a 23% increase compared to 2025 Q2.
SEC original ↗North American Construction Group — Earnings release (6-K report)6-KAug 12, 2026
This $85.5 million increase was driven primarily by IMC, contributing $90.6 million of combined revenue, which includes reported revenue, joint venture revenue, and the pre-acquisition economic benefit from April 1 to 6.
SEC original ↗North American Construction Group — Earnings release (6-K report)6-KAug 12, 2026
Gross marginquarter
10.9%
Combined gross profit margin increased to 10.9% from 9.0% reflecting both impact of IMC's higher gross margin and the 2025 Q2 project write-down incurred within the Fargo joint ventures.
SEC original ↗North American Construction Group — Earnings release (6-K report)6-KAug 12, 2026
Free cash flowquarter
$23.0 million
Free cash flow improved to $23.0 million in 2026 Q2, compared to negative $0.4 million in 2025 Q2, reflecting higher EBITDA and improved working capital changes offset by higher interest costs.
SEC original ↗North American Construction Group — Earnings release (6-K report)6-KAug 12, 2026
Growthquarter
up $109.4 million
Heavy Equipment - Australia commentary The Heavy Equipment Australia segment recorded revenue of $277.5 million in 2026 Q2, up $109.4 million, or approximately 65%, from $168.1 million in 2025 Q2.
SEC original ↗North American Construction Group — Earnings release (6-K report)6-KAug 12, 2026
The majority of this increase reflects the addition of IMC, acquired on April 7, 2026, which contributed $84.5 million of reported revenue in the quarter.
SEC original ↗North American Construction Group — Earnings release (6-K report)6-KAug 12, 2026
Australia business grew revenue by approximately $24.9 million year-over-year, driven by commissioned growth assets, strong execution on existing projects and a higher average AUD CAD translation rate.
SEC original ↗North American Construction Group — Earnings release (6-K report)6-KAug 12, 2026
revenue of $193.0 million, representing a margin of approximately 14.1%, a modest year-over-year decline that reflects higher depreciation arising from the reduction of capital work in progress and the placement of completed assets into service.
SEC original ↗North American Construction Group — Earnings release (6-K report)6-KAug 12, 2026
AI analysis
Q2 2026 · reported Aug 12, 2026
Based on: Earnings release — transcript not held
Headline figures
| Metric | Q2 2026 | Prior qtr | Year ago |
|---|---|---|---|
| Revenue | $456.1 million | — | — |
| Gross margin | 10.9% | — | — |
| Free cash flow | $23.0 million | — | — |
| Growth | up $109.4 million | — | — |
Guidance · company-stated
No guidance located in the held release
“Record quarterly revenue of more than $450 million demonstrates both the growing scale of the business and the demand across our markets and gave us the confidence to raise our revenue midpoint guidance to $1.”
Margin
Cash flow & capex
Capital allocation
We also use supplementary financial measures such as gross profit margin and total net working capital (excluding cash and current portion of long-term debt) in our MD A.
These favorable factors were partially offset by higher interest expense reflecting increased debt levels, greater amortization of intangibles associated with recent acquisition activity, and elevated general and administrative costs as discussed above.
Event summary
20549 FORM 6-K Report of Foreign Private Issuer Pursuant to Rule 13a-16 or 15d-16 under the Securities Exchange Act of 1934 For the month of August 2026 Commission File Number 001-33161 NORTH AMERICAN CONSTRUCTION GROUP LTD
Based on: Earnings release — transcript not held
Guidance & outlook
No guidance located in the held release
Capital allocation
We also use supplementary financial measures such as gross profit margin and total net working capital (excluding cash and current portion of long-term debt) in our MD A.
SEC original ↗North American Construction Group — Earnings release (6-K report)6-KAug 12, 2026
These favorable factors were partially offset by higher interest expense reflecting increased debt levels, greater amortization of intangibles associated with recent acquisition activity, and elevated general and administrative costs as discussed above.
SEC original ↗North American Construction Group — Earnings release (6-K report)6-KAug 12, 2026
Adjusted EBITDA of $93.5 million was partially offset by $62.5 million in sustaining capital expenditures and $18.2 million in cash interest payments, generating $12.8 million in cash from core operations.
SEC original ↗North American Construction Group — Earnings release (6-K report)6-KAug 12, 2026
Issuance of 7.00% Senior Unsecured Notes On June 16, 2026, we closed our private placement of $200 million aggregate principal amount of 7.00% Senior Unsecured Notes due June 16, 2031.
SEC original ↗North American Construction Group — Earnings release (6-K report)6-KAug 12, 2026
Total consideration was $84.6 million, structured as follows April 7, 2026 Cash consideration $ 42,283 Earn-out at estimated fair value 30,122 Seller takeback consideration 12,200 Total consideration transferred $ 84,605 The upfront cash payment was funded through our revolving credit facility.
SEC original ↗North American Construction Group — Earnings release (6-K report)6-KAug 12, 2026
This increase was partially offset by a significant reduction in Credit Facility interest expense, which decreased to $8.5 million from $11.7 million, reflecting lower average outstanding balances, and a decline in convertible debenture interest to $0.7 million from $2.0 million.
SEC original ↗North American Construction Group — Earnings release (6-K report)6-KAug 12, 2026
Strategy & priorities
In Australia, following a successful acquisition, IMC is performing in line with expectations, and with the addition of its new eight-bay workshop to support our regional demand and asset rebuild strategy, we are positioned well for continued growth.
SEC original ↗North American Construction Group — Earnings release (6-K report)6-KAug 12, 2026
At MacKellar, expanded scopes, and a focus on process improvements are leading to increased equipment availability and utilization while reducing reliance on external subcontractor labour.
SEC original ↗North American Construction Group — Earnings release (6-K report)6-KAug 12, 2026
In the oil sands, our fleet optimization is well underway and our teams are focused on converting strong demand into improved equipment utilization, margins and returns.
SEC original ↗North American Construction Group — Earnings release (6-K report)6-KAug 12, 2026
With our Fargo-Moorhead project coming to an end in late Q3, we are focused on securing replacement scopes.
SEC original ↗North American Construction Group — Earnings release (6-K report)6-KAug 12, 2026
Our priorities for the second half are clear execute the work in hand, improve fleet availability and utilization, convert earnings into free cash flow and allocate that capital toward the strongest risk-adjusted returns.
SEC original ↗North American Construction Group — Earnings release (6-K report)6-KAug 12, 2026
Risks & headwinds
The material factors or assumptions used to develop the above forward-looking statements include, and the risks and uncertainties to which such forward-looking statements are subject, are highlighted in the MD A for the three and six months ended June 30, 2026.
SEC original ↗North American Construction Group — Earnings release (6-K exhibit)EX-99Aug 12, 2026
Actual results could differ materially from those contemplated by such forward-looking statements because of any number of factors and uncertainties, many of which are beyond NACG s control.
SEC original ↗North American Construction Group — Earnings release (6-K exhibit)EX-99Aug 12, 2026
Competitors
Competitors & peers
Same GICS sector — classification peers, not declared competitors
Filings
29 documentsEarnings releases
4 documentsPresentations
0 documentsNo presentations for North American Construction Group are held in this edition of the library.
Transcripts
0 documentsNo transcripts for North American Construction Group are held in this edition of the library.
Mentioned by
1 companyOther tracked companies whose held documents mention North American Construction Group by name or ticker. A mention is counted once per document, from the document text the library holds.
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