NACG's Q4 2024 revenue fell to $372.7 million

North American Construction Group Ltd. (NACG) announced its financial results for the fourth quarter and the entire year ending December 31, 2024. The announcement was made on March 19, 2025. In the fourth quarter, NACG generated combined revenues of $372.7 million. This represents a decrease from $416.9 million in the same period last year. Revenue from wholly-owned entities was $305.6 million, which is down from $328.3 million a year earlier. The decline was mainly due to reduced work in the Heavy Equipment – Canada segment. NACG's gross profit for the quarter was $42.0 million, yielding a gross margin of 13.7%. This was lower than the $65.6 million and 20% margin in Q4 2023. The decline in profit was influenced by lower contributions from Canada’s segment and integration costs from operations in Australia. Net income fell to $4.8 million for Q4 2024, down from $17.6 million in the previous year. The company attributed this decrease to lower gross profits, partially balanced by reduced administrative expenses. Free cash flow for the quarter was strong at $50.5 million. Total available capital liquidity reached $275.3 million, supported by a $522.6 million credit facility, with liquidity scheduled to last until October 2027. Looking forward, the company’s management highlights positive growth opportunities in the heavy civil infrastructure and mining sectors in both Australia and North America. A conference call will discuss these results further on March 20, 2025.