Aecon reports second quarter 2024 results

Provided By GlobeNewswire

Last update: Jul 24, 2024

TORONTO, July 24, 2024 (GLOBE NEWSWIRE) -- Aecon Group Inc. (TSX: ARE) (“Aecon” or the “Company”) today reported results for the second quarter of 2024.

“With backlog of $6.2 billion and strong demand for Aecon’s services including recurring revenue programs, Aecon is well-positioned to achieve further revenue growth over the next few years,” said Jean-Louis Servranckx, President and Chief Executive Officer, Aecon Group Inc. “The recent Coastal GasLink Pipeline settlement along with the additional write-downs on legacy projects in the second quarter are anticipated to lead to improved profitability and margin predictability as the remaining three projects move closer to substantial completion. We are focused on embracing new growth opportunities linked to the energy transition and opportunities in select U.S. and international markets, while continuing to pursue and deliver the majority of our work in established markets and under more collaborative project delivery models.”