Aecon Group Reports Record Q2 Revenue and Doubles Adjusted EBITDA
Aecon Group (TSE:ARE) reported record second-quarter revenue of CAD 1.6 billion in 2026, a 25% increase year-over-year driven by strong performance across utilities, urban transportation, nuclear operations, and civil projects. Adjusted EBITDA doubled to CAD 82 million from CAD 41 million the previous year due to improved construction margins, particularly in key sectors like urban transit and civil infrastructure. The company also announced a CAD 320 million buyout of Oaktree Capital's preferred investment in Aecon Utilities, granting full economic control. With CAD 10.5 billion in backlog and strong free cash flow generation, management reaffirmed its guidance for double-digit revenue growth in 2026. Despite reporting a diluted loss per share due to the fair-value adjustment from the buyout transaction, adjusted earnings were positive at CAD 0.33 per share.
Tickers: $AEGXF
Topics: construction nuclear projects transportation utilities