{"id":13673,"date":"2023-03-01T06:15:36","date_gmt":"2023-03-01T14:15:36","guid":{"rendered":"https:\/\/essential.construction\/news\/aecon-boosts-profits-after-bolstering-project-backlog\/"},"modified":"2023-03-01T06:15:37","modified_gmt":"2023-03-01T14:15:37","slug":"aecon-boosts-profits-after-bolstering-project-backlog","status":"publish","type":"post","link":"https:\/\/essential.construction\/news\/aecon-boosts-profits-after-bolstering-project-backlog\/","title":{"rendered":"Aecon boosts profits after bolstering project backlog"},"content":{"rendered":"<p> <a href=\"https:\/\/essential.construction\/files\/membership-default-internal\/\" class=\"memberhide\"><img decoding=\"async\" src=\"https:\/\/essential.construction\/news\/wp-content\/uploads\/sites\/15\/2023\/01\/20220718_175041000_iOS.jpg\" alt=\"-\"><\/a><br\/><br \/>\n<\/p>\n<div>\n<p>TORONTO \u2013 Aecon Group Inc. says its fourth-quarter earnings shot up by nearly two-thirds from the same period last year as the\u00a0construction\u00a0firm shored up its project backlog.<\/p>\n<p>The Toronto-based company says its net profit jumped to $19.7 million in the quarter ended Dec. 31 from $12.1 million in the same period in 2021.<\/p>\n<p>It posted a revenue of $1.27 billion in its fourth quarter, compared to $1.09 billion a year earlier.<\/p>\n<p>Aecon says its diluted earnings reached 26 cents per share, beating analyst expectations of 20 cents per share, according to financial data firm Refinitiv.<\/p>\n<p>In December, Aecon snagged a $245-million BC Hydro contract to take the lead on an upgrade to the John Hart Dam, buoying its full-year backlog to $6.3-billion in a 29 per cent increase from 2021.<\/p>\n<p style=\"text-align: left;\">Four fixed-price legacy projects by joint ventures where Aecon is a partner registered an operating loss of $120 million, dragging down its full-year earnings to $30.4 million from $49.7 in 2021.<\/p>\n<p style=\"text-align: center;\"><strong>\u00a9 2023 The Canadian Press<\/strong><\/p>\n<\/p><\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-5143531171910809\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- News - Bottom -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-5143531171910809\"\r\n     data-ad-slot=\"8320848692\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><a href=\"https:\/\/canada.constructconnect.com\/dcn\/news\/economic\/2023\/03\/aecon-boosts-profits-after-bolstering-project-backlog\" rel=\"nofollow noopener\" target=\"_blank\">This article was originally posted at Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>TORONTO \u2013 Aecon Group Inc. says its fourth-quarter earnings shot up by nearly two-thirds from the same period last year &#8230; <a title=\"Aecon boosts profits after bolstering project backlog\" class=\"read-more\" href=\"https:\/\/essential.construction\/news\/aecon-boosts-profits-after-bolstering-project-backlog\/\" aria-label=\"Read more about Aecon boosts profits after bolstering project backlog\">Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1037],"tags":[357,295],"class_list":["post-13673","post","type-post","status-publish","format-standard","hentry","category-daily-commercial-news","tag-blog","tag-technology","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33"],"_links":{"self":[{"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/posts\/13673","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/comments?post=13673"}],"version-history":[{"count":0,"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/posts\/13673\/revisions"}],"wp:attachment":[{"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/media?parent=13673"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/categories?post=13673"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/tags?post=13673"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}