Bird Construction Inc
TSX:BDT

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Bird Construction Inc Logo
Bird Construction Inc
TSX:BDT
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Price: 28.12 CAD -2.06% Market Closed
Market Cap: 1.6B CAD

Bird Construction Inc
Investor Relations

Bird Construction, Inc. is an investment holding company with interest in construction services. The company is headquartered in Etobicoke, Ontario. The company went IPO on 2006-02-22. The firm focuses primarily on projects in the industrial, commercial and institutional sectors of the general contracting industry. In the industrial sector, it constructs industrial buildings, including manufacturing, processing, distribution, and warehouse facilities, and performs civil construction operations, including site preparation, concrete foundations, metal and modular fabrication, mechanical process work, underground piping and earthwork. In the commercial sector, its operations include construction and renovation of office buildings, shopping malls and plazas, big box stores and grocery stores and hotels for retailers and developers. In the institutional sector, it constructs and renovates hospitals, post-secondary education facilities, recreation facilities, prisons, courthouses, government buildings, long term care and senior housing, as well as environmental facilities and many others.

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Last Earnings Call
Fiscal Period
Q3 2025
Call Date
Nov 13, 2025
AI Summary
Q3 2025

Revenue Growth: Third quarter revenue reached $951.4 million, up 5.8% from last year, with over 60% of the increase coming from organic growth.

Margins: Margins remained strong but were slightly lower year-over-year, with a gross profit margin of 10.7% and adjusted EBITDA margin of 7%.

Record Backlog: Combined backlog surpassed $10 billion for the first time, providing strong visibility into future revenues and margins.

Guidance & Outlook: Management expects lower Q4 revenue versus last year due to project delays, but forecasts momentum building in the second half of 2026 as delayed projects start.

Credit Event: Company disclosed a potential $62 million exposure due to concerns about a single customer’s creditworthiness, with discussions ongoing and a Q4 provision expected.

Capital Strength: Balance sheet remains strong with $113.9 million in cash and significant available credit, supporting future growth and acquisitions.

Strategic Acquisition: Acquisition of FRPD expands self-perform and recurring revenue capabilities, supporting margin expansion and cross-selling opportunities.

2027 Targets: Management reaffirmed confidence in reaching 8% adjusted EBITDA margin by 2027, backed by backlog quality and upcoming project mix.

Key Financials
Revenue
$951.4 million
Gross Profit
$101.9 million
Gross Profit Margin
10.7%
Adjusted EBITDA
$66.9 million
Adjusted EBITDA Margin
7%
Net Income
$31.7 million
Earnings Per Share
$0.57
Adjusted Earnings
$35.4 million
Adjusted Earnings Per Share
$0.64
Year-to-Date Revenue
$2.52 billion
Year-to-Date Gross Profit
$259.5 million
Year-to-Date Adjusted EBITDA
$155.9 million
Combined Backlog
over $10 billion
Year-to-Date Securements
$3.8 billion
Operating Cash Flow (Trailing 12 Months)
$61 million
Free Cash Flow (Trailing 12 Months)
$25.7 million
Free Cash Flow Conversion
27.4%
Free Cash Flow Per Share
$0.46
Current Ratio
1.28x
Adjusted Net Debt to Adjusted EBITDA
1.05x
Long-term Debt to Equity
28%
Cash and Cash Equivalents
$113.9 million
Available Credit
$281.7 million
Earnings Call Recording
Other Earnings Calls

Management

Mr. Terrance Lloyd McKibbon ICD.D
President, CEO & Director
No Bio Available
Mr. Wayne R. Gingrich C.M.A., CPA
CFO & Treasurer
No Bio Available
Mr. Gilles Gerald Royer
Chief Operating Officer
No Bio Available
Mr. J. Paul Bergman CET
Executive Vice President of Buildings East
No Bio Available
Mr. Richard Begg
Chief Information Officer
No Bio Available
Mr. Charles Joseph Caza B.A., BA Sc Eng, L.L.B.
Executive VP & General Counsel
No Bio Available
Ms. Cheryl Ballerini
Director of Strategic Development & Communications
No Bio Available
Mr. Brian C. Henry
Chief People Officer
No Bio Available
Mr. Paul Douglas Pastirik B.Com., CPA, M.B.A.
Senior Vice President of M&A
No Bio Available
Mr. Peter Lineen
Executive Vice President of Health, Safety & Environment
No Bio Available

Contacts

Address
ONTARIO
Etobicoke
5700 Explorer Drive, Suite 400
Contacts
+19056024122.0
www.bird.ca