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AECON GROUP INC.

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Aecon Group Secures $126 Million Contract in Washington State

01/18/2022 | 07:56am EDT

By Adriano Marchese


Aecon Group Inc. on Tuesday said it has been awarded an infrastructure contract by the Washington State Department of Transportation worth $126 million.

The Canadian construction company said the contract is for the design of a four-lane diverging diamond interchange, the widening of SR-18 to four lanes from the interchange to Deep Creek.

Additionally, the company would deliver the design and construction of a four-lane bridge over Deep Creek, as well as a two-lane bridge over Raging River.

Aecon expects to begin construction in the third quarter of this year and to complete it by the fourth quarter of 2024.

"Building on our strong presence in Western Canada, expanding our business in the Northwestern US is a natural progression and we are encouraged by the robust infrastructure opportunities in this market," President and Chief Executive Officer Jean-Louis Servranckx said.


Write to Adriano Marchese at adriano.marchese@wsj.com


(END) Dow Jones Newswires

01-18-22 0756ET

Stocks mentioned in the article
ChangeLast1st jan.
AECON GROUP INC. 2.15% 14.71 Delayed Quote.-12.86%
ON SEMICONDUCTOR CORPORATION 5.49% 59.33 Delayed Quote.-12.65%
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04/28TRANSCRIPT : Aecon Group Inc., Q1 2022 Earnings Call, Apr 28, 2022
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04/27Aecon Group Reports Q1 Diluted Loss Per Share C$0.29
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04/27Earnings Flash (ARE.TO) AECON GROUP Reports Q1 Revenue C$986 Million
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04/27Earnings Flash (ARE.TO) AECON GROUP Reports Q1 Diluted Loss Per Share C$0.29
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04/27Aecon Group Inc. Reports Earnings Results for the First Quarter Ended March 31, 2022
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Analyst Recommendations on AECON GROUP INC.
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Financials
Sales 2022 4 352 M 3 405 M 3 405 M
Net income 2022 56,9 M 44,5 M 44,5 M
Net Debt 2022 463 M 362 M 362 M
P/E ratio 2022 17,2x
Yield 2022 5,04%
Capitalization 895 M 700 M 700 M
EV / Sales 2022 0,31x
EV / Sales 2023 0,30x
Nbr of Employees 5 600
Free-Float 98,4%
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Mean consensus OUTPERFORM
Number of Analysts 13
Last Close Price 14,71 CAD
Average target price 19,83 CAD
Spread / Average Target 34,8%
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Managers and Directors
Jean Louis Servranckx President, Chief Executive Officer & Director
David Smales Chief Financial Officer & Executive Vice President
John M. Beck Non-Executive Chairman
Anthony P. Franceschini Lead Independent Director
James Douglas Hole Independent Director