Aecon Group Inc T.ARE

Alternate Symbol(s): AEGXF

Industrials Conglomerates

Aecon Group Inc. is a Canada-based construction and infrastructure development company. The Company delivers integrated solutions to private and public sector clients throughout Canada and other countries. It operates through two segments within the infrastructure development industry: Construction and Concessions. Its Construction segment includes all aspects of the construction of both public and private infrastructure, primarily in Canada, and internationally and focuses primarily on the civil infrastructure, urban transportation solutions, nuclear power infrastructure, utility infrastructure and industrial infrastructure. Its Concessions segment include the development, financing, build and operation of construction projects primarily by way of public-private partnership contract structures, as well as integrating the services of all project participants. The Company’s projects include Annacis Water Supply Tunnel, Bell Canada Gigabit Fiber Service, Finch West LRT, and others.

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Aecon Group Inc

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Post by zutfieon Sep 25, 2023 11:59am

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Post# 35652373

CIBC's Jacob Bout

DJ Aecon Group's Legacy Projects Still A Drag -- Market Talk

Monday, September 25, 2023, 11:47 AM ET

1147 ET - Aecon Group has a number of fixed-price legacy projects and write-downs associated with them, weighing on the company, and CIBC's Jacob Bout says there may be more to come. "While the company has already taken write-downs associated with the CGL and Finch West projects, we believe further write-downs associated with Eglinton (in H2/23) and Gordie Howe (in 2024) are a possibility," he says. Excluding the legacy projects, Bout believes the rest of the business is displaying positive revenue and profitability trends, with "recent infrastructure and nuclear project awards that are set to add billions to backlog." But he adds that the risk of further legacy write-downs will likely have investors taking a more mode

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