The Motley Fool Canada These growth stocks could double their revenues by 2025.
Robust pipeline
Aecon’s performance thus far in 2024 has been stellar. At $20.78 per share, the year-to-date gain and one-year price return are 64.27% and 97.85%, respectively. An investor’s overall return is higher if you include the 3.66% dividend yield. With a robust pipeline of major projects and a growing backlog, you have a reliable passive-income source.
The $1.3 billion company operates in the engineering and construction services industry. Aecon provides construction and infrastructure development services to the private and public sectors in Canada, the U.S., and internationally. Aecon’s most recent award is the Surrey-Langley SkyTrain project from the province of British Columbia. It has a 33.3% ownership stake in the $928 million contract.
As of June 30, 2024, the backlog was $6.2 billion, while new contract awards in the second quarter (Q2) of 2024 reached $766 million. Its president and chief executive officer (CEO), Jean-Louis Servranckx, said, “Aecon is well-positioned to achieve further revenue growth over the next few years.”