Bird Construction earns $14.1 million in Q2; construction revenue up year-over-year

MISSISSAUGA, Ont. – Bird Construction Inc. says it earned $14.1 million in the second quarter of 2022, as its construction revenue rose 3.7 per cent year-over-year.

The Mississauga-based company reported earnings of 26 cents per share for the three months ended June 30, compared to $13.6 million or 26 cents per share in the second quarter of 2021.

On an adjusted basis, Bird Construction earned $21.5 million or 16 cents per share in the second quarter, down from $30.1 million or 28 cents per share in the same period of 2021.

The company recorded year-over-year revenue growth of $20.3 million for the quarter, including contributions from Dagmar Construction Inc., which Bird acquired in September 2021.

Its construction revenue for the quarter rose 3.7 per cent to $576.7 million.

The company says as of June 30, it had a backlog of future work amounting to $2.9 billion, and a pending backlog amounting to $1.8 billion.

This report by The Canadian Press was first published Aug. 9, 2022.

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