Bird Construction secured ~$1 billion in new awards across nuclear, civil, marine, and industrial markets, signaling sustained demand for its diversified services.
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Bird Construction (TSX: BDT) said Monday it has secured roughly $1 billion in new project awards and agreements spanning nuclear, civil, marine, mine infrastructure, industrial, and building sectors across Canada.
The company attributed the awards to demand across its target end markets and the strength of its diversified, self-perform platform. Bird also cited its focus on collaborative delivery models and disciplined project selection as factors in winning the work.
The awards cover a range of contract types. Bird said it expects to include the projects in its backlog in the coming quarters. The company did not break down the $1 billion total by individual project or sector, nor did it disclose the expected duration of the work.
The announcement comes as Canadian construction firms benefit from increased spending on energy, mining, and infrastructure. Bird, which operates coast-to-coast, has a history of bidding on large-scale industrial and civil projects. The company is 105 years old and employs a self-perform model that lets it control more of the construction process on site.
Bird did not provide a timeline for when the awards would start contributing to revenue. The company's last quarterly earnings showed a backlog of roughly $4.5 billion. The new awards represent about 22% of that figure, based on the disclosed aggregate value.
Shares of Bird Construction closed at C$34.50 on Friday, up 12% year to date. The stock has gained on the back of steady project wins and a strong Canadian infrastructure pipeline. The company is scheduled to report second-quarter earnings in August.
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