-- Aecon Group (ARE.TO) after trade Tuesday reported a narrower loss and higher revenue for the first quarter.
The construction and engineering company's adjusted loss attributable to shareholders, excluding most one-time items, was $13.3 million, or $0.21 per share, compared with a loss of $34.6 million, or $0.55, a year ago. FactSet expected $0.23 loss per share.
Revenue for the period rose to $1.26 billion from $1.06 billion in the year ago quarter. FactSet projected $1.13 billion.
"Driven by record backlog of $10.9 billion, growth in new geographies and markets, robust recurring revenue programs, and backed by strong opportunities tied to power generation, critical resource development, transit, water, and defence, Aecon expects 2026 revenue to exceed 2025 levels," Chief Executive Jean-Louis Servranckx said.
In its outlook, the company said it expects 2026 revenue to be above its 2025 result on the strength of its backlog as it works on projects in Canada, the United States and internationally.
Aecon shares closed down $1.03 to $48.10 on the Toronto Stock Exchange.