North American Construction Group Ltd. (NYSE:NOA) Q2 2024 Results Earnings Conference Call August 1, 2024 9:00 AM ET
Company Participants
Joe Lambert - President and Chief Executive Officer
Jason Veenstra - Chief Financial Officer
Conference Call Participants
Yuri Lynk - Canaccord Genuity Group Inc.
Aaron MacNeil - TD Cowen
Adam Thalhimer - Thompson Davis
Tim Monachello - ATB Capital Markets
Maxim Sytchev - National Bank Financial
Devin Schilling - Ventum Financial
Operator
Good morning, ladies and gentlemen. Welcome to the North American Construction Group Conference Call regarding the Second Quarter ended June 30, 2024. At this time, all participants are in a listen-only mode.
Following management's prepared remarks, there will be an opportunity for analysts, shareholders and bondholders to ask questions. The media may monitor this call in a listen-only mode. They are free to quote any member of management, but they are asked not to quote remarks from any other participant without that participant's permission.
The company wishes to confirm that today's comments contain forward-looking information and that actual results could differ materially from conclusions, forecasts or projections contained in the forward-looking information. Certain material factors or assumptions were applied in drawing conclusions or in making forecasts or projections that are reflected in the forward-looking information. Additional information about those material factors is contained in the company's most recent management's discussion and analysis which is available on SEDAR and EDGAR as well as on the company's website at nacg.ca.
I will now turn the conference over to Joe Lambert, President and CEO.
Joe Lambert
Thanks Ray. Good morning, everyone, and thanks for joining our call today. I'm going to start with a few slides showing our Q2 operational performance before handing it over to Jason for the financial overview. And then I'll conclude with our 2024 operational priorities, bid pipeline, backlog and finish up with our updated outlook for this year before taking your questions.
On slide 3, our Q2 trailing 12-month recordable injury rate remains below our industry leading target frequency of 0.5 and we continue to advance our safety programs, including timely training on wildfires and air quality, and advancements in increasing training access and coverage in regards to mental health.
It's easy to gloss over this quickly, but this consistency below a target that few in our industry could hit, even for one year, is one of our most meaningful and proudest achievements.
Our workforce hours have grown 340% since the wildfire lows of 2016 and are up 60% from the 2020 pandemic lows. And as we approach the 6 million annual man hour mark, we continue to maintain our focus to get everyone home safe.