North American Construction Group Ltd. (NYSE:NOA) Q3 2024 Earnings Conference Call October 31, 2024 9:00 AM ET
Company Participants
Joe Lambert - President and CEO
Jason Veenstra - Chief Financial Officer
Conference Call Participants
Aaron MacNeil - TD Cowen
Yuri Lynk - Canaccord Genuity
Adam Thalhimer - Thompson Davis
Maxim Sytchev - National Bank Financial
Tim Monachello - ATB Capital Markets
Devin Schilling - Ventum Financial
Operator
Good morning, ladies and gentlemen. Welcome to the North American Construction Group Conference Call regarding the Third Quarter ended September 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 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 a conclusion, forecast or projection contained in that 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, Laura. Good morning, everyone, and thanks for joining our call today. I’m going to start with our Q3 2024 operational performance. Before handing over to Jason for the financial overview, and then I’ll conclude with the operational priorities, bid pipeline, outlook for the remainder of 2024 and expectations for upcoming winter works in 2025 before taking your questions.
On Slide 3, our Q3 trailing 12-month total recordable rate of 0.39 improves upon our Q2 results and remains below our industry-leading target frequency of 0.5. We continue to advance and improve our health and safety management systems with recent focus on hazard analysis, frontline supervision effectiveness, and Audiometric testing. Naturally, at this time of year, we ramp up our winter preparedness in Alberta. Oddly enough, we’ll also be commencing preparation for our summer programs in Australia with heat, hydration and cyclone weather as recurring topics.
On Slide 4, we continue to be recognized with industry awards in both safety innovations and leadership. Nothing makes me prouder than seeing our employees being recognized by our industry peers as being safety leaders. Across our business, we consistently see employees dedicated in living our core value of getting everyone home safe.