North American Construction Group Ltd. announced unaudited consolidated earnings results for the first quarter ended March 31, 2018. For the quarter, the company reported revenue was CAD 114,703,000 against CAD 92,842,000 a year ago. Income before income taxes was CAD 15,258,000 against CAD 13,086,000 a year ago. Net income and comprehensive income was CAD 11,131,000 against CAD 9,599,000 a year ago. Diluted net income per share was CAD 0.36 against CAD 0.31 a year ago. Cash provided by operating activities was CAD 39,036,000 against CAD 25,087,000 a year ago. Purchase of property, plant and equipment was CAD 18,853,000 against CAD 19,463,000 a year ago. Consolidated EBITDA was CAD 37,912,000 against CAD 30,282,000 a year ago. Adjusted EBITDA was CAD 39,090,000 against CAD 31,566,000 a year ago. Revenue grew in the current period compared to last year as a result of growth in heavy civil construction work at both the Kearl Oil Sands mine and the Highland Valley copper mine located in Central British Columbia. Operating income for the quarter was CAD 17.1 million, up from CAD 14.4 million for the same period last year. Recording of the sublease loss negatively affected basic and diluted earnings per share in the quarter by CAD 0.07 and CAD 0.06, respectively. The variance between basic income per share in the current period and basic income per share in the prior period, is also partially affected by the reduction in weighted average number, issued and outstanding common shares to just under 25.3 million as of March 31, 2018, compared to over 28 million shares as of March 31, 2017.

For the year 2018 the company expects annual sustaining capital expenditures to range between CAD 35.0 million to CAD 45.0 million, net of normal equipment disposals, primarily related to essential equipment replacement and capital maintenance requirements. The company believes that annual growth capital expenditures could range from CAD 25.0 million to CAD 30.0 million, to support the company's investment in new maintenance facility and the continued expansion of the company's equipment fleet capacity.