Aecon consortium reaches commercial close on target price transit project
TORONTO, Jan. 28, 2025 (GLOBE NEWSWIRE) -- Aecon Group Inc. (TSX: ARE) ('Aecon' or the 'Company') announced today that an Aecon-led consortium has completed the collaborative development phase and reached commercial close on a progressive design-build transit project. The implementation phase will now commence under a target price contract. Aecon's share of the contract is valued at over $2.8 billion and will be added to its Construction segment backlog in the first quarter of 2025.
About Aecon
Aecon Group Inc. is a North American construction and infrastructure development company with global experience. Aecon delivers integrated solutions to private and public-sector clients through its Construction segment in the Civil, Urban Transportation, Nuclear, Utility, and Industrial sectors, and provides project development, financing, investment, management, and operations and maintenance services through its Concessions segment. Join our online community on X, LinkedIn, Facebook, and Instagram @AeconGroupInc.
Statement on Forward-Looking Information
The information in this press release includes certain forward-looking statements which may constitute forward-looking information under applicable securities laws. These forward-looking statements are based on currently available competitive, financial and economic data and operating plans but are subject to risks and uncertainties. Forward-looking statements may include, without limitation, statements regarding the operations, business, financial condition, expected financial results, performance, prospects, ongoing objectives, strategies and outlook for Aecon, including statements regarding: the anticipated commencement and completion of the project. Forward-looking statements may in some cases be identified by words such as "may," "will," "expects," "target," "future," "plans," "believes," "anticipates," "estimates," "projects," "intends," "should" or the negative of these terms, or similar expressions.
In addition to events beyond Aecon's control, there are factors which could cause actual or future results, performance or achievements to differ materially from those expressed or inferred herein including, but not limited to, the risk of not being able to meet contractual schedules and other performance requirements, the risks associated with a third party's failure to perform; the risk of not being able to meet its labour needs at reasonable costs; the risk of not being able to address any supply chain issues which may arise. These forward-looking statements are based on a variety of factors and assumptions including, but not limited to that: none of the risks identified above materialize, there are no unforeseen changes to economic and market conditions and no significant events occur outside the ordinary course of business. These assumptions are based on information currently available to Aecon, including information obtained from third-party sources. While Aecon believes that such third-party sources are reliable sources of information, Aecon has not independently verified the information. Aecon has not ascertained the validity or accuracy of the underlying economic assumptions contained in such information from third-party sources and hereby disclaims any responsibility or liability whatsoever in respect of any information obtained from third-party sources.
Risk factors are discussed in greater detail in Section 13 - "Risk Factors" in Aecon's 2023 Management's Discussion and Analysis for the fiscal year ended December 31, 2023 and Aecon's Management's Discussion and Analysis for the fiscal quarter ended September 30, 2024, each filed on SEDAR+ (www.sedarplus.ca). Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and Aecon undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
For further information:
Adam BorgattiSVP, Corporate Development and Investor Relations416-297-2600ir@aecon.com
Nicole CourtVice President, Corporate Affairs416-297-2600corpaffairs@aecon.com
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
an hour ago
- Yahoo
2 TSX Value Stocks to Buy When Everyone Else Is Selling
Written by Adam Othman at The Motley Fool Canada There is always value to be found in the stock market, even when the broader market has a bullish trend. As of this writing, the S&P/TSX Composite Index, which is the benchmark for the Canadian stock market, is nearing new all-time highs. The index is up by almost 17% from its low on April 8, 2025. Typically, savvier investors who can see through the noise of a market sell-off focus on investing when everyone else sells. What if I told you those investors still have opportunities to buy undervalued stocks even when the market is hitting new all-time highs? Year to date, the TSX is up by 5.75%. However, the TSX still has plenty of stocks trailing behind the rest of the market. Today, I will discuss two of them to help you determine whether they might be good candidates to consider long-term winners or stocks to avoid like the plague in your self-directed portfolio. Air Canada (TSX:AC) is a battered and bruised giant in the Canadian airline industry. The $6.05 billion market-cap company is Canada's flag-bearing and largest airline. The company operates domestic, U.S.-Canada transborder flights and several international routes worldwide. Air Canada was one of the top 20 largest airlines worldwide before COVID struck in 2019. Since the pandemic, the stock has failed to recover to better valuations. Despite not operating any flights, AC stock faced considerable cash burn to maintain its fleet, resulting in massive debt for the company without a recovery through operational revenue. Air Canada's most recent earnings report for the first quarter of 2025 saw it report $5.2 billion in revenue. Slightly down from $5.23 billion in the same quarter last year, the airline still generated around $387 million in adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA). The company continues to expand its capacity, and while it may take a long time, there seems to be a recovery on the horizon. Suncor Energy (TSX:SU) is another battered stock but in an entirely different industry. The $61.02 billion market-cap firm based in Calgary is an integrated energy company. It has operations that include oil sands development, production and upgrading, petroleum refining, offshore oil and gas operations, and wholesale distribution networks to retail the end product directly to consumers. The company is also advancing its transition into a lower-emission future. The company trades at roughly 10.29 times trailing earnings, indicating that it might be undervalued right now. As of this writing, Suncor stock trades for $49.71 per share and distributes $0.57 per share each quarter to its shareholders, reflecting a 4.59% annualized dividend yield. It can be a good investment to consider for locking in high-yielding dividends and long-term capital gains. For most investors, investing when the market is going downward does not make sense. Why invest in a bear market when there's nothing but losses everywhere? Smarter investors know how to use those downturns as opportunities to invest in undervalued stocks at a bargain. Despite what some investors might think, there still are opportunities during upticks to invest in bargains. Suncor stock and Air Canada stock might seem very risky investments, and that's because they are. However, the potential to recover to better valuations in the long run is there. If you have a well-balanced portfolio and a higher risk tolerance, these two might be good bets to pay off a few years down the line. The post 2 TSX Value Stocks to Buy When Everyone Else Is Selling appeared first on The Motley Fool Canada. Before you buy stock in Air Canada, consider this: The Motley Fool Stock Advisor Canada analyst team just identified what they believe are the Top Stocks for 2025 and Beyond for investors to buy now… and Air Canada wasn't one of them. The Top Stocks that made the cut could potentially produce monster returns in the coming years. Consider MercadoLibre, which we first recommended on January 8, 2014 ... if you invested $1,000 in the 'eBay of Latin America' at the time of our recommendation, you'd have $21,345.77!* Stock Advisor Canada provides investors with an easy-to-follow blueprint for success, including guidance on building a portfolio, regular updates from analysts, and two new stock picks each month – one from Canada and one from the U.S. The Stock Advisor Canada service has outperformed the return of S&P/TSX Composite Index by 24 percentage points since 2013*. See the Top Stocks * Returns as of 4/21/25 More reading Made in Canada: 5 Homegrown Stocks Ready for the 'Buy Local' Revolution [PREMIUM PICKS] Market Volatility Toolkit Best Canadian Stocks to Buy in 2025 Beginner Investors: 4 Top Canadian Stocks to Buy for 2025 5 Years From Now, You'll Probably Wish You Grabbed These Stocks Subscribe to Motley Fool Canada on YouTube Fool contributor Adam Othman has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. 2025 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
USA Today
3 hours ago
- USA Today
Here's how Stellantis CEO Antonio Filosa can earn up to $23 million annually
Here's how Stellantis CEO Antonio Filosa can earn up to $23 million annually Show Caption Hide Caption Stellantis: Major brands, global reach, challenges for automaker Explore the history of Stellantis, the automotive giant formed in 2021 through the merger of Fiat Chrysler Automobiles and PSA Group. Stellantis' new CEO Antonio Filosa will earn at least $4 million annually in his first two years at the helm, rising to up to $23 million a year from 2028, including bonuses, a document showed, although his remuneration will be lower than predecessor Carlos Tavares. Filosa officially becomes CEO of the owner of brands such as Chrysler, Peugeot and Jeep at the end of this month, tasked with turning around the carmaker's performance and recovering lost U.S. market share. He will receive an annual base pay of $1.8 million, a company document issued ahead of a July 18 extraordinary general meeting showed, just below the 2 million euros ($2.3 million) granted to his predecessor Tavares. On top of his starting salary, Filosa will pocket annual bonuses worth up to 400% of his base pay, based on the achievement of financial and business plan objectives set out by the company. Note to the next Stellantis CEO: Your first order of business, kill these 4 brands Filosa, formerly Stellantis' North American chief, will also be granted shares as long-term incentives (LTI), based on the company's performance, starting from up to 500% of his salary this year and up to a maximum of 780% from 2027. Until the potential LTIs are paid, in 2028, the company will provide the top manager a cash award of $1.2 million each year. Tavares, who abruptly resigned as CEO last December due to disagreements with the board over strategy, pocketed a final 35 million euro compensation package, despite a dramatic plunge in sales and profit and broken relationships with suppliers, dealers and investors. In 2023, when Stellantis reported record results, Tavares earned a total of 36.5 million euros. Filosa will also benefit from the company's U.S. health care and retirement plans and tax equalization benefits, as well as having access to other fringe benefits such as the personal use of the company's aircraft and vehicles, personal security and annual medical checkups. Filosa's term will be for five years, "to ensure leadership stability and maximize the ability of the company to respond effectively to profound and prolonged industry change," according to the document. Filosa will be appointed an executive board member at the July 18 EGM. Tavares was also appointed CEO for five years but left after just under four years. ($1 = 0.8763 euros) Reporting by Giulia Segreti and Giulio Piovaccari; Editing by Susan Fenton
Business Upturn
18 hours ago
- Business Upturn
Echofree Daily Wellness Supplement Launches Nationwide: Simplicity-Focused Option for Auditory Wellness Introduced
Denver, June 07, 2025 (GLOBE NEWSWIRE) — A new daily wellness supplement called Echofree has officially launched across the United States, offering adults a convenient option to support their general auditory well-being through a plant-based routine. According to the company, Echofree is designed for individuals looking to take a proactive approach to auditory health as part of their everyday lifestyle. Formulated with a blend of naturally derived ingredients, the supplement aims to complement healthy habits and routines that support overall ear wellness. Unlike traditional methods that may involve hardware or advanced interventions, Echofree emphasizes ease of use with its once-daily format. The product's simplicity is a key aspect of its appeal, allowing users to incorporate it into existing wellness regimens without disruption. The company notes that Echofree may be of interest to individuals looking for natural lifestyle support in the context of environmental noise exposure, aging-related wellness needs, or general interest in ear health. Produced in U.S.-based facilities that follow current industry safety standards, the supplement reflects a growing market trend focused on transparency and user education. To help foster consumer trust, Echofree offers detailed labeling, educational resources, and a satisfaction guarantee. More information—including a full list of ingredients and ordering options—is available through the official website at: About EchoFree EchoFree is a U.S.-based wellness brand committed to supporting individuals with easy-to-use, lifestyle-friendly dietary supplements. The company emphasizes transparency, simplicity, and consumer education, with a focus on plant-based formulas produced in facilities that meet current industry manufacturing standards. Media Contact: Company: EchoFree Address: 19655 E 35th Dr #100, Aurora, CO 80011 Email: [email protected] Order Phone Support: (888) 540-0856 SOURCE: EchoFree Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same.
