Stony Plain Road and 124 Street intersection reopens after Valley Line West LRT construction
The intersection of Stony Plain Road and 124 Street has reopened to traffic, one week ahead of schedule.
Marigold Infrastructure Partners, the company building the Valley Line West LRT, fully closed the intersection on April 22 to speed up construction on the project.
North and south traffic on 124 Street has reopened at full capacity, but east and west traffic on Stony Plain Road has been permanently reduced to one lane in both directions.
Right and left turns are permitted, except for eastbound to northbound left turns, which are permanently banned.
Pedestrian access has been reopened throughout the intersection.
Marigold says drivers will continue to see construction in the area for several years until the LRT project is completed.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Globe and Mail
12 minutes ago
- Globe and Mail
EMCOR (EME) Q2 Revenue Jumps 17%
Key Points EMCOR Group (NYSE:EME) posted record GAAP revenue and GAAP EPS for Q2 2025, surpassing Wall Street expectations (GAAP) for the quarter. Operating margins reached a new milestone during the quarter, driven by strength in construction segments and a record project backlog. The company raised its full-year FY2025 revenue guidance to $16.4 billion–$16.9 billion and its non-GAAP diluted EPS guidance to $24.50–$25.75, reflecting continued confidence in future growth. These 10 stocks could mint the next wave of millionaires › EMCOR Group (NYSE:EME), a leading specialty contractor delivering mechanical and electrical construction, building services, and industrial projects, released its Q2 FY2025 results on July 31, 2025. The major highlight was another record-setting quarter, with GAAP revenue and GAAP diluted earnings per share (EPS) both beating analyst expectations. Revenue (GAAP) reached $4.30 billion, versus the forecasted $4.11 billion, while GAAP EPS came in at $6.72, well above the $5.74 consensus. These results marked significant year-over-year growth and set new company records. The quarter was marked by strong execution in core business areas, robust growth in project backlog, and meaningful positive impact from recent acquisitions. Overall, it was a quarter of outperformance, with continued momentum across key metrics. Metric Q2 2025 Q2 2025 Estimate Q2 2024 Y/Y Change EPS (GAAP) $6.72 $5.74 $5.25 28.0% Revenue (GAAP) $4.30 billion $4.11 billion $3.67 billion 17.2% Operating Margin (GAAP) 9.6% 9.1% 0.5 pp Net Income $302.2 million $247.6 million 22.1% Remaining Performance Obligations ('RPOs') $11.91 billion $9.00 billion 32.4% Source: Analyst estimates provided by FactSet. Management expectations based on management's guidance, as provided in Q1 2025 earnings report. Business Overview and Recent Strategic Focus EMCOR Group operates as one of the largest specialty contractors in the United States, offering services such as mechanical construction (heating, ventilation, air conditioning, and plumbing), electrical contracting, facilities management, and industrial maintenance. Its business spans a wide range of markets, including healthcare, technology, institutional, and manufacturing. The company's operations are heavily focused in the U.S, with 97% of revenue generated domestically, allowing it to leverage local knowledge, maintain close customer relationships, and participate directly in national infrastructure investment trends. Key to EMCOR's recent trajectory has been its emphasis on diversification and expansion into high-growth sectors such as data centers, healthcare, and sustainable energy. This diversification is viewed as a buffer against sector-specific downturns, while also opening up multiple avenues for future growth. Recent large-scale projects, along with targeted acquisitions such as Miller Electric, have enhanced the company's breadth of offerings and added to its project pipeline. EMCOR's expertise in managing complex, technically demanding projects across multiple industries is a central aspect of its ongoing success. Quarter Highlights: Financial and Business Performance The second quarter featured record financial results. GAAP EPS of $6.72 topped the $5.74 analyst estimate, a 17.1% beat, while revenue of $4.30 billion (GAAP) surpassed the $4,109.08 million analyst estimate. Both top-line and bottom-line results set new quarterly company records (GAAP), with year-over-year GAAP revenue growth of 17.4% and GAAP diluted EPS growth of 28.0%. Operating margin (GAAP) rose to 9.6%, up from 9.1% in Q2 2024. The gains were powered largely by the company's Electrical and Mechanical Construction segments. Notably, although Miller's integration initially weighed on segment margins due to acquisition-related amortization costs. In segment detail, U.S. Electrical Construction and Facilities Services revenue jumped 67.5% year-over-year, propelled by substantial contributions from the Miller Electric acquisition and robust demand in areas such as data centers, healthcare, and institutional spaces. Operating margin for this segment hit a high of 11.8% (GAAP). Mechanical Construction and Facilities Services revenue climbed 6% year-over-year, with a segment record operating margin of 13.6% as the company continued shifting away from lower-margin site-based contracts toward more profitable mechanical services. Industrial Services, however, struggled, with revenue dropping 13.3% (GAAP) and a sharp fall into negative operating income. The company saw costs rise, notably selling, general, and administrative (SG&A) expenses (GAAP), which increased to $418.6 million or 9.7% of revenue, up from $351.2 million, or 9.6%, in Q2 2024. This uptick was tied to increased staff, higher incentive compensation driven by strong results, and the costs of integrating recent acquisitions. Management noted that it expects this ratio to normalize through the remainder of the year as integration costs abate. Depreciation and amortization expenses also rose. There were no material one-time events outside the Miller Electric acquisition that had a direct financial impact in the period. EMCOR's project pipeline was another highlight, with Remaining Performance Obligations (RPOs)—the value of booked, but not yet recognized, revenue—surging to a record $11.91 billion, up 32.4% from the prior year. This backlog was buoyed by wins in data center, healthcare, institutional, and entertainment sectors. Data center work is now a primary growth driver, evidenced by significant multi-site expansion and an increase in project complexity and scope. About 20% of RPOs are scheduled for recognition after the next 12 months as of the end of Q1 2025, reflecting the shift to larger and longer-duration projects in areas such as water/wastewater treatment and multi-year data center builds. Segment mix also continued to evolve. The Electrical and Mechanical Construction businesses are the primary growth engines, driven by both organic performance and the impact of acquisitions. Building Services are being reshaped to prioritize higher-margin mechanical contracts. Industrial Services remained a challenge, and management is focused on stabilizing this segment moving forward. EMCOR's business mix and execution capabilities—especially its adoption of prefabrication and virtual design and construction (VDC) methods—enabled consistent margin improvement and strong performance, particularly on complex and technically demanding jobs. The company pays a quarterly dividend. The dividend was maintained at $0.25 per share, unchanged from Q2 2024. Market Opportunity, Expertise, and Project Pipeline EMCOR's diversified service model allows it to meet demand across different sectors. Data center projects—a type of network and communications infrastructure—continued to stand out in the period, accounting for the majority of growth in the Electrical Construction segment. These projects now span more than 16 sites nationally, a sharp increase from three only a few years ago. EMCOR wins contracts to provide everything from high- and low-voltage wiring to fire protection (life-safety) and advanced cooling systems. Its involvement with the largest and most technically demanding data centers supports the higher backlog. Healthcare construction and renovation work is a close second in growth contribution, with RPOs in this sector rising 38% year-over-year as of Q1 2025. EMCOR's breadth in managing HVAC (heating, ventilation, air conditioning), plumbing, medical gas systems, and electrical infrastructure positions it well for complex hospital and research-lab projects. Another focus area is sustainable energy solutions, including projects that improve energy efficiency and reduce carbon emissions for clients. EMCOR's expertise in integrating these systems is a selling point for winning complex, multi-phase jobs. A key differentiator for EMCOR continues to be its ability to deliver large, multi-trade, and technically complex projects safely and on schedule. Its focus on project execution, labor planning, and sharing best practices within its network of subsidiaries enhances both results and reputation. The safety record and ability to meet labor needs for technically demanding sites remain competitive strengths. Looking Forward: Guidance and Watch Points EMCOR raised its full-year FY2025 outlook, increasing revenue guidance to $16.4 billion–$16.9 billion and non-GAAP diluted EPS guidance to $24.50–$25.75, on the back of strong results and a record pipeline. It now expects revenue between $16.4 billion and $16.9 billion for FY2025, up from the previous range of $16.1 billion to $16.9 billion. Non-GAAP diluted EPS guidance for FY2025 is $24.50 to $25.75, compared to the earlier $22.65 to $24.00. It also raised its full-year 2025 operating margin target to 9.0%–9.4%, compared to a prior outlook of 8.5%–9.2%. These adjustments reflect management's view that the robust backlog and strong execution are likely to continue supporting top and bottom-line growth. Guidance excludes further integration costs from the Miller Electric acquisition. Investors should keep an eye on several developing trends for the remainder of the year. Cost trends, especially the level of SG&A expense relative to revenue, remain a focal point as management works to contain integration and compensation-related expense growth. The Industrial Services segment has been a drag on margins and results; recovery here is an important milestone to watch. The cash position declined after recent acquisitions and share repurchases, as reflected by a decrease in cash and cash equivalents from $1,339.6 million at December 31, 2024, to $576.7 million at March 31, 2025, and to $486.0 million at June 30, 2025 (GAAP, Q1 and Q2 2025), and drew $250 million on its revolving credit facility in Q1 2025. Management signaled confidence in the company's cash generation and balance sheet. Finally, the ongoing shift in backlog—with more revenue poised for recognition beyond the next 12 months (approximately 20% of RPOs as of Q1 2025)—signals a move toward longer-duration, larger projects, improving future visibility. Revenue and net income presented using U.S. generally accepted accounting principles (GAAP) unless otherwise noted. Where to invest $1,000 right now When our analyst team has a stock tip, it can pay to listen. After all, Stock Advisor's total average return is 1,036%* — a market-crushing outperformance compared to 181% for the S&P 500. They just revealed what they believe are the 10 best stocks for investors to buy right now, available when you join Stock Advisor. See the stocks » *Stock Advisor returns as of July 29, 2025
CBC
13 minutes ago
- CBC
Vancouver's set to co-host World Cup next year. Who stands to benefit?
World Cup soccer is just a year away from descending on Vancouver. And while some are thrilled about international football stars coming to their backyard, others are concerned about the potential negative effects of hosting one of the biggest sporting tournaments in the world. "There's a concern that the city is really not seeing this as an opportunity to bring the community in ... but an opportunity to shut the community out in order to invite particular kinds of visitors to the expectations of FIFA," Meg Holden, an urbanist at Simon Fraser University, told The Current guest host Catherine Cullen. Holden's concern stems from a 98-page document detailing the stipulations of Vancouver's deal with FIFA to host part of the 2026 World Cup, which was made public on July 15 thanks to a three-year legal battle from independent journalist Bob Mackin. Vancouver and Toronto will both represent Canada as co-host cities during the tournament, jointly hosted in 2026 by Canada, the U.S. and Mexico from June 11 to July 19. But even though just seven games will be played at BC Place in Vancouver, some people have big concerns about its impact on the community, and who will actually see the profits. Branding, traffic, 'beautification' rules applied According to the document, Vancouver will have to enforce what's called a controlled area on a match day, as well as the day before a match day, within two kilometres of BC Place. That means the city will be required to cover up or remove "any advertisement and commercial identification located within the controlled area," though what that will look like is unclear. The document also says that public sales of food, beverages, fan items, souvenirs or similar products in the controlled area "must be in accordance with the restrictions defined, and further instructions provided by FIFA." In an emailed statement to the CBC, the Vancouver Host Committee said the controlled area "is in place specifically for the purpose of preventing unauthorized marketing to ensure protection of the FIFA Intellectual Property (IP), also known as their brand." It said that it will not require businesses in the area to close. City beautification, which involves making the city "as attractive as possible," is also mandatory within that same radius, along with traffic restrictions. Holden says this is especially alarming, as that includes Vancouver's Downtown Eastside, which has struggled with crime and homelessness, and could make life difficult for the most vulnerable. "Air quality inside can be terrible. Air quality outside could be terrible if we have a bad forest fire season. What are the plans to make life tolerable for people?" said Holden. City councillor Mike Klassen told CBC's On The Coast guest host Amy Bell that the city won't displace anyone, including those who live in the Downtown Eastside. Klassen said he wants the city to be "really sensitive and supportive" of people in the downtown core, but also wants to ensure "our city sparkles" as tens of thousands of spectators from around the world are about to visit. WATCH | Vancouver councillor addresses business concerns over FIFA contract: Vancouver councillor addresses business concerns over FIFA contract 11 days ago Cost of doing business FIFA is leaving additional costs for venues, policing, organizing, or security to the city. Organizers estimate it will cost between $532 million and $624 million to host the event in Vancouver. Some of that will be covered by the provincial government. Despite reassurances from the city, Jules Boykoff says residents should be very concerned about what hosting a World Cup event will mean for them. Boykoff is a professor of politics and government at Pacific University in Oregon, and has taken a deep dive into the long-term impacts of mega sporting events. "These sporting events, like the FIFA World Cup of soccer or the Olympic Games, tend to benefit the upper echelons of economic society at the expense oftentimes of working class people in the host city," he said. The province has said it estimates about a million out-of-province travellers will visit Vancouver between 2026 and 2031 because of the event, which will lead to an additional $1 billion in visitor spending. But Boykoff, who has written six books on the impact of the Olympic Games on host cities, finds it's usually the big sponsors who are raking in the extra cash, not local businesses. WATCH | Vancouver's FIFA World Cup contract could affect downtown restaurants: Vancouver's FIFA World Cup contract could affect downtown restaurants 13 days ago "When you look at those rosy forecasts that were made in the bid process for the FIFA World Cup, they've really wilted under the heat of reality," said Boykoff. "I mean, costs are increasing in city after city, and these cities are facing real fiscal pressure." In 2018, Chicago withdrew its bid to host World Cup games, saying it felt FIFA could not provide necessary details around how Chicago residents would be impacted. Then in 2021, Montreal withdrew its bid over a lack of provincial government support. Edmonton had a bid to host games, but wasn't chosen. Meanwhile, Boykoff says the World Cup means big bucks for its host organization. FIFA reported over $7.5 billion US in revenue between 2019 and 2022. PR firm Pitch Marketing Group estimates FIFA's revenue will surpass $10 billion US at the 2026 World Cup. According to Vancouver's 98-page contract, FIFA will keep the revenue from ticket sales and sponsorships. "So they have money and they could spread it around, but they tend to be quite miserly with it and look out for their own interests, not the city in which they're visiting," said Boykoff. City accountability Meg Holden says the City of Vancouver already took a big misstep when it originally promised a field at Memorial South Park as training grounds for the Canadian men's national team, switched to the existing National Soccer Development Centre at UBC following public outcry. The host committee says it's working with major businesses within the area to minimize disruptions, and will be ramping up that outreach to include local businesses, stakeholders and residents over the next year. Holden says the city could benefit from doing something similar to what it did ahead of the 2010 Vancouver Olympics. It hosted a plebiscite about the Winter Games, giving people a chance to voice their concerns and hopes for the big-time event.
CBC
13 minutes ago
- CBC
The Eastern Energy Partnership: Atlantic Canada's big pitch for Carney's nation-building list
Social Sharing On a gravel road by the side of the Trans-Canada Highway, New Brunswick's natural resources minister, John Herron, gazes down a long clearing cut through the forest. He sees poetry — national poetry, that is. Herron hopes one of New Brunswick's proposed "projects of national interest" will connect to an existing natural gas pipeline running under that clearing. "This is a nation-building project that checks every box," Herron says. The plan is to extend a gas line that now ends in Quebec City into New Brunswick to link with the Maritimes and Northeast Pipeline beneath the minister's feet. The line carries Alberta gas routed through the United States, or gas extracted in the U.S., into Atlantic Canada. But the Quebec extension would bypass American territory completely, creating an all-Canada route. "The poetry kind of goes like this: You have Western Canada gas going into Ontario, through the province of Quebec, [by] adding additional pipe from Quebec City into Atlantic Canada," the minister says. "That additional pipe, aspirationally speaking, would be made of Ontario steel.… This is a made-in-Canada solution. This is energy sovereignty." The proposal is on New Brunswick's list of projects submitted to Mark Carney's government for expedited regulatory approval under Bill C-5, which was adopted into law in June. Carney underscored his own build-Canada agenda again on Friday, after the deadline passed for a trade agreement with the U.S. and U.S. President Donald Trump raised tariffs on many Canadian exports. "Canadians will be our own best customer," Carney said in a statement. The Eastern Energy Partnership The prime minister's call for proposals has stirred interest from provincial governments across the country, not least in Atlantic Canada, where premiers see a new opportunity to boost their economies and meet a growing demand for electricity. Many of their proposals fall under the label of the Eastern Energy Partnership, which envisions the four Atlantic provinces generating more electricity and transmitting it to each other, to Quebec and to other buyers. They range from upgrading the subsea cable between Prince Edward Island and the New Brunswick mainland — likely one of the quicker, simpler projects — to a Nova Scotia proposal to build enough offshore wind turbines to generate a quarter of Canada's electricity needs. Winning the "project of national interest" designation gets proponents a faster regulatory review process but doesn't guarantee federal funding. It's also not a sure thing that Ottawa will approve the Eastern Energy Partnership projects as a whole. "I don't want the perfect to be the enemy of the good," says Nova Scotia Liberal MP Sean Fraser, the minister responsible for the Atlantic Canada Opportunities Agency. "I think we have an opportunity — and in fact an obligation — to move as quickly as possible on the components of the partnership that are ready," he says. Many of the projects face obstacles. Bill C-5 has provoked a skeptical reaction from some First Nations leaders concerned that accelerated reviews will compromise their right to be consulted. In New Brunswick, however, some chiefs are open to making deals. Pabineau First Nation Chief Terry Richardson supports the New Brunswick government's proposals, which include an expansion of nuclear power generation in the province. "I'm OK with it, because we need a solution. We need a baseline source of energy and right now we don't have any," says Richardson. "I mean, renewables are great, but what do you do when the wind don't blow, the sun don't shine, and the water don't flow?" Assembly of First Nations regional chief Joanna Bernard says many bands are keeping an open mind but will insist on equity stakes in projects. "Back in the day, it was 'Here's some scholarships,' or 'Here's capacity building so maybe your people can work on the pipeline.' Those days are gone," Bernard said. "We're going to own part of the company. We're going to be there on the ground, making sure environmental issues are of the highest priority. And the profits will go to the First Nations." Wind and nuclear power Nova Scotia Premier Tim Houston's Wind West plan to develop thousands of offshore turbines and export the electricity to other provinces could be a boon for national efforts to decarbonize its power sources, if it came to fruition at that scale. Scott Urquhart, the Cape Breton-born CEO of a Copenhagen-based wind energy company, says the project is doable, with the wind off Nova Scotia being "pretty much best in the world." WATCH | How challenging is Nova Scotia's offshore wind project? What it will take to get Nova Scotia's offshore wind project off the ground 2 months ago Nova Scotia Premier Tim Houston has plans to license enough offshore wind farms to produce 40 gigawatts of electricity — which could supply 27 per cent of Canada's total electricity demand. But what will it take to get there? The CBC's Tom Murphy spoke with Thomas Arnason McNeil of the Ecology Action Centre. But it may take a decade or more to get turbines turning, and at a considerably higher cost than the $5 to 10 billion the premier is forecasting, according to Halifax energy consultant Heidi Leslie. "The estimate is really low," she says. Wind power prices in a recent U.S. bidding process were far higher than what Ontario customers are now charged on their residential power bills, Leslie says. At that rate, "you're losing money on every kilowatt" from Wind West, she says. "And the further away it is from the place that's using it, the more expensive it is, because you need to build the transmission to get it there." New Brunswick and Nova Scotia are doubling their transmission links, but "that will certainly not be enough to handle what is required," says Larry Hughes, an energy expert at Dalhousie University in Halifax. New Brunswick's ambition to expand nuclear generation is also provoking questions. The province's existing nuclear power plant, Point Lepreau, has been plagued with costly problems since it began operating in 1983. It is responsible for a large part of the provincial power utility's $5-billion debt. More nuclear power — whether that is a second large reactor at Point Lepreau or small modular reactors — will only add to the financial burden, says David Coon, leader of New Brunswick's Green Party. "It's insane," Coon says. "We all get nuclear power bills of a size that no one is happy with because of the extremely expensive cost of owning a nuclear power plant." Affordability top of mind New Brunswick Premier Susan Holt says she gets it. Holt won a big majority last year after campaigning on affordability issues, and she's already faced blowback from residents about their power bills. She hopes neighbouring provinces will share the expense of more nuclear generation in exchange for some of the electricity that will be produced. "When I'm trying to deliver affordability for New Brunswickers, I'm looking at who's shouldering the burden with us," she says. "How do we reduce the cost to New Brunswick ratepayers while still pursuing our objectives of clean power and reliable power?" In addition to nuclear power, New Brunswick's electricity is generated by a combination of fossil fuels, hydro, and to a lesser extent, wind and biomass. Without its emissions-free nuclear reactor, the province would need to burn four times as much coal, making it even harder to lower emissions, says Brad Coady, its vice-president of business development. Meanwhile, the province's largest hydro dam, Mactaquac, needs a major upgrade that could cost up to $9 billion. Lori Clark, the CEO of N.B. Power, says there's an onus on the federal government to help defray the costs of decarbonizing the power supply, rather than passing costs on to customers. "I do really believe that the federal government has a role to play in this as well. They've set the deadlines for net zero," Clark says. Herron is also looking for federal support, invoking the possibility of a government ownership stake in the natural gas line extension. "I think there's an opportunity to de-risk the project if the project is initially state-owned and First Nation-owned," he says. That would speed up permitting "and it de-risks that investment for the private sector at a future date." Fraser would not commit to that — but he didn't close the door either, citing the precedent of the federal government's 2018 takeover of the Trans Mountain pipeline expansion project in British Columbia. "More often, the right outcome will be that we create the environment that will incentivize investment, that will allow private companies to set up to succeed and to employ people in the region," he adds. "But we don't want to write off the possibility that certain kinds of investments may be required for particular projects to make them viable if we believe the long-term interests of Canadians will be served."
