Latest news with #NOA
Yahoo
24-05-2025
- Sport
- Yahoo
Michigan State issued final notice of allegations from NCAA after self-reporting violations
LANSING, Mich. (WLNS) — Michigan State University has received a final notice of allegations (NOA) from the NCAA after self-reported violations that occurred during Mel Tucker's tenure. According to the , the university was issued this notice on April 29 after self-reporting violations in August 2023. The nature of the allegations is not made clear on the infractions dashboard. According to the NCAA, an is an official document issued when enforcement believes there is sufficient information to investigate a potential violation. The reports that a Michigan State spokesperson said the university is aware the NOA has been issued but has not received a copy. , Michigan State University President Kevin Guskiewicz said the university was under investigation for recruiting violations in April. A Michigan State spokesperson confirmed to the Detroit News that these are the violations the dashboard is referring to. categorizes infractions into three levels of violation: Level I Violations – Violations that seriously undermine or threaten the integrity of the NCAA Collegiate Model by providing substantial recruiting, competitive, or other advantages or benefits. Examples include lack of institutional control, academic misconduct, failure to cooperate, and cash payment or benefits to prospects. Level II Violations – Violations that provide more than a minimal but less than a substantial recruiting, competitive, or other advantage or benefits. Examples include failure to monitor, multiple recruiting or eligibility violations, and tampering. Level III Violations – Violations that are isolated or limited and provide no more than a minimal recruiting, competitive, or other advantage or benefits. Level III violations are processed by the enforcement's Level III/Secondary staff. 'Michigan State athletics has cooperated with the NCAA to review a potential matter concerning the football program under the former staff and will continue to do so for the duration of the process,' athletic department senior spokesman Matt Larson said in a statement to 6 News in April. 'NCAA rules do not permit the University to provide any additional details at this time.' Tucker was fired in 2023 following a sexual harassment investigation. The former coach is accused by Brenda Tracy, a rape survivor and activist who spoke to MSU's football team about sexual misconduct, of sexually harassing her during a call in April 2022. Tucker admitted to investigators that he masturbated during the phone call with Tracy but claimed the two had consensual 'phone sex.' Tracy filed a complaint with MSU's Office for Civil Rights and Title IX Education later that year, . Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
22-05-2025
- Business
- Yahoo
Have you made a mistake or need to change your tax return? Here's how
With the 2024 tax season now over for most of us (those with self-employment income and their spouse or partner still have until June 16 to file), the preliminary tax filing stats have been released by the Canada Revenue Agency. Of the 29.9 million personal tax returns filed to date, 94 per cent of us filed electronically, either using NETFILE for self-filing, or via a tax professional using EFILE. Nearly 60 per cent of Canadians who filed a 2024 return received a tax refund, with the average refund being $2,000. But what if you need to amend or change your recently-filed return, either because of a mistake, an omission such as finding an errant T-slip or missing donation receipt, or for any other reason? According to a CRA news release earlier this month, when it comes to changing a tax return already filed, most Canadians are still choosing to submit their request by paper, even if they filed their original tax return online. In 2024, more than two million change requests were submitted by paper, which was 80 per cent of all requests. The CRA is trying to change this by encouraging taxpayers to submit their change request online, calling it 'faster … easy and secure.' One of the reasons some taxpayers may need to make a change to their initial 2024 tax filings may be related to some of the 2024 tax slips, such as the T3 (trust income), T4 (remuneration paid), T4A (pension and other income) and T5 (investment income) slips being unavailable in the CRA My Account or through the Autofill my Return service as early as they were in previous years. In addition, some slips, such as the T4PS slips to report participation in your employer's employees profit sharing plan (EPSP), are inexplicably never available online and thus must be manually entered each year. This can often be a source of frustration for some employees who fail to enter the T4PS amounts manually into their tax preparation software, having relied nearly exclusively on the CRA autofill feature to capture all their tax slips. The good news is that it's easy to fix your return if you forgot to include something or spotted a mistake after filing. By fixing it online, you'll receive 'significantly faster service' than if you submit your change request by paper. The CRA noted that it only takes about two weeks to process an online change request. Due to a higher-than-normal paper inventory, however, paper requests will take 'significantly longer' to process. By submitting your request online, you will receive your notice of reassessment (NOR) and any refund you may be owed sooner. So, how do you change your return electronically? First, don't do anything until you have received your 2024 notice of assessment (NOA). Once your return has been assessed, and you've got your NOA in hand, there are a couple of ways you can go about submitting a change. The first way to request a change is to go through the CRA My Account. Once you log in, there's a service called Change my return that lets you request a change to a tax return for any of the 10 previous calendar years. It walks you through common updates such as adding tax slips or claiming the disability tax credit. It also includes questions and messages when the CRA needs more information, detects errors, or needs supporting documents to finalize your request. To make it even easier to find this year, the CRA has added a Change my return button to the tax returns section of the Overview page in My Account. This allows you to easily access the Change my return service for a particular tax year. Of course, to use this feature, you'll need to be registered for CRA My Account, which is now easier than in prior years since you can use the relatively new document verification service, which allows you to verify your identity and get immediate access to your online account, without having to wait for a CRA security code by mail. This is especially convenient given the threat of another upcoming postal strike. According to the CRA, in 2025 alone, more than 280,000 individuals have already used this document verification service. Another way to amend a prior year return is to use the ReFILE service, which is an online service that lets you send online adjustment requests with the same NETFILE-certified tax software you used for filing your tax return online initially. You can use ReFILE to send adjustment requests for 2024, 2023, 2022 and 2021 returns. Tax professionals who submit returns using the EFILE service, can use ReFILE for EFILE service providers. Some change requests may need you to send in supporting documents, such as donation or RRSP contribution receipts. But that shouldn't stop you from submitting your request online. If you do need to submit documents you can do so easily through your online My CRA account after submitting your online change request. The CRA's Submit documents online page outlines the steps you will need to take, so you can easily submit any documents needed to support your request without having to print or mail anything to the CRA. Once your request has been reviewed, you will get a NOR, indicating the changes made to your tax return or, if no changes were made, you'll get a letter explaining why the CRA didn't process your requested changes. Will Liberals fulfil a promise to give relief on RRIF withdrawals? Taxpayer fails to avoid penalty for TFSA overcontribution Finally, it's important to keep all receipts and documents for at least six years after you file your tax return, in case the CRA asks to see them. This includes items such as cancelled cheques or bank statements, or proof of any deduction or credit that you claimed. It's also a good idea to keep a copy of your tax return, the related NOA, and any NORs you receive for each year. These can be stored electronically, with cloud back-up, so that your tax information is always easily and quickly retrievable, should the CRA come knocking. Jamie Golombek, FCPA, FCA, CFP, CLU, TEP, is the managing director, Tax & Estate Planning with CIBC Private Wealth in Toronto. If you liked this story, in the FP Investor newsletter.
Yahoo
18-05-2025
- Business
- Yahoo
North American Construction Group Ltd (NOA) Q1 2025 Earnings Call Highlights: Record Revenue ...
Release Date: May 15, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. North American Construction Group Ltd (NYSE:NOA) achieved a record trailing 12-month combined revenue of $1.5 billion, indicating strong financial performance. The company expanded its heavy equipment fleet in Australia by over 10%, enhancing capacity to meet growing demand. In Canada's oil sands, NOA achieved a 60% equipment utilization rate, with February peaking at 70%, reflecting operational efficiency. The Fargo project surpassed 65% completion, with final construction underway, showcasing progress in key projects. NOA maintained administrative costs at 3.9%, meeting internal targets and demonstrating disciplined management. Weather conditions negatively impacted earnings, with a 5-7% reduction in gross margins due to rain in Australia and extreme cold in Canada. The Australian operations faced poor equipment utilization due to consistent rain, particularly affecting the Carmichael mine. High early component failures in Canada impacted gross profit margins, although measures are being taken to address this. The company experienced increased depreciation costs due to high idle hours in Canada, affecting earnings per share. NOA's net debt levels increased by $11 million in the quarter, partly due to free cash flow usage and growth spending. Warning! GuruFocus has detected 3 Warning Signs with NOA. Q: Can you provide insights on how Q2 might trend compared to Q1 in terms of top line and EBITDA? A: (Unidentified_3) We expect the top line and EBITDA to remain consistent with Q1. Although the oil sands are seasonally slower, the impact is less significant due to our diversified business. We anticipate a slight increase in EPS for Q2 due to lower depreciation. Q: Could you elaborate on the large infrastructure bidding opportunities in the US and Canada? A: (Unidentified_2) We are seeing a significant increase in P3 projects in the US, particularly around energy transition and climate resiliency. These include pumped hydro projects, dam constructions, and water retention projects. We have a strong leader for our infrastructure business starting in July, and we view these as lower-risk opportunities. Q: What was the financial impact of the rainy weather in Australia during Q1? A: (Unidentified_3) The weather impacted our gross profit margin in Australia by about 5 to 7%. Normally, Australia operates at a 25% gross profit margin, but it came in at 16-17% due to the weather. Q: How do you address investor concerns about management's ability to execute given repeated weather-related issues? A: (Unidentified_2) Our goal is to deliver on our guidance despite weather challenges. We aim to meet or exceed our internal expectations and market guidance, and we are committed to achieving our yearly targets. Q: Can you provide an update on the technician count and its impact on utilization targets in Canada and Australia? A: (Unidentified_2) Skilled trades are a global issue, but we have managed well in Australia and Canada. We have systems and processes in place to attract and retain skilled labor, and we are confident in reaching our utilization targets. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
Yahoo
15-05-2025
- Business
- Yahoo
North American Construction (NOA) Q1 Earnings Miss Estimates
North American Construction (NOA) came out with quarterly earnings of $0.36 per share, missing the Zacks Consensus Estimate of $0.52 per share. This compares to earnings of $0.58 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -30.77%. A quarter ago, it was expected that this heavy construction and mining services company would post earnings of $0.73 per share when it actually produced earnings of $0.71, delivering a surprise of -2.74%. Over the last four quarters, the company has surpassed consensus EPS estimates just once. North American Construction , which belongs to the Zacks Oil and Gas - Mechanical and and Equipment industry, posted revenues of $237.41 million for the quarter ended March 2025, surpassing the Zacks Consensus Estimate by 11.60%. This compares to year-ago revenues of $220.33 million. The company has topped consensus revenue estimates two times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. North American Construction shares have lost about 23.9% since the beginning of the year versus the S&P 500's gain of 0.1%. While North American Construction has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for North American Construction: unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $0.60 on $212.52 million in revenues for the coming quarter and $2.74 on $892 million in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Oil and Gas - Mechanical and and Equipment is currently in the bottom 6% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. One other stock from the same industry, National Energy Services Reunited (NESR), is yet to report results for the quarter ended March 2025. This company is expected to post quarterly earnings of $0.20 per share in its upcoming report, which represents a year-over-year change of +33.3%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. National Energy Services Reunited's revenues are expected to be $304.68 million, up 2.6% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report North American Construction Group Ltd. (NOA) : Free Stock Analysis Report National Energy Services Reunited (NESR) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research 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
Yahoo
14-05-2025
- Business
- Yahoo
North American Construction: Q1 Earnings Snapshot
ACHESON, Alberta (AP) — ACHESON, Alberta (AP) — North American Construction Group Ltd. (NOA) on Wednesday reported first-quarter earnings of $4.3 million. The Acheson, Alberta-based company said it had profit of 15 cents per share. Earnings, adjusted for one-time gains and costs, were 36 cents per share. The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 52 cents per share. The heavy construction and mining services company posted revenue of $237.4 million in the period, which topped Street forecasts. Four analysts surveyed by Zacks expected $212.7 million. _____ This story was generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on NOA at 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
