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First Notice: Aecon’s second quarter results; Hamilton housing; Calgary home prices

First Notice: Aecon’s second quarter results; Hamilton housing; Calgary home prices

 

Strong second quarter for Aecon

Aecon Group Inc. yesterday reported results for the second quarter of 2021 with significant year-over-year increases in revenue, adjusted EBITDA and earnings per share, with backlog of $6.5 billion as of June 30. Revenue for the three months ended June 30 of $971 million was $192 million, or 25 per cent, higher compared to the same period in 2020. Another quarterly highlight was the awarding of three multi-year contracts, including West End Connectors, a consortium in which Aecon holds a 40 per cent interest, reaching financial close on the $729-million Eglinton Crosstown West Extension Advance Tunnel project in Toronto.  

 

Housing announcement scheduled for Hamilton 

The federal government will be making what it terms a major announcement on housing in Hamilton this morning. The presentation will be held at the Putman Family YWCA on Ottawa Street North at 11 a.m. 

 

U.S. housing starts jump in June

U.S. housing starts for June 2021 jumped 6.3 per cent compared to May, at a seasonally adjusted annual rate of 1.643 million, Madison’s Lumber Reporter reported today. It’s the highest in three months. For June 2021, total residential starts in the U.S. increased by 49 per cent from the same month one year ago, when it was 840,000. Permits for future homebuilding in June were up by 35 per cent. 

 

Calgary new home prices rose 3.5 per cent in June

Statistics Canada reported Wednesday that new home prices rose by 0.6 per cent nationally in June, the smallest increase in six months. Calgary (up 3.5 per cent) reported the largest monthly increase in new home prices with Guelph, Ont. and Saskatoon, Sask. both up 2.2 per cent in the month. On an annual basis, new home prices were up in all 27 municipal regions, with the largest increases in Kitchener–Cambridge–Waterloo (27.7 per cent), Ottawa (26.2 per cent), Windsor (22.8 per cent) and Montreal (19.9 per cent).  

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