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Bird reports strong third quarter, new contracts

DCN-JOC News Services
Bird reports strong third quarter, new contracts

MISSISSAUGA, ONT. — Bird Construction reported in its Q3 report that the third quarter was strong for the firm, with revenue growth of 7.6 per cent, contributing to 6.0 per cent growth year-to-date.

Construction revenue in the quarter was $668.2 million compared to $621.2 million. Year-over-year construction revenue was $1.72 billion compared to $1.622 billion.

The report was issued Nov. 8.

The company set a new record for its combined backlog and pending backlog of future work at Sept. 30, amounting to $2.9 billion and $2.1 billion, respectively, stated a release. Bird secured $731.1 million of new contracts and change orders in backlog and executed $668.2 million of construction revenues in the quarter, and added over $300 million of new awards to pending backlog.

During the third quarter of 2022, the company announced it was awarded the following projects and contracts:

  • Engineering, Procurement and Construction contracts for two wind farms in development by Capstone Infrastructure Corporation. The two wind farms, located in Alberta, have a combined rated capacity of 253.7 megawatts of renewable energy.
  • Construction of the Covenant Wellness Community Health Centre, an approximately 200,000-square-foot, three-storey building with a two-level underground parkade, located in Edmonton. The Community Health Centre is the first phase of Covenant Health’s planned Wellness Community. The award is valued at approximately $95 million.

“Bird continues to deliver strong financial results, underpinned by the strategic changes made to the business over the past several years,” stated Bird CEO Teri McKibbon in the release. “Our steadily growing revenue, improving margins and expanded recurring revenue highlight the company’s resilient business model, with minimal exposure to lump-sum turn-key contracts and a diversified national service offering.”

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