Bird Construction Full Year 2023 Earnings: Beats Expectations
Bird Construction (TSE:BDT) Full Year 2023 Results
Key Financial Results
Revenue: CA$2.80b (up 18% from FY 2022).
Net income: CA$71.5m (up 44% from FY 2022).
Profit margin: 2.6% (up from 2.1% in FY 2022). The increase in margin was driven by higher revenue.
EPS: CA$1.33 (up from CA$0.93 in FY 2022).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Bird Construction Revenues and Earnings Beat Expectations
Revenue exceeded analyst estimates by 2.4%. Earnings per share (EPS) also surpassed analyst estimates by 2.7%.
In the last 12 months, the only revenue segment was General Contracting Sector of The Construction Industry contributing CA$2.80b. Notably, cost of sales worth CA$2.56b amounted to 91% of total revenue thereby underscoring the impact on earnings. The largest operating expense was General & Administrative costs, amounting to CA$153.6m (91% of total expenses). Explore how BDT's revenue and expenses shape its earnings.
Looking ahead, revenue is forecast to grow 9.1% p.a. on average during the next 2 years, compared to a 1.9% growth forecast for the Construction industry in Canada.
Performance of the Canadian Construction industry.
The company's shares are up 7.3% from a week ago.
Risk Analysis
You should learn about the 1 warning sign we've spotted with Bird Construction.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
