Aecon boosts profits after bolstering project backlog

Aecon says its fourth-quarter earnings shot up by nearly two-thirds from the same period last year as the construction firm shored up its project backlog.

The Toronto-based company says its net profit jumped to $19.7 million in the quarter ended Dec. 31 from $12.1 million in the same period in 2021.

It posted a revenue of $1.27 billion in its fourth quarter, compared to $1.09 billion a year earlier.

Aecon says its diluted earnings reached 26 cents per share, beating analyst expectations of 20 cents per share, according to financial data firm Refinitiv.