Aecon Group’s profit down in fourth quarter at $9.7 million, but up for full year
Aecon Group Inc. ARE-T says it earned $9.7 million in the fourth quarter of 2023, down from $19.7 million a year earlier.
The Toronto-based company says revenue for the quarter ended Dec. 31 totalled $1.13 billion, down from $1.27 billion a year earlier.
Earnings per diluted share were 15 cents, down from 26 cents during the fourth quarter of 2022.
However, earnings for its full financial year rose to $161.9 million, compared with $30.4 million in 2022.
Aecon president and CEO Jean-Louis Servranckx says 2023 was a transformational year for the company.
He says the company is focused on embracing new growth opportunities in the decarbonization and energy transition space, as well as U.S. and international markets.
