Overview

* Bird Q2 construction revenue falls 2.6% yr/yr

* Adjusted EPS and adjusted EBITDA miss analyst expectations, per LSEG data

Outlook

* Bird expects Q3 delays similar to Q2 due to market conditions

* Company remains confident in 2027 Strategic Plan targets

Result Drivers

* PROJECT DELAYS - Temporary project delays due to clients adapting to changing market conditions impacted Q2 revenue, which fell 2.6% year-over-year

* MARGIN IMPROVEMENT - Gross profit percentage improved to 10.6% from 8.6% in the prior year, despite revenue decline

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 C$850.77

Construc mln

tion

Revenue

Q2 Miss C$0.5 C$0.52

Adjusted (6

EPS Analysts

)

Q2 Net C$20.28

Income mln

Q2 Miss C$54.91 C$57.70

Adjusted mln mln (7

EBITDA Analysts

)

Q2 Basic C$0.37

EPS

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the construction & engineering peer group is "buy"

* Wall Street's median 12-month price target for Bird Construction Inc ( BIRDF ) is C$35.00, about 13.4% above its August 12 closing price of C$30.32

* The stock recently traded at 61 times the next 12-month earnings vs. a P/E of 42 three months ago

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)