08:26 AM EST, 12/05/2024 (MT Newswires) -- North American Construction Group ( NOA ) edged higher in premarket New York trading on Thursday after releasing 2025 guidance and saying a unnamed major Alberta oil-sands producer agreed to amend a contract with the company and extend it to the end of 2027, committing to $500 million of spending beginning in 2025.

The company said the work under the contract mostly consists of heavy-equipment rentals, as well as earthworks.

"This is our first multi-year commitment under this agreement and we look forward to executing on our customer's expectations and delivering safe, low-cost services. This award reaffirms our alignment with our client's operating goals and our continued focus on efficiency and costs," Chief Executive Joe Lambert said in a release.

North American Construction ( NOA ) said the contract raises its order backlog to $3.6 billion. In its guidance, the company said it expects fourth-quarter revenue of $350 to $375 million, with 2025 revenue forecast at around $1.5 billion.

It sees fourth-quarter adjusted earnings per share of around $1.05 and around $4.30 per share over 2025. Adjusted ebitda is seen running between $100 million and $110 million in the current quarter and around $430 million next year from its operations in Canada, the United States and Australia.

The company's shares were last seen up US$0.10 to US$20.30 in premarket trade. They closed up $0.37 to $28.47 Wednesday on the Toronto Stock Exchange.