Bird Construction Inc. raised its 2027 revenue outlook to C$4.9 billion to C$5.1 billion after third-quarter construction revenue climbed 36.7% year over year, as combined backlog reached C$13 billion.
On its Nov. 12 earnings call, management said full-year 2026 revenue growth was expected to approach 25%. It described the new 2027 range as the upper end of the company’s strategic plan target.
Bird’s Nov. 11 results release reported construction revenue of C$1.30 billion for the three months ended Sept. 30, up from C$951.4 million a year earlier. Net income rose to C$51.1 million from C$31.7 million, and diluted earnings per share increased to C$0.92 from C$0.57. Adjusted EBITDA, a non-GAAP measure, grew 58.8% to C$106.3 million; its margin was 8.2%, compared with 7.0% a year earlier.
Bird attributed almost 90% of the revenue increase to organic growth across its Industrial, Buildings and Infrastructure businesses. Fraser River Pile & Dredge, acquired in Oct. 2025, accounted for the remainder.
The company said its adjusted EBITDA margin was affected by C$12.3 million linked to the favorable resolution of a historical construction-related legal claim and C$4.4 million in additional share-based compensation costs. Bird said the compensation costs reflected appreciation in its share price and total shareholder return.
At Sept. 30, Bird reported C$6.4 billion in contracted backlog and C$6.6 billion in pending backlog, meaning awarded work that had not yet been contracted. The pending amount included almost C$1.5 billion in master service agreements and recurring revenue expected over the next four years. Bird added more than C$1.6 billion to backlog during the quarter, exceeding work executed by C$329.3 million.
President and CEO Teri McKibbon said on the call that Bird’s revenue had grown about 20% annually and adjusted EBITDA about 30% annually over the preceding six years. He also described the business as spanning 10 strategic sectors.
