Great Q4 results for BDT.CA (adding more tomorrow)

$BDT.CA, a stock I am owning since December 4, 2020, just released super-strong Q4 results. Actually, as expected as per my analysis here:

Fourth Quarter 2020 compared to Fourth Quarter 2019

  • Construction revenue of $555.0 million, representing a 31.9% increase year-over-year.

  • Net income and earnings per share were $20.5 million and $0.39, respectively, compared to $8.2 million and $0.19 in Q4 2019. The estimate from the market was $0.18 (+112% surprise).

  • Adjusted Earnings and Adjusted Earnings Per Share were $21.5 million and $0.41, respectively, compared to $8.2 million and $0.19 in Q4 2019.

  • Adjusted EBITDA of $40.0 million, or 7.2% of revenues, reflects a 149.9% increase in Adjusted EBITDA and a 340 bps improvement in Adjusted EBITDA Margin.


More positive news for $BDT.CA : Bird Construction Awarded Contract for Accelerated Builds at Kenora Jail and Thunder Bay Correctional Centre:

Overall, at the current quarterly EPS of $0.39, we are looking at a PE ratio of just 6.4 (if it continues to deliver such EPS in the next 3 quarters) for a growing company. The Canadian Construction industry average is 30.1x. Even if we use a conservative PE of 15 we could target the price of $23.

I am adding more tomorrow.


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