Bird president and CEO Teri McKibbon said the company will continue to leverage its strategy in 2024. Credit: Arturs Budkevics via Shutterstock.

Bird Construction has reported a net income of C$23.88m ($17.58m) in the fourth quarter (Q4) of 2023, a surge of 59.93% from C$14.93m in the same period of 2022. 

Construction revenue for the quarter ending 31 December 2023 also climbed 22.05% to C$792.06m from C$648.96m in the previous year’s corresponding quarter.  

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Basic and diluted earnings per share (EPS) for the quarter reached C$0.44 from C$0.28 in Q4 2022. 

Adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) for the reported quarter rose to C$43.86m from C$30.63m in Q4 2022.  

For the entire year of 2023, Bird’s net income reached C$71.53m, from C$49.86m in the previous year.  

Construction revenue for full-year 2023 stood at C$2.79bn, compared with C$2.36bn in 2022. 

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EPS for full-year 2023, both basic and diluted, was reported at C$1.33, marking an increase from C$0.93 in 2022.  

Meanwhile, adjusted EBITDA for the full year was C$138.74m compared with C$101.18m in the previous year. 

Bird president and CEO Teri McKibbon said: “The robust growth and profitability of Bird’s fourth quarter and full year reflect the power of executing our strategy, the trust and level of collaboration we have achieved with our clients, and the quality of delivery from our dedicated ‘One Bird’ team.  

“Our capabilities to deliver sophisticated work and our position as a leading collaborative construction and maintenance company remain competitive advantages, which we intend to leverage in 2024 and beyond as we continue to focus on growth and margin expansion.” 

Additionally, Bird was awarded five new contracts across various sectors, totalling more than C$530m.  

These contracts are expected to contribute significantly to the company’s future revenue streams and underline its competitive position in the market.