EarningsQ2 2026 Earnings Report
DE:6LT Q2 2026 EPS Results
Actual EPS€0.45
Consensus EPS€0.38
Beat/MissBeat by +€0.07
One Year Ago EPS€0.32
DE:6LT Q2 2026 Revenue Results
Actual Revenue€666.18M
Expected Revenue€611.41M
Beat/MissBeat by +€54.77M
YoY Revenue Growth+22.63%
Earnings Announcement Details
QuarterQ2 2026
Date08/12/2026
TimeAfter Close
Conference CallWednesday, August 12, 2026
DE:6LT Upcoming Earnings
Bird Construction's next earnings date is estimated for November 11, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
No earnings call audio is available for this earnings event.
Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call communicated strong, broad-based operational and financial momentum: record quarterly revenue (> $1.0B), double-digit revenue growth (22.6% YoY), meaningful backlog expansion (~$12B combined), improved margins (Q2 adj. EBITDA margin 7.1%, TTM 6.7%), strong cash generation and enhanced access to capital (investment-grade rating and $250M notes). Most risks cited are timing and execution-related (industrial ramp timing, early-stage Ring of Fire work, data center ramp), and there remain modest gaps to the 2027 margin target. Overall the positives substantially outweigh the near-term operational timing uncertainties.Company Guidance
Record Quarterly Revenue
Revenue reached $1.043 billion in Q2, the first time revenue exceeded $1 billion in company history, up 22.6% year-over-year.
Strong Organic Growth
More than 80% of the year-over-year revenue growth was organic, with all three businesses contributing to the increase.
Backlog Expansion and Securements
Contracted backlog grew to $6.1 billion (up 30.6% YoY) and pending backlog to $6.0 billion (up 57.5% YoY), combining to approximately $12 billion. Q2 securements totaled almost $1.8 billion, exceeding work executed by $707 million.
Margin and Profitability Improvement
Adjusted EBITDA rose 34.6% to $73.9 million in Q2, with adjusted EBITDA margin expanding to 7.1% (up 60 basis points YoY). Trailing 12-month adjusted EBITDA margin increased to 6.7% from 6.5%.
Gross Profit and Operating Leverage
Gross profit increased to $109.8 million with gross margin of 10.5%, supported by disciplined project selection, improved project mix and increased self-perform participation. G&A declined to 5.4% of revenue from 6.4% a year ago, reflecting operating leverage.
Earnings and EPS Growth
Adjusted earnings for the quarter were $38.6 million or $0.70 per share (up 40%). Net income was $30.3 million or $0.55 per share.
Cash Generation and Free Cash Flow
Q2 operating cash flow was $58.4 million (improvement of $133.8 million YoY). On a trailing 12-month basis, free cash flow was $262 million or $4.73 per share, demonstrating strong cash conversion.
Strengthened Liquidity and Capital Markets Access
Ended the quarter with $264.3 million in cash and $446.5 million available under the syndicated credit facility. Achieved DBRS investment-grade rating (BBB low) and completed a $250 million inaugural senior unsecured notes offering.
Balance Sheet Discipline
Adjusted net debt to TTM adjusted EBITDA was 0.96x and current ratio was 1.32x, indicating conservative leverage and financial flexibility to support growth.
Strategic Wins and Diversification
Subsequent to quarter end, approximately $1 billion of project awards across nuclear, civil, marine and mine infrastructure, industrial facilities, maintenance and buildings were announced. Combined backlog includes >$1.4 billion of MSAs/recurring revenue expected over next four years.
DE:6LT Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed