Record quarterly performance: Q2 revenue surpassed C$1 billion for the first time, rising 22.6% year over year to C$1.043 billion. Adjusted EBITDA increased 34.6% to C$73.9 million, while the margin expanded to 7.1%. Backlog reached approximately C$12 billion: Contracted backlog rose 30.6% to C$6.1 billion and pending backlog increased 57.5% to C$6 billion, supported by nearly C$1.8 billion in Q2 wins and about C$1 billion of subsequent awards.
Positive outlook: Bird expects full-year revenue growth of more than 20% and further margin gains as delayed industrial programs ramp up in the second half. The company continues targeting an 8% adjusted EBITDA margin in 2027. Bird Construction (TSE:BDT) reported second-quarter 2026 revenue above C$1 billion for the first time in its history, as broad-based project activity, backlog growth and improved margins supported results under the company's 2027 strategic plan.
Revenue rose 22.6% year over year to C$1.043 billion, with more than 80% of the increase coming from organic growth, President and Chief Executive Officer Teri McKibbon said during the company's earnings call. All three operating businesses contributed to organic growth, while the infrastructure segment also benefited from FRPD, acquired in October 2025. → Lumentum Just Delivered the AI Growth Investors Wanted McKibbon said the quarter was notable because revenue, adjusted EBITDA margin, backlog and cash flow improved simultaneously. She attributed the performance to a distributed work program across sectors and regions, along with Bird's self-perform capabilities, labor access, technical expertise and national operating reach.
Adjusted EBITDA increased 34.6% to C$73.9 million, while adjusted EBITDA margin expanded 60 basis points from a year earlier to 7.1%. Gross profit was C$109.8 million, representing a gross-profit margin of 10.5%. → Ryman Checks Into a $1.38B Hospitality Upgrade Chief Financial Officer Wayne Gingrich said margin improvement reflected disciplined project selection, a better project mix and increased self-perform participation. Operating leverage also contributed, with general and administrative expenses declining to 5.4% of revenue from 6.4% in the prior-year period.
Adjusted earnings rose 40% to C$38.6 million, or C$0.70 per share. Net income was C$30.3 million, or C$0.55 per share. Gingrich noted that net income included non-cash warrant-related impacts tied to a strategic customer arrangement and a non-cash expense associated with shares issued to another strategic partner. → Joby's Defense Pivot Accelerates With $500M Resonant Sciences Deal For the first six months of 2026, revenue increased 16.5% to C$1.83 billion.
Adjusted EBITDA rose 24.8% to C$111 million, and the adjusted EBITDA margin improved to 6.1%. Net income increased 40.5% to C$41.7 million, while cash flow from operating activities improved by C$188.8 million year over year to C$64.5 million. Bird secured nearly C$1.8 billion of work during the second quarter, exceeding work executed by C$707 million.
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