News Summary

Aecon Group Inc., a Toronto-based infrastructure firm, reported a 44% increase in quarterly profits year-over-year. Despite this boost, the earnings fell short of analysts’ expectations. The fourth-quarter revenues rose by 12% to $1.27 billion from the previous year’s $1.13 billion. However, the overall year ended with a net loss of $59.5 million, partly due to the sale of a minority stake in Skyport, which oversees the infrastructure overhaul at the Bermuda airport. Adjusted earnings per share rose to 25 cents but failed to meet the anticipated 41 cents per share.