Aecon has beaten earnings estimates in each of its past four reported quarters. Its next test is whether it can deliver higher earnings and revenue amid recent share-price weakness and questions about project execution.
Aecon Group Inc. (TSX: ARE) is set to report results after the market closes on October 29, 2026, for the quarter ended September 30. One calendar estimate puts earnings at C$0.74 per share. A separate earnings-trends feed, based on five analysts, puts consensus at C$0.80. These figures come from different sources, so check which one your data provider uses. The trends feed also forecasts revenue of C$1.65 billion, up 8.0% from a year earlier. Aecon’s recent run of earnings beats is encouraging, but this report will show whether the company is turning infrastructure work into reported growth.
Recent earnings trend
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Aecon Group Inc.
ARE.TO
ARE.TO
Aecon Group Inc.
WealthAwesomeMarket cap
$3.30B
Div. yield
1.61%
Div. / share
$0.77
52W high
$59.96
52W low
$24.59
1W change
-8.19%
Beta
1.06
Analyst Price Targets
Based on analyst covering ARE · as of Oct 19, 2026
Wall Street analysts forecast ARE stock price to rise 25.1% over the next 12 months.
Consensus
BullishBased on avg. target vs last close (formal rating unavailable for Canadian listings)
Avg. Target
C$59.30
+25.1% Upside
Previously C$59.00 on Oct 16, 2026
Current Price
C$47.42
Last close
Targets are snapshotted when they change. Unchanged figures keep their original date. Not financial advice.
Wealth Awesome Price Forecast
WA ModelStatistical 90-day price range based on ARE's historical volatility
30-Day Vol
51.0%
Annualized
90-Day Vol
52.7%
Annualized
Trend (90d)
+35.6%
Annualized drift
90d Mean
C$54.70
Expected price
| Horizon | Expected | 68% Range (1σ) |
|---|---|---|
| 30 trading days | C$50.25 | C$42.15 – C$59.91 |
| 60 trading days | C$52.42 | C$40.88 – C$67.22 |
| 90 trading days | C$54.70 | C$40.34 – C$74.17 |
Methodology: Range is calculated using 30-day realized volatility via geometric Brownian motion (log-normal model). 68% band = ±1σ, 95% band = ±2σ. This is a statistical model, not a prediction. Past volatility does not guarantee future results. Not financial advice.
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Analyst coverage: 5 analyst(s) cover this name; upcoming EPS consensus is available.
Beat estimates in 4 of the last 4 comparable quarter(s).
| Fiscal period | Report date | Actual EPS | Estimate | Surprise |
|---|---|---|---|---|
| 2026-09-30 | 2026-10-29 | — | 0.7400 | — |
| 2026-06-30 | 2026-07-30 | 0.3300 | 0.2900 | +13.8% |
| 2026-03-31 | 2026-04-28 | -0.2100 | -0.2200 | +4.5% |
| 2025-12-31 | 2026-03-05 | 0.5200 | 0.3300 | +57.6% |
| 2025-09-30 | 2025-10-29 | 0.5300 | 0.4500 | +17.8% |
| 2025-06-30 | 2025-07-31 | -0.0900 | 0.0400 | -325.0% |
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Investor takeaway: Estimates point to growth, but another beat isn’t guaranteed. The trends feed’s C$0.80 EPS consensus is up from C$0.74 30 days ago, following three upward revisions and no downward revisions. It implies 50.9% growth from year-ago EPS of C$0.53. Aecon beat estimates in each of its past four reported quarters, including the June quarter, when it reported C$0.33 against an estimate of C$0.29. But trailing EPS and profit margin remain negative, and recent coverage has raised questions about project execution. Investors should look beyond the headline EPS comparison to the quality and sustainability of earnings. See the ARE stock page for company and market data.
C$0.80 per share
The earnings-trends feed puts consensus for the September quarter at C$0.80 per share, based on five analysts. That compares with year-ago EPS of C$0.53. The estimate has risen from C$0.74 over the past 30 days, with three upward revisions and none downward. A separate calendar field lists C$0.74, so estimates vary by source. The trends feed gives a range of C$0.73 to C$0.91.
Bull case
Analyst estimates have moved higher, and the available forecasts point to year-over-year growth in earnings and revenue. Aecon has also beaten estimates in each of its past four reported quarters. The revenue forecast offers another measure of whether the company is turning project activity into sales. Results that support the growth outlook and show solid project execution would strengthen confidence in Aecon’s earnings prospects.
Bear case
Construction and engineering results depend on project timing and execution. Higher earnings estimates don’t remove the risk that projects fall behind or cost more than expected. Aecon’s trailing 12-month EPS is -C$0.98 and its profit margin is -1.10%, so recent quarterly beats have not yet led to positive trailing profitability. The shares have fallen 11.2% over the past month, and the last close of C$47.42 was below the 50-day moving average of C$48.72. A miss, weaker revenue, or pressure on project economics could undermine the growth outlook.
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