3 Canadian Stocks Perfectly Positioned for the Infrastructure Boom

Stocks like Aecon Group stock stand to continue to do well as the infrastructure super-cycle continues to drive a spending boom.

Karen Thomas, MSc, CFA

Karen is a stock market enthusiast focused on uncovering those stocks that she believes the market has mispriced. She does this through fundamental and quantitative analysis of companies and their industries, as well as a study of future opportunities and trends. She holds a Masters degree in Finance, the CFA designation, and has over 20 years of experience in the investment management industry. Having worked at a major pension fund, as well as two leading mutual fund firms as an analyst and portfolio manager, she has solid investing expertise which she aims to share with her readers.

Published May 27, 4:40 pm EDT

| More on: AREBDTBIP.UN

Key Points

• A massive infrastructure boom is underway with the U.S. needing over $30 trillion for modernization and Canada planning $115 billion over five years, driven by AI, renewable energy, and deteriorating legacy infrastructure.
• Three Canadian infrastructure stocks are capitalizing on this trend: Aecon Group (TSX:ARE) with record $10.85 billion backlog and 18% revenue growth, Bird Construction (TSX:BDT) with record $5.4 billion backlog, and both seeing strong demand for construction services.
• Brookfield Infrastructure (TSX:BIP.UN) posted 10% growth in funds from operations to $709 million, with standout performance in data (46% growth) and midstream (12% growth) segments as it operates globally across utilities, transport, and emerging "new world" infrastructure.

The world is changing. And with every change comes a period of adjustment.

The emergence of artificial intelligence, nuclear power, increased energy demand, and the shift to renewable energy are all part of the new world.

These shifts are happening at a rapid pace. And the race is on to build the infrastructure to support this new world.

In this article, I’ll discuss three Canadian stocks that are benefiting from the infrastructure boom today and have big potential to continue to grow.

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The infrastructure boom

But first, let’s review the positive backdrop that’s driving the strong results for infrastructure stocks.

It’s a well-known fact that North American infrastructure is old and deteriorating. Both the U.S. and Canada recognize this and are taking steps to make the necessary investments. Some estimate that the U.S. needs to invest more than $30 trillion to modernize current infrastructure and to build the new infrastructure that it so sorely needs to support the new digital world that’s also respectful of the environment and the people living in it.

Canada also has great need for a massive infrastructure spending spree. The requirements are similar. The government’s plan to invest $115 billion over the next five years, with a focus on modernizing and investing in new infrastructure such as health assets, trade and transport, and renewable energy projects.

Aecon

The first Canadian stock that’s benefiting greatly from the infrastructure boom is Aecon Group Inc. (TSX:ARE). Aecon is one of Canada’s largest publicly-traded construction and infrastructure development companies.

In Aecon stock’s latest quarter, the first quarter of 2026, the company reported revenue of $1.3 billion. This was 18% higher than the same period last year. Also, Aecon reported a new record for backlog, which came in at $10.9 billion. This was 12% higher than the same period last year.

Finally, adjusted earnings per share (EPS) came in at a loss of $0.21. This is due to some of the fixed price legacy projects that are hitting Aecon’s bottom line, as the fixed pricing made them unprofitable. The good news is that they are nearing completion, so they won’t drag down Aecon stock’s results for much longer.

Bird Construction

Another Canadian stock that’s benefiting from the infrastructure boom is Bird Construction Inc. (TSX:BDT).

Bird Construction is also experiencing strong growth as demand remains high for its construction services. Revenue increased 9.2% to $783.4 million in its most recent quarter (Q1/2026) and backlog was more than $5.4 billion, a new record for the company and 23.8% higher than a year ago.

The trend of increased infrastructure spending was evident in both Aecon and Bird’s results.

Brookfield Infrastructure

Brookfield Infrastructure Properties Inc. (TSX:BIP.UN) is another major infrastructure player and Canadian stock that’s seeing across the board strength. Brookfield is a global infrastructure company. It owns and operates long-life assets in the utilities, transport, midstream, and data industries across the globe.

The company is active in most of the “new world” industries that are seeing strong growth trends. This includes utilities, connectivity assets, nuclear assets, liquified natural gas assets, and more.

In Brookfield’s latest quarter, the company posted a 10% increase in funds from operations, to $709 million. This increase was driven by strong results in all of its businesses. The notable standouts were Brookfield’s data and midstream segments, which increased 46% and 12% respectively.

The bottom line

The three Canadian stocks discussed in this article stand to continue to benefit from the massive infrastructure super cycle that’s underway today and for the foreseeable future. Investors should consider buying them for exposure to this booming sector.