Bird Construction Stock: The Infrastructure Play Quietly up 738%

Bird Construction stock has delivered impressive gains. Here’s how its growing project pipeline could support the next phase of infrastructure growth.

Key Points
  • Bird Construction's stock has surged by 738% over the past three years due to its strong performance in construction and maintenance across multiple sectors.
  • In the second quarter of 2026, Bird reported significant growth with a 22.6% increase in construction revenue, surpassing $1 billion in quarterly revenue for the first time, and a backlog increase to $6.1 billion.
  • Although Bird offers long-term opportunities through its robust project portfolio and infrastructure spending, potential investors need to consider that much of the anticipated growth may already be reflected in the stock's current price.

When a stock soars by over 700%, the question that every investor will ask is whether they missed the boat. One stock that hit that milestone recently is Bird Construction (TSX: BDT). In fact, Bird Construction stock delivered a dividend-adjusted gain of 738% over the three years ending with the first half of 2026.

That’s more than enough for the stock to get on the radar of investors everywhere. And while many may wish they’d bought the stock earlier, the more pressing question today is whether Bird’s business can keep growing.

Let’s start by answering a few simple questions about this growth stock.

construction workers talk on the job site

Source: Getty Images

What does Bird Construction do?

Bird is a construction and maintenance company that serves the industrial, building, and infrastructure sectors. That work includes complex facilities and services that are needed to keep businesses running.

Bird’s portfolio of projects spans several sectors, from healthcare and transportation to mining and data centres. That gives investors exposure to the businesses that sit behind major spending initiatives. Once a major project moves forward, the facilities still need to be built, and that’s where Bird comes into play.

Apart from its construction side, Bird’s maintenance business is also worth noting.

Maintenance contracts typically run for several years, providing Bird with a recurring and stable revenue stream. Often, those maintenance contracts can lead to repeat business beyond that initial contract.

The work behind the growth

Recent quarterly results help to showcase the potential of Bird Construction stock as a long-term investment.

In the second fiscal quarter of 2026, Bird saw construction revenue increase 22.6% to $1.04 billion. In fact, that’s also the first time the company surpassed $1 billion in quarterly revenue.

During that same quarter, adjusted earnings per share rose 40% to $0.70, and adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) margin improved to 7.1% over the 6.5% reported in the prior year.

That’s not even the best part. Bird’s backlog hit a staggering $6.1 billion in the most recent quarter. That’s a 30% increase over the prior year.

Adding to that appeal is what Bird refers to as its pending backlog. That’s work that has been awarded but is not yet under contract. The pending backlog also increased by $2.2 billion compared with a year earlier.

For prospective investors evaluating Bird Construction stock, the appeal is simple. More work leads to more revenue, and by extension, improved profitability.

And there are plenty of projects.

One opportunity to note is Bird’s partnership with Bell AI Fabric. Bird was selected as the lead construction partner for the 300-megawatt Sherwood data centre in Saskatchewan. That comes with a broader agreement supporting potential future projects across Canada.

This gives Bird a way to partake in AI spending through construction, but that’s not all.

In July, Bird announced nearly $1 billion in project awards and agreements. That includes marine and dredging work in B.C. and selection as a preferred negotiating proponent for a nuclear-sector contract.

These projects give Bird a few different ways to grow while infrastructure spending picks up.

Is Bird Construction stock still worth buying?

Bird is set to capitalize on its strong portfolio of projects and the increasing focus on generational infrastructure spending in Canada. Throw in the massive and still-growing backlog of projects the company has, and Bird emerges as an intriguing long-term pick.

After that kind of rally, investors also need to consider how much future growth they’re already paying for. Bird can keep winning projects while its shares deliver more modest returns from here.

That being said, a lot of that growth may already be reflected in the stock price. Bird has plenty of work ahead, but investors buying today shouldn’t count on another 738% gain.

In my opinion, a small position in Bird is warranted as part of a larger, well-diversified portfolio.

Fool contributor Demetris Afxentiou has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

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