SNC-Lavalin posts $49.2M 4Q profit, tops expectations

MONTREAL -- SNC-Lavalin earned $49.2 million in its fourth quarter, down from a year earlier when the company's results were bolstered by the sale of its stake in an Alberta electricity distributor.

See Full Article

The Montreal-based company (TSX:SNC) said Thursday the profit amounted to 33 cents per share for the quarter, down from nearly $1.15 billion or $7.51 per share a year ago.

Revenue for the fourth quarter was $2.6 billion, down from $2.8 billion a year earlier.

On an adjusted basis, the company said it earned 67 cents per share in its latest quarter, down from an adjusted profit of 70 cents per share a year ago.

Analysts had estimated 42 cents per share of adjusted earnings in the quarter, according to Thomson Reuters.

For the full year, SNC earned $404.3 million or $2.68 per share on $9.6 billion in revenue last year, compared with a profit of $1.33 billion or $8.74 per share on $8.2 billion in revenue in 2014.

The results came as the company increased its quarterly dividend by a penny to 26 cents per share, payable March 31.

SNC-Lavalin's main business -- which provides engineering and construction services to a wide range of industries -- earned nearly $14 million or nine cents per share of net income in the fourth quarter. Adjusted earnings were 44 cents per share.

The result compared with a net loss of $255.6 million or $1.67 per share and an adjusted profit of 15 cents per share in the fourth quarter of 2014.

For the full year, SNC's engineering and construction business earned $95.8 million or 64 cents per share in 2015, compared with loss of $300.5 million or $1.97 per share in 2014.



Advertisements

Latest Economic News

  • How to fight back against rising bank fees on chequing accounts

    Economic CBC News
    Canada's big banks continue to enjoy big profits. But that hasn't stopped them from charging customers a host of personal banking fees. In fact, fees have become an ever more important part of their revenues. Source
  • Bogus bongs or bogus lawsuits? Pipe maker sues over fakes

    Economic CTV News
    FORT LAUDERDALE, Fla. -- Don't want to bum your buzz, but that expensive bong you got cheap to smoke your pot may be bogus. High-end German glass water pipe maker Roor and its American licensee are filing lawsuits against smoke shops and mom-and-pop convenience stores in Florida, California and New York. Source
  • 'There isn't a best card out there': How to choose a credit card that works for you

    Economic CBC News
    Credit cards are sometimes lambasted as high-cost consumer debt that can quickly get borrowers into trouble. But if you pay off the balance each month, credit cards can also have significant perks. Loyalty programs like Air Miles, which has both a standalone program and partnerships with credit cards, have drawn a lot of criticism lately, but Canadians are still attached to credit cards that offer rewards. Source
  • Chevron says it has won the latest round in an Ecuadorian legal battle

    Economic CTV News
    Oil giant Chevron Corp. says it has won a round in the Canadian courts in a complex legal battle with a group of Ecuadorian villagers who are trying to collect on a massive judgement they won in Ecuador's courts. Source
  • Liberals ask President Trump to approve Keystone XL pipeline

    Economic CTV News
    Canada’s natural resources minister says that he hopes the new U.S. administration will allow the Keystone XL pipeline quashed by Barack Obama to proceed, noting that all Canadian regulatory approvals are in place. Jim Carr spoke to CTV’s Power Play from Washington, D.C. Source
  • Apple depicts Qualcomm as a shady monopolist in US$1B lawsuit

    Economic CTV News
    SAN FRANCISCO -- Apple is suing mobile chip maker Qualcomm for $1 billion in a patent fight pitting the iPhone maker against one of its major suppliers. The 100-page complaint filed Friday in a San Diego federal court depicts Qualcomm as a greedy monopolist abusing its power in a key segment of the mobile chip market to extort royalties for iPhone innovations that have nothing to do with Qualcomm's technology. Source
  • Trump's 'America first' tone worries head of Canadian oil and gas industry group

    Economic CTV News
    Trump takes charge: Sworn in as 45th president of the U.S.A. Source
  • Obama administration urges Canada to reverse Super Bowl ad decision

    Economic CTV News
    OTTAWA - In one of its final communications with Canada, the outgoing Obama administration is engaging in pigskin politics: asking the Trudeau government to overturn a regulation affecting ads during the Super Bowl. The U.S. Source
  • Oil and stock prices higher as Donald Trump sworn in

    Economic CBC News
    Stock markets responded to the first day of the Trump Administration in a largely positive way, with the Dow Jones, the Nasdaq and the S&P 500 all higher on the day of his swearing in. The Dow Jones Industrial Average was up by nearly 100 points to 19,829 just minutes before the new president formally acceded to the position. Source
  • Stocks higher as Donald Trump lays out glimpse of future economic policies

    Economic CBC News
    Stock markets responded to the first day of the Trump Administration in a largely positive way, with the Dow Jones, the Nasdaq and the S&P 500 all higher on the day of his swearing in. The Dow Jones Industrial Average was up by nearly 100 points to 19,829 just minutes before the new president formally acceded to the position. Source