15.1 C
New York
December 1, 2020
Worship Media

SNC-Lavalin Group reports $85.1-million Q3 loss, revenue down from a year ago

MONTREAL — SNC-Lavalin Group Inc. reported a loss of $85.1 million in its latest quarter compared with profit of $2.76 billion a year ago when its results were boosted by the sale of a 10.01 per cent stake in Highway 407 ETR.

The company says the loss amounted to 48 cents per diluted share for the quarter ended Sept. 30 compared with a profit of of $15.70 per diluted share a year ago.

The results last year included a net gain of $2.59 billion or $14.74 per diluted share from the sale of the stake in Highway 407 ETR.

On an adjusted basis, SNC says it lost 19 cents per diluted share for the quarter compared with an adjusted profit of $1.24 per diluted share a year ago.

Revenue for the quarter totalled $2.01 billion, down from $2.43 billion in the same quarter last year.

In its outlook, SNC says it expects — assuming no significant deviation from the current COVID-19 situation — that engineering services revenue for the fourth quarter will be down by a low- to mid-single digit percentage compared with the fourth quarter of last year.

— this report by The Canadian Press was first published Oct. 30, 2020.

Click Here to Visit Orignal Source of Article https://montreal.ctvnews.ca/snc-lavalin-group-reports-85-1-million-q3-loss-revenue-down-from-a-year-ago-1.5167747

Related posts

Built for a global economy, Dubai now threatened by virus

CTV News

North American stock markets drift lower on path to first monthly loss since March

CTV News

Boeing finds a new issue with Max, debris in fuel tanks

CTV News

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy