CA - SNC Lavalin reports Q3 earnings; updates FY22 financial outlook metrics
- SNC Lavalin press release ( OTCPK:SNCAF ): Q3 Non-GAAP EPS of $0.30.
- Revenue of $1.89B (+4.4% Y/Y).
- 2022 Outlook : Given robust backlog and strong performance year-to-date in Engineering Services, management is raising its SNCL Services organic revenue growth outlook for full year 2022 vs 2021 to between 5% and 7% (previously between 4% and 6%).
- Q4 2021 included a $93M favorable outcome from an arbitration decision that is not expected to repeat in Q4 2022.
- Tightening the range on SNCL Services Segment Adjusted EBIT to segment revenue ratio outlook for full year 2022 to between 8.5% and 9.0% (previously between 8% and 10%).
- Updating 2022 net cash from operating activities outlook to approximately negative $300M (previously between negative $50M and negative $150M), primarily driven by the need to fund higher costs to complete the LSTK projects prior to receiving potential claim recoveries.
- Reaffirming all other company's financial outlook metrics for full year 2022.
For further details see:
SNC Lavalin reports Q3 earnings; updates FY22 financial outlook metrics