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SNC-Lavalin reports Q1 profit down from year ago, revenue edges higher

SNC-Lavalin reports Q1 profit down from year ago, revenue edges higher

MONTREAL — SNC-Lavalin Group Inc. reported its first-quarter profit fell compared with a year ago as its revenue edged higher to start the year.

The company said its profit from continuing operations attributable to shareholders totalled $24.8 million or 14 cents per diluted share for the quarter ending March 31.

The result compared with a profit of $67.7 million or 39 cents per diluted share in the same quarter last year.

Revenue for the quarter totalled $1.89 billion for the quarter, up from $1.82 billion in the first three months of 2021.

Professional services and project management revenue rose to $1.87 billion compared with $1.8 billion last year, while revenue from its capital business fell to $16.4 million compared with $21.7 million a year earlier.

On an adjusted basis, SNC-Lavalin said its professional services and project management business earned $39.4 million or 22 cents per share for the quarter, down from $83.4 million or 48 cents per share a year ago.

 

© 2022 The Canadian Press

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