SNC-Lavalin reports Q1 profit down from year ago, revenue edges higher
Posted May 5, 2022 7:29 am.
Last Updated May 5, 2022 7:32 am.
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.
This report by The Canadian Press was first published May 5, 2022.
Companies in this story: (TSX:SNC)
The Canadian Press
