What's Going On With SNC-Lavalin Shares Today

SNC-Lavalin Group Inc SNC SNCAF reported first-quarter revenue growth of 3.8% year-over-year to C$1.89 billion (+4% Y/Y). Adjusted EPS declined to C$0.25 from C$0.51 for the quarter.
SNCL Services revenue totaled C$1.66 billion (+6.8% Y/Y) and +8.4% Y/Y on an organic basis. The increase was driven by organic revenue growth of 10% in Engineering Services and 21.3% in Linxon.
SNCL Services segment EBIT declined by 7.2% Y/Y to C$126.7 million, and the margin contracted by 115 bps to 7.6%.
Net cash generated from operating activities in SNCL Services of $58.7 million in Q1.
SNC-Lavalin net cash used for operating activities for the quarter totaled C$134 million, compared to cash generated C$5.6 million a year ago.
The negative operating cash flows in Q1 reflected operating cash outflows related to the LSTK projects, partially offset by operating cash inflows from SNCL Services.
Backlog from continuing operations as of March 31 was C$12.17 billion.
LSTK Projects segment backlog decreased by 18% during the quarter; the Backlog totaled C$956.6 million as of March 31, 2022.
SNC-Lavalin held cash and equivalents of C$506 million as of March 31, 2022.
Dividend: SNC-Lavalin declared a cash dividend of C$0.02 per share, payable on June 2, 2022, to shareholders of record on May 19, 2022.
“Robust growth from our Engineering Services segment, strong performance of our Nuclear and O&M segments and the sustained strong bidding activities further underpins our confidence in delivering on our full-year 2022 outlook,” commented CEO Ian L. Edwards.
FY22 Outlook reaffirmed: SNC-Lavalin expects SNCL Services organic revenue growth of 4%-6%; SNCL Services segment Adjusted EBIT to segment revenue ratio of 8%-10%.
It expects net cash generated from operating activities of C$0 - C$100 million.
Price Action: SNC shares are trading lower by 13.7% at C$24.88 on TSX, and SNCAF is lower by 10.97% at $19.64 on the last check Thursday.

Market News and Data brought to you by Benzinga APIs

Comments

Earnings Calendar

Never Miss Important Catalysts

Popular Channels

Tools & Features

Partners & Contributors

About Benzinga