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BRIEF-Snc-Lavalin announces lower than anticipated q4 results impacting full year 2018

Published 2019-01-28, 08:31 a/m
© Reuters.  BRIEF-Snc-Lavalin announces lower than anticipated q4 results impacting full year 2018
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Jan 28 (Reuters) - SNC-Lavalin Group Inc SNC.TO :

* SNC-LAVALIN ANNOUNCES LOWER THAN ANTICIPATED Q4 RESULTS IMPACTING FULL YEAR 2018

* FULL YEAR 2018 RESULTS WILL BE LOWER THAN EXPECTED

* SNC-LAVALIN GROUP - OIL & GAS SEGMENT EBIT WILL BE LOWER IN 2018 THAN COMPANY EXPECTED

* "EXPERIENCING WORSE THAN EXPECTED TRADING CHALLENGES IN OIL & GAS IN MIDDLE EAST, AND SAUDI ARABIA IN PARTICULAR"

* SEES 2018 ADJUSTED CONSOLIDATED DILUTED EPS TO BE IN RANGE OF $2.15 TO $2.30

* FY2018 EARNINGS PER SHARE VIEW C$2.68 -- REFINITIV IBES DATA

* SNC-LAVALIN GROUP - WILL BE TAKING NON-CASH AFTER-TAX GOODWILL IMPAIRMENT CHARGE OF ABOUT $1.24 BILLION, OR $7.06 PER DILUTED SHARE

* "WE WILL TAKE A MORE CAUTIOUS VIEW TOWARDS OUR 2019 PROSPECTS TO REFLECT THESE UNCERTAINTIES"

* SNC-LAVALIN - BUSINESS CONTINUES TO FACE SEVERAL WELL-DOCUMENTED MACRO CHALLENGES, SOME CO-SPECIFIC HEADWINDS, WHICH ARE IMPACTING ABILITY TO GROW

* SNC-LAVALIN - INTER-GOVERNMENTAL RELATIONS BETWEEN CANADA-SAUDI ARABIA, WITH UNPREDICTABLE COMMODITY PRICES, OTHERS, LED TO DETERIORATION IN NEAR-TERM PROSPECTS

* SNC-LAVALIN - IMPAIRMENT TESTS INDICATE THAT FAIR VALUE OF OIL & GAS SEGMENT IS LOWER THAN CARRYING VALUE IN FINANCIAL STATEMENTS

* SNC-LAVALIN GROUP - "SERIOUS PROBLEM HAS JUST COME TO LIGHT IN RELATION TO A SINGLE PROJECT IN MINING & METALLURGY SEGMENT"

* SNC-LAVALIN - RELATING TO MINING & METALLURGY SEGMENT, THE PROJECT' YEAR-END UNDER-PERFORMANCE RELATIVE TO INTERNAL BUDGETS TO MATERIALLY AFFECT Q4 RESULTS

* SNC-LAVALIN GROUP - MINING & METALLURGY SEGMENT EBIT WILL BE LOWER IN 2018 THAN COMPANY EXPECTED

* FY2018 EARNINGS PER SHARE VIEW C$2.68, REVENUE VIEW C$10.34 BILLION -- REFINITIV IBES DATA

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