Home Business SNC-Lavalin reports Q3 profit up compared with a year ago

SNC-Lavalin reports Q3 profit up compared with a year ago

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SNC-Lavalin Group Inc. reported its third-quarter profit increased compared with a year ago as net income rose.

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The Montreal-based engineering firm says its net income amounted to $44.7 million or $0.25 per diluted share for the quarter ended Sept. 30.

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The results compare with a net income of $18.6 million or 11 cents per diluted share in the third quarter of 2021.

Revenue for this quarter totalled $1.89 billion, up from $1.81 billion in the same quarter last year.

On an adjusted basis, SNC Lavalin says it earned 30 cents per share in its latest quarter compared with an adjusted loss of 23 cents per share in the same quarter last year.

Analysts on average had expected adjusted earnings of 33 cents per share and $1.78 billion in revenue, according to estimates compiled by financial markets data firm Refinitiv.

This report by The Canadian Press was first published Nov. 4, 2022.

Companies in this story: (TSX:SNC)

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